Alaska Money Transmitter License

Alaska Money Transmitter License Overview

Alaska Money Transmitter License Regulator

Money transmission services in Alaska are governed by the Alaska Division of Banking & Securities. Money services businesses dealing with fiat or crypto must get licensed by the Alaska Division of Banking & Securities and enter into a Limited Licensing Agreement (LLA) with the State of Alaska.

Alaska Money Transmitter Requirements

In order to apply for a money transmitter license in Alaska, you have to fulfill the following requirements:


  • Demonstrate a tangible net worth of $25,000
  • Submit Surety Bond worth $25,000 plus $5,000 for each location not to exceed $150,000.


When applying for your license in Alaska, you will have to submit the following documents along with your application:

  • Audited Financial statements
  • Credit Report (along with explanation)
  • Business Plan
  • Bank account information
  • BSA/AML policy
  • Alaska Business License
  • Flow of funds
  • Company formation documents

Depending on your case, you might be required to submit additional documents. You can find a complete list of documents required for a money transmitter license in Alaska here.

Alaska Money Transmitter Cost

Costs for a money transmitter license include paying an application fee and renewal fee, fulfilling the surety bond and net worth requirements, and other expenses. You can find a detailed breakdown of Alaska money transmitter costs in the PDF below. It also includes our professional charges for helping you obtain a money transmitter license in Alaska.

Step-by-Step Guide to Obtain a Money Transmitter License in Alaska

Step 1: FinCEN Registration

All money services businesses are required to register with FinCEN prior to applying for a money transmitter license.

Step 2: Accessing NMLS for Application Forms

Access the NMLS for all licensing-related application forms. Make sure that you go through the forms and read the requirements before starting to fill out the application.

Step 3: Preparing all Your Required Documents

Make sure that you have all the required documents ready prior to applying for a money transmitter license. These include (but are not limited to) a business plan, a compliance program/manual, flow of funds, audited financial statements, etc.

Step 4: Paying the Fees

Your next step will be to pay all the associated fees and make sure that your application is now complete.

Step 5: Wait for Your License

Once you have submitted your application and paid the fee, you will have to wait for your license to be approved. The wait time can be somewhere between 6 to 12 months depending on your case.

This page was last updated on May 30, 2023.

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