MSB Banking Prequalification Questionnaire

Note: MSB Banking Prequalification Questionnaire is for informational purposes only and does not constitute an offer or commitment by the Bank.

1. Financial Information:

• Most recent 3 years of Financial Statements:

  • Income Statement

  • Balance Sheet

  • Cash Flow Statement

• 3-year Financial Statement Projection: Please provide a projection of your company's financial performance for the next three years.

2. Business Description:

• Company Overview:

  • Describe your company's US operations, including its history, mission, and key products/services.

  • Classify your company as a Money Services Business (MSB) and specify your primary function (e.g., payment processor, money transmitter, check casher).

• Customer Base:

  • Describe your customer base, including the types of customers you serve (e.g., individuals, businesses, merchants, other money transmitters).

• Business Lines:

  • Describe your company's business lines and identify which lines will be moving to the Bank.

  • Specify the percentage of your business expected to be processed through the Bank.

• Banking Services:

  • Describe the bank services you require for each account you wish to open with the Bank.

  • Explain how each account will be used in your business operations.

  • Describe the services you offer to your customers through the Bank relationship and through other relationships.

• Funds Flow:

  • Provide a detailed diagram and narrative explaining how money will flow into and out of your Bank account(s).

  • Specify the payment methods you will use (e.g., wire transfer, debit card, check) and provide anticipated transaction volume and dollar amounts for each method.

• Agents (Optional):

  • If you use agents, please provide a list of their names and addresses.

• Partners and Correspondents:

  • List the payout/payin partners or correspondents you use and their locations.

  • Indicate whether each partner is primarily used for payouts or payins.

• Independent Program Audit:

  • Please provide a copy of your most recent independent program audit.

3. Ownership Structure:

• Type of Ownership:

  • Indicate whether your company is privately owned, owned by investors, or foreign-owned.

• Principal Information:

  • Provide bios of your company's principals/owners and the US-based compliance officer.

  • Specify the percentage of ownership for each principal/owner.

  • If your company is owned by another business, identify the principal/owners of that business.

  • Clearly identify the individual with ultimate control of the US entity.

4. Legal Review:

• Regulatory Compliance:

  • Have you, your parent company, or any principal/owner ever been found guilty of financial crimes?

  • Have you, your parent company, or any principal/owner ever been subject to regulatory fines, actions, lawsuits, or significant negative media coverage?

Please note: MSB Banking Prequalification Questionnaire is not exhaustive and may require additional information depending on the specific nature of your business and the Bank's risk assessment.

To ensure a seamless and efficient onboarding experience, we strongly recommend submitting comprehensive and precise information.