Video library
Short explainers on licensing, banking, payments, crypto, and compliance — recorded over a decade of answering the same questions. Most run under ten minutes. None of them are marketing.
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In OrderIf you watch three, watch these
So you want to start a money transfer business?The honest version. What the business actually is before you spend anything on it.Starting Out10 things to know before starting your own money transfer businessThe ten things people wish they had known. Most of them are about money, not technology.Starting OutDo I need a license to start a money transfer service?The question that decides everything downstream, answered without hedging.Licensing
Collection A
20 VideosStarting and building the business
Before licensing, before banking, before technology — whether the business works at all.
7 steps to starting a cross-border payments companyHow do you start a money transfer business in the United States?How to build a small payments (money transfer) company12-pivot points for money transfer operators5 things to do today to better your money transfer business in the USAre you a small independent money transfer operator that is struggling?12 questions you need to ask yourself as a small operatorCan small money transfer operators survive?As a money transfer company, what are your top 5 problems?Money transfer business will suffer. What to do?Financial modeling for the money transfer businessHow to validate your problem and solution via field researchBudget tipBuild versus lease tipCompliance and law tipFinancing tipProblem tipHow to start a money transfer business? (Updated intro message)Watch this if you are a small money transfer business in the USNegotiating with a financial institution — are you a good negotiator?Collection B
24 VideosLicensing and regulation
Which license, whether you need one, what it costs, and what happens if you operate without one.
What is a money transmitter license and how can you get one?Difference between MTL and MSB?Why FinCEN registration is NOT a licenseFinCEN registration and money transmitter licensesIs FinCEN registration free or not?FinCEN MSB definition for transactions under $1,000 per person per dayHow many money transmitter licenses do I require to do business in the US?Nationwide coverage vs. the must-have states?Single-state license in the United States — what can you do with it?How much do money transmitter licenses cost?How much does a money transmitter license cost? Some figures for youCan I rent or lease a money transmitter license?Are you looking for money transmitter licenses?Leveraging a licenseHow will you operate? As a license holder or as an ISO?E-money license in the United StatesWhy do you need an MTL if you are licensed outside the US?Unlicensed money transfer — what to do next?I have an idea for an app. Do I need a license to send money worldwide?3rd party payment apps? It might be illegal to use themFAQ on MTL sponsorship under an ISO program for the United StatesWhat is a decent revenue share for using someone else’s license?Legal opinion: why banks do not provide one for your flow of fundsLegal contracts — do you have a say in them?Collection C
15 VideosAgents, correspondents and partners
Operating under somebody else’s permission — and what each arrangement actually gives you.
Correspondent vs agent (authorised delegate)Difference between an authorised delegate and a non-authorised delegate3 axioms to be an agent of a money services business (US)Licensing: agent vs program managerWhat does a program manager do?What is a program manager? (Part II)What is a program manager? (Updated)What is an ISO and what does it do?What is a bank-led sponsorship?What is a correspondent tie-up agreement?What is a correspondent tie-up, and why is it necessary?What is a tri-party correspondent tie-up agreement?What is a payout partner?Flow of funds for correspondent accounts (US only)MLS-type collaboration for money transfer businessesCollection D
17 VideosBanking, accounts and custody
Getting an account, keeping it, and who legally holds the money at each step.
What is an FBO (For Benefit Of) account?Understanding custody of funds in money transfer / remittancesFDIC insured vs. non-FDIC insured accountsWhat is a reserve account?What is a payment account?What is a prefunded account?What is pre-funding and how does it work?Explanation of cross-border money transfer (pre-funded and non-pre-funded)As a licensed MTO, can you operate a bank account in another country?What is the difference between a state and a federally chartered bank?How does SWIFT work?Merchant account — you have to apply and qualify for itUnderstanding merchant account zones for acquiringCard acquiring options for money transfer operatorsCard processing for your money transfer businessACH chargebacks in the US (for money transfer operators)USD prepaid debit card issuance for users outside the United StatesCollection E
13 VideosRemittance-as-a-Service and infrastructure
Buying the rails instead of building them — cost, timeline, and what you give up.
