If you’re looking for an MSB-friendly bank account, you might be wondering whether you should apply for a U.S. MSB-friendly account or a non-U.S. MSB-friendly account. The difference is simple: where the account is domiciled.
1. What is a U.S. MSB Friendly Bank Account?
A U.S. MSB-friendly bank account is a money services business (MSB) account issued by a financial institution inside the United States.
✅ Who can apply?
- Anyone who qualifies, whether they are inside or outside the U.S.
- Your business location does not matter—you can apply as long as you meet the requirements.
📍 Key point: The account itself is domiciled in the U.S. and operates under U.S. banking regulations.
2. What is a Non-U.S. MSB Friendly Bank Account?
A non-U.S. MSB-friendly bank account is also an MSB account, but it is issued by a financial institution outside the U.S.
✅ Who can apply?
- Anyone in the world, including businesses based in the U.S. or anywhere else.
- The only difference is that the account is domiciled outside the United States and follows the regulations of the issuing country.
📍 Key point: The account is not linked to a U.S. financial institution—it is provided by a bank or financial entity located elsewhere.
3. Which MSB Friendly Bank Account Should You Choose?
- If you need an account that is issued and operates under U.S. financial regulations, choose a U.S. MSB-friendly bank account.
- If you prefer an account from a financial institution outside the U.S., choose a non-U.S. MSB-friendly bank account.
Example:
- A money transfer operator in the U.K., Hong Kong, or Australia can still apply for a U.S. MSB-friendly bank account—they just need to meet the qualifications.
- Likewise, a business in the U.S. can apply for a non-U.S. MSB-friendly bank account if they prefer to operate under non-U.S. banking jurisdictions.
Final Clarification
There are no restrictions on who can apply—the only difference is where the account is domiciled. Choose based on your business needs and regulatory preferences.
If you’re ready to apply, select the appropriate option below:
🔹 Apply for a U.S. MSB-Friendly Bank Account
🔹 Apply for a Non-U.S. MSB-Friendly Bank Account
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This page was last updated on March 17, 2025.
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