Who Needs a Money Transmitter License?

The following business activities are required to obtain a money transmitter license in the United States:

  • Debt Management/Credit Counseling
  • Electronic money transmitting
  • Issuing traveler’s checks
  • Selling Traveler’s checks
  • Issuing money orders
  • Selling money orders
  • Bill payment
  • Issuing and/or selling drafts
  • Transporting currency
  • Issuing prepaid access/stored value
  • Selling prepaid access/stored value
  • Foreign currency dealing or exchanging
  • Virtual currency exchanging and trading services
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