Money Transmitter License Search

The Essentials of a Money Transmitter License Search

In the realm of financial services, verifying a business’s legitimacy through a ‘money transmitter license search’ is as crucial as the business obtaining the license itself.

Conducting an MTL search involves confirming the validity of a company’s license to operate as a money transmitter. Here are quick steps to help you perform an effective search:

  1. Use National Multistate Licensing System (NMLS): The NMLS provides licensing information for various financial service providers in the US, including money transmitters. Click here to access the NMLS.
  2. Check with State Regulatory Authorities: Each state’s financial regulatory authority usually provides an online search function to verify licenses. Click here for a list of all US State Financial Regulators for Money Transmission.
  3. Verify with Federal Agencies: For international money transmitters, agencies like FinCEN maintain a list of registered businesses. Click here for FinCEN.
  4. Consult Company Website: Legitimate businesses often display their license information on their website.
  5. Contact the Company: If you can’t find licensing information, ask the company directly.

In conclusion, conducting a money transmitter license search is a fundamental step to ensure your financial transactions are secure and your business partners operate within the boundaries of the law.

This page was last updated on May 31, 2023.

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