MSB Banking or Money Services Business Banking are financial services specifically catered for the MSB / Money-Transfer industry. After the introduction of Operation Choke Point, gaining access to banking for the money transfer / money services business has been a huge issue.
Bonafide, licensed MSBs are finding it difficult by the day to get an MSB Business Bank Account with their local or regional banks. Nationwide banks have all but ousted (or de-risked) the MSB businesses from their portfolio. If you are a fintech startup, Bitcoin startup, check cashing business, money transfer company, or a payments company that is classified as an money transfer company, gaining access to MSB banking can be challenging.
As part of our portfolio of services, we help businesses get access to MSB banking.
- MSB Friendly Banking
- MSB Banking: De-Risking Issue
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This page was last updated on January 3, 2020.