Money Transfer

Faisal Khan LLC Banking Payments Cryptocurrency Fintech Blockchain Compliance

What is the largest opportunity in Nigeria right now for money transfer?

tl;dr: Buy foreign exchange from within Nigeria by paying for it in Naira and have access to the US Dollars / Euros / other currencies outside of Nigeria to be traded/transferred as and when one desires.  Nigeria is a new import economy, so that means the demand for foreign exchange to be spent outside of …

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Faisal Khan LLC Banking Payments Cryptocurrency Fintech Blockchain Compliance

Can a money transfer agent location be opened in a consulate or an embassy?

The answer is no. When we look at making a consulate or an embassy, as a money-transfer agent location, you have to understand that the consulate or the embassy itself is not US Territory (assuming this question was being asked of the US) in fact this can be applied to any other licensed jurisdiction. With …

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Money-Transfer-Business-Out-of-Business

Will Small Money Transfer Operators Go Out Of Business?

This is the quintessential question. tl;dr: Yes, they will go out of business because of obsolescence.  Will the small and somewhat medium money transfer businesses go out of business. When Novi (from Facebook), larger players like MoneyGram and VISA entering the market, crypto based remittances becoming a reality and the inevitable issuance of digital fiat …

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Five Things You Can Do To Get Started With Crypto for Your Money Transfer Business - No Fluff

Five Things You Can Do To Get Started With Crypto for Your Money Transfer Business – No Fluff!

A lot many money transfer operators, small and large are looking towards going digital. Not just going digital, but also are wondering on how to get on the bandwagon of all things crypto. The following article or video, whatever you prefer, explains the five essential steps (in my opinion) that will enable you to get …

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7 Steps on How To Start a Money Transfer Business

7 Steps to Starting a Company in the US with Money Transmitter License Coverage

The Process Learn The Language Fill Out the RAAS (Remittance-as-a-Service) Form Setup A Call Term Sheet Consideration Quote Referral Agreement Introduction to Service Provider So you have decided you would like to start a cross border payments company, whether this is a wallet, a money transfer company like a remittance business, a crypto exchange or …

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