- Can I Remitly or Wise rates?
- Can we be up and running in 15-days?
- Can we have a legal company name and then have a separate name (register a “doing business as”)? Is that allowed?
- Can we operate on a funds good & settled model? Please clarify steps of responsibility in the flow of funds.
- Can we operate on a good funds & settled model?
- Can we propose our own payout provider?
- Can we propose our own payout provider? How long does due diligence take and are there any extra costs associated? What is required of us and from the payout provider?
- Does the armored car service need to have a contract with your bank?
- How do I calculate my monthly costs?
- How long does it take to find a sponsor, finalize a contract, and get up and running?
- How long does the FinCEN registration process take, and does your company assist with this?
- How long does the process of signing the contract last?
- How much money would I need to start a RaaS business?
- How will I compete with others in the market?
- If I start on the smaller plan like Starter and then upgrade to Pro? How does that happen?
- If I submit my marketing/sales plans to you, how much do you think I will be making monthly as the business owner?
- Is chargeback or fraud protection included in your services?
- Is it possible to go live within 6-8 weeks after the initial engagement?
- Is the sponsor also going to provide the bank account for the company?
- Let’s say that I start the business, what would be my role in it? Will I be in charge of the back office?
- Our company is currently structured as a Delaware C-corporation. Will this present any issues? Is there a standard entity type a ‘sponsoree’ would be more likely to choose?
- We want to expand untapped corridors where correspondence arrangements are needed and are not available. Would we be allowed to make a correspondence arrangement with Banks in that territory?
- What bank will we be signing with? Can you tell us the name of the financial institution you are talking to? We might already be in conversation with them?
- What due diligence will need to be completed on our end?
- What is my company’s role defined in all of this? What role do I play as a non-licensed entity?
- What is the best way to present our use-case to the partner?
- What is the timeline before we can go live?
- What is the timeline followed by your company after you accept a potential client?
- Which service plan do you recommend for a startup company to start with? Is it possible to choose the Starter plan now and upgrade later?
- Why is the flow of funds important and why must I make it? Why can’t you make the flow of funds based on our project’s understanding (as you comprehend it)?
- Why is the limit of the starter package set to $5,000 per day?
- With regards to me as the owner of the business, how many departments do I need to run this (remittance as a service business) successfully?
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This page was last updated on January 30, 2024.
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