Money Transmitter License New York

Money Transmitter License New York

Basic information about NY Money Transmitter License

New York Money Transmitter License is one of the Big 3 licenses (other two being California Money Transmitter License and Texas Transmitter License). There is no doubt, the the NY Money Transmitter License is one of the most coveted licenses in the entire money transmitter licensing applications in the United States.

Difficult to get, but extremely valuable once you have it.

The regulator that governs the money transmitter license in New York is the Department of Financial Services or DFS.

DFS NY supervises the following institutions, and money transmitters (as defined by the Banking Law) are also supervised by NY’s DFS.

Information & Resources pertaining to Money Transmitters can be accessed on the following page.

As Money Transmitter Licenses in New York are NOT listed on the  NMLS Consumer Access Database, you can see

The application for money transmitter license for New York can be seen here (PDF). The instructions for the money transmitter license application for New York can be seen here.

The website does not provide an FAQ section, so all materials pertaining to license application for money transmitters is contained within the money transmitter section only.

The Regulations page (under Legal) is extremely important, as it covers all the regulations, notes, comments, etc. Be sure to give it a thorough read.

Also recommended is to visit the Shipkevich PLLC page on Money Transmitter Law (albeit many links are out of date or missing).

If you would like us to evaluate your money transmitter license requirements and see how we can assist you in finding coverage for MTLs, please kindly fill in the application below. All information shared is treated confidential.

Money Transmitter License Application

You may also book an introductory call with us (no-cost / no-obligation) by clicking here.