What is Remittance-as-a-Service (RaaS)?What are the pros and cons of RaaS?How much does Remittance-as-a-Service cost?How long does it take to set up a RaaS solution?You do not have to be afraid of RaaS from the United StatesWant to start a money transfer company? Have you considered RaaS?Where does your company need to be registered (for RaaS)?So you want to start a money transfer service? (RaaS)Money Transfer as a Service (MTaaS) — general presentationWhat is aggregation and how does it work in money transfer?Difference between an aggregator and a super APIDemo of white-label, skinnable mobile app for remittancesIs it possible to have real-time transfers in the money transfer world?Collection F
09 VideosCrypto and digital assets
Where crypto genuinely helps a payments business, and where it just adds a license requirement.
Got a cryptocurrency project? Think you’re exempt from licensing? Think againStarting a crypto-related money transfer business? Understand regulationsFive things you can do to get started with crypto — no fluffHow can a traditional money transfer business get started with crypto?How stablecoins have failed for value transfer in cross-border paymentsWhy understanding cryptocurrencies is importantUSA to Nigeria: money transfer using BitcoinWill MTOs go out of business when Libra comes online?What is the Travel Rule?Collection G
14 VideosMarket size and opportunity
How big each segment actually is, from someone who dislikes inflated numbers.
How big is the P2P remittance market?How big is the B2B (business to business) market?How big is the B2B market compared to the P2P market?How big is the market size for small value transfers?How big is the real-time payments economy in money transfer?Real-time payments — the trillion dollar opportunity (seriously)The case for small value remittancesThe next big thing? MicropaymentsQuick understanding of hyperlocal paymentsFragmentation of payments — the $6.42 problemUSA to Nigeria money transfer businessIs there money to be made in the money transfer business?Is there money to be made in the money transfer business? (Part II)MTOs as cash-out points — app ideaCollection H
14 VideosPricing, FX and revenue
Where the margin is, who pays the fee, and how rates are really constructed.
What is the mid-market rate (or interbank rate)? Why is it important?Currency cross rate — what is it?What are exotic currencies, and why are they called exotic?Volume fees — what’s the magic number?Percentage-only transactions — removing network access chargesWho pays for the remittance fees — customer or MTO?Why do prices vary in different markets?What is a corridor killer?Revenue modeling Google Sheet for remittancesValue addition in money transfers (remittances)What does the value-added payment stack in remittances look like?Why value-added payments reduce financial misappropriationWhat is netting off and how does it work?What is a good funds settled model?Collection I
13 VideosCompliance, fraud and risk
What the regulator and your bank are looking for, and where the industry actually gets hurt.
Are remittances a source for money laundering?Is there fraud in the money transfer industry?What is KYC? Know Your CustomerWhat is KYB — Know Your Business?What is a UBO (Ultimate Beneficial Owner)?What is the Source of Funds (SOF)?What is a due diligence information packet?What central banks look for in remittances5 questions before starting a money transfer business to high-risk countriesWhat is shadow banking?What are official and unofficial remittances?What is Hawala (or Hundi)?What is Hawala? (Part II)Glossary On Film
12 Terms“What is…?” — one term, one video
Short definitions that stand on their own, for when a counterparty uses a word and you would rather not ask. Many more sit inside the collections above.
What are remittances?Why are remittances important?What is liquidity?What is a financial intermediary?What is a flow of funds (FoF)?What is a term sheet?What is a term sheet consideration?What is a remittance contract?What is a third-party payment processor?What is CVV (Card Verification Value)?Wallet vs. remittancesWhat is a corridor killer?
Dates matter here
Some of these were recorded years ago. Fee figures, thresholds, and regulator names change. The mechanics hold; the numbers may not. Check the upload date before quoting anything.
Watched enough to know what you need?
The videos cover the general case. Your flow of funds is specific. One call is usually enough to tell you which pathway wins in your target market.
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