We offer two solutions that cater to different needs. As a licensing option in the United States, we have two choices- owning or leasing. It’s worth mentioning that many people are not aware of the leasing option, which involves getting sponsored for a license.
PART A: Applying for Your Own Money Transfer License
If you’re interested in applying for your own money transfer license, we’ve compiled essential information on the costs, requirements, and procedures involved. Please click on the links below to explore your options:
- Overview of U.S. Money Transfer License Process
- Licensing Costs and Fee Breakdown
- Summary Table for US Money Transmitter License
- New Application: US Money Transmitter License
PART B: Utilizing Remittance-as-a-Service (RaaS)
Alternatively, you may consider using our Remittance-as-a-Service (RaaS) solution, which allows you to be sponsored for a license in the U.S. without going through the lengthy application process yourself. It is important to note it includes banking, payment processing, licensing, compliance, reporting, and transaction monitoring, etc.
Please note: This is just one type of sponsorship we offer. We have many more. Please inquire within.
Please note: RaaS solution offering is for Person-to-Person (P2P) transfers only. If you are seeking a B2C or B2B cross-border money transfer, then please contact us as we have a separate solution offering for that.
Also note, in its current form, RaaS does not support cryptocurrency.
To learn more about this innovative service, please click on the links below:
- Introduction to Remittance-as-a-Service
- Summary for RaaS for the United States
- RaaS: Professional Package
- RaaS: Enterprise Package
We provide all the necessary tools for you to easily calculate pricing for both options. We’ve included a public pricing sheet that can be accessed through the link provided, as well as two explainer videos that walk you through the pricing model. These videos are easy to follow, and we encourage you to watch them at your convenience. The Google Sheets are provided in the comment section of the video, allowing you to copy, save, and adjust the sheet as needed.
We also have a page from where you can access various Google Sheets that can be used for modeling. Please see the appropriate accompanying videos as well. (Suggest you view #1 and #4)
Link: https://faisalkhan.com/solutions/money-transfer-and-remittances/financial-modeling/
Oh, and if you want to learn the Money Transfer Business quickly, you can start with this YouTube Playlist for Free: How to set up a money transfer business (YouTube Series)
Thank you for considering our products, and we look forward to hearing back from you soon.
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This page was last updated on May 31, 2023.
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