The MSB Agent Sponsorship Program guide (FK-V007, Faisal Khan LLC client guide) lays out the path to becoming a licensed money transmitter's Authorized Delegate — operating under a principal's regulatory umbrella while keeping control of funds, customers, branding and correspondent relationships, without holding your own state licences.
The contrast the guide draws is stark: applying for your own licences state by state runs roughly $2.2 million in capital over 18–24 months, while the agent path totals $75,000–$160,000 and can be live in 3–8 weeks — a realistic 30 to 60 days from engagement to live transaction processing for a well-prepared applicant. The recommendation is explicit for businesses with $75,000–$150,000 available and a launch window measured in weeks: "Path B is the optimal entry strategy."
What the guide covers:
- What being an agent actually means — flow of funds control, your own KYC/KYB programme, direct correspondent agreements signed in your own name, and a fully branded customer relationship
- The ten-step process, from documentation preparation through sponsor matching, due diligence, banking setup and go-live
- Faisal Khan LLC's fees — an $18,000 facilitation and brokering fee, split into a $4,500 non-refundable retainer and a $13,500 balance on placement
- Sponsor fees, paid directly to the principal — $25,000–$50,000 onboarding, $3,500–$7,500 monthly platform fees, and per-transaction charges of $0.50–$5.00
- A revenue-sharing scale running from 40–50 basis points under $2 million in monthly volume down to 3–7 basis points above $50 million
- Post-launch obligations — mandatory FinCEN MSB registration, ongoing AML compliance, and periodic sponsor audits that build the regulatory track record needed to pursue your own licences later
Working capital requirements scale from $50,000–$75,000 at $500,000 monthly volume to $300,000+ above $5 million. All pricing in the document is valid for 15 days.