Barring your referral fees, realistically what is the most minimum amount we can start a money transfer business with?

This is a tough question, it depends on which provider will work with you. Barring our fees (which can be a minimum of US$ 7,500 or a maximum of US$ 28,000) this is what you typically should prepare for:

(i) Reserve Requirement: US$ 5,000 (minimum)
(ii) Pre-funding Amount: US$ 5,000 (minimum),
(iii) One-time Setup Fees: US$ 2,500 (minimum), and
(iv) Monthly Fees: US$ 248/month (minimum).

If we take these amounts, then you’re looking at a minimum of US$ 23,000 approximately to go live. This is assuming you would make your own app (using the API) and also there is no room for sales and marketing budget.

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