Remittance as a Service (RaaS) Cheat Sheet

Remittance-as-a-Service (or RaaS) is offered as an all-in-one solution where you as an entrepreneur, startup, or incumbent can get started in the cross-border money transfer business in the United States in as little as 3-4 weeks. The entire offering is a turnkey solution consisting of regulatory licensing, access to banking, and compliance (AML, KYC, CIP, etc.) is covered. If you are not convinced that leasing a license is more cost-effective than applying for your own licenses, then perhaps this should serve as a great starting point: Your own Money Transmitter Licenses versus Remittance-as-a-Service

In order to get started, we have painstakingly outlined all the facets of the business for you to read through. We have even gone so far as to provide detailed spreadsheets for you to model your business, provide formulas for all the different types of transactions, and have broken the calculation down to their most elementary state.

Here is what you need to read through (doesn’t matter who you are, aspiring entrepreneur, a start-up, or an incumbent), the following is the requisite reading in order of priority.

• What is Remittance-as-a-Service (the basic outline of the service as well as the summary of the three pricing plans).
• After this, go through the basic Pricing Comparison Table that highlights the Starter package, Pro package, and Enterprise package pricing plans.
• Read through the individual package plans:
  • Starter Package (starts at $149/month)
  • Pro Package (starts at $749/month)
  • Enterprise Package (starts at $999/month)
• Based on the plan you choose, you need to understand what your monthly total would be, for that, there is a specific spreadsheet called RaaS Pricing Options – What is your monthly total?
• We have even provided sample calculations based on these packages for 1st time customers registering as well as returning customers. We have provide sample calculation with appropriate formulas as well as different payment processing options:
  • Sample Calculation for a remittance originating in value for US$ 250
  • Sample Calculation for a remittance originating in value for US$ 500
  • Sample Calculation for a remittance originating in value for US$ 1,000
• After this, the most common question you will start off with, is what are the payout countries that are supported, for that, there is a complete spreadsheet that contains the name of the Payout Corridor and the Rates that are charged by the payout partner.
• Once you have gone through the above links, you will have perhaps a dozen or so questions on your mind. Which is why, we’ve curated an FAQ (Frequently Asked Questions for Remittance-as-a-Service) based on actual questions asked by potential customers of ours. Chances are, the question you are seeking an answer to, as already been answered. It is imperative that you please read through this FAQ section.
• What sort of due diligence documents would you be required to submit, please read through the Due Diligence Documents Requirement.
• If you wish to understand the broader scope of our services, you can also refer to our global Frequently Asked Questions portal.
• To help you get started with revenue modeling for your business, we have even supplied a starting point (sample spreadsheets) for your start modeling your business. Please refer to Revenue Modeling Sheet for Remittances.
• Finally, read through the Draft Referral Agreement.

RaaS Program Details

Please go through the following program pages that highlight more information on the given subject.

1. What is Money-Transfer-as-a-Service (MTaaS)
2. What is Remittance-as-a-Service (RaaS)?
3. Backstory on Remittance-as-a-Service
4. Remittance as a Service (RaaS) Cheat Sheet
5. Remittance as a Service (RaaS) Solution
6. Comparison Table (Starter, Pro & Enterprise)
7. The Process
8. API, Mobile or Web
9. Pre-Requisites
10. Crypto or Not
11. Correspondent Agreements
12. Understanding Custody of Funds
13. How to submit a detailed Flow of Funds (FoF)?
14. Starter Package
15. Pro Package
16. Enterprise Package
17. RaaS Pricing Options – What is your monthly total?
18. RaaS Total One-time & Monthly Cost Calculator
19. Frequently Asked Questions for Remittance-as-a-Service
20. Sample Payout Corridor & Rates
21. Sample Calculations Where $250 is being remitted
22. Sample Calculations Where $500 is being remitted
23. Sample Calculations Where $1,000 is being remitted
24. Detailed Frequently Asked Questions (FAQ) / Knowledge-base
25. Due Diligence (DD) Documents Requirement
26. Revenue Modeling Sheet for Remittances
27. Payment Schedule for Remittance-as-a-Service
28. Draft Referral Agreement
29. Shall We Test Your Knowledge On Money Transfer?
30. Detailed Pictorial FAQ (Frequently Asked Questions) About Our Remittance-In-A-Box Solution (Outdated)
31. Your own Money Transmitter Licenses versus Remittance-as-a-Service
32. One-Page Cheat Sheet: Remittance-as-a-Service (RaaS)
33. Remittance-as-a-Service (RaaS) Forms
34. Get Started with RaaS

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This page was last updated on February 5, 2024.

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