Money Transmitter License Coverage Options Explained

The question in full

You can select specific US states for money transmitter license coverage. Pricing depends on the number of states and inclusion of high-regulation states like TX, CA, and NY. Different tiers apply for fewer than five states, up to nationwide coverage, along with a non-refundable application fee.

Answer

If so, how does the pricing work, can you explain briefly?

Certainly. You have the following four options:

Less than 5 states and NOT including TX, CA, or NY, the one-time referral fee that we charge is USD 10,000
Less than 5 states and including ONE of the following three states: TX, CA or NY, the one-time referral fee will be USD 12,500
Less than 10 states and including ONE or more of the following three states: TX, CA or NY, the one-time referral fee will be USD 18,000
Nationwide Coverage (or more than 10 states and the big three, TX, CA, and NY) agent status, the one-time referral fee will be USD 20,000

All of the above carry a one-time, non-refundable application fees of US$ 1,500.

Can I pick and choose a few US states for which we require money transmitter license coverage? If so, how does the pricing work?

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