Do we need to be licensed in any capacity, such as a money transmitter?

Yes, if you are collecting and distributing money on behalf of others, you would be classified as a Money Services Business, which requires a money transmitter license. This is based on the functions your Kiosk would be operating under.

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This page was last updated on January 30, 2024.

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Related posts:

  1. Why Do You Need A Money Transmitter License If You Are Licensed Outside The US?
  2. Can a state-chartered bank operate in another state in which it is not licensed?
  3. Do we need a correspondent tie-up agreement, if there is a licensed financial entity involved, like an exchange, or another Money Services Business?
  4. Can a company registered in Barbados as a licensed MSB operate (send/receive money) from/in Florida?
  5. If we are a licensed money transfer company with extensive agreements with the payout countries, will the principal license holder agree to sign an agreement with us?
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