Texas MTL Guide
Texas Money Transmitter License is one of the Big 3 licenses along with the California Money Transmitter License and the New York Money Transmitter License. As such, it is one of the licenses that can be fairly difficult to obtain if you are a new business or startup.
Regulation for TX MT licenses
The regulator that governs the license in Texas is the Department of Banking. All new applications are handled by the NMLS.
The Money Services Business page contains all the relevant information that a new or renewing application would need regarding an MTL in Texas.
How to Obtain a Money Transmitter License in Texas?
This checklist can be found on the NMLS website or accessed here.
Also included are the various Supervisory Memorandums (which are a must-read) under the Law & Guidance Manual, as well as various enforcement orders related to MSBs.
The general money transmitter license application for Texas requirements overview can be accessed here.
The application forms for money transmitter licenses in Texas are available on the main money services business section as well as on the application and forms section. The application can be accessed here.
It is highly recommended you read the official Frequently Asked Questions (FAQ) section on how to apply for a money transmitter license in Texas.
In Texas, these licenses are listed both on the NMLS Consumer Access Database, as well as the searchable database of money transmitters in Texas.
A net worth of at least $500,000 is required.
A surety bond of between $300,000 and $2 million will be needed to be approved.
A $10,000 application fee is charged for first-time applicants.
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This page was last updated on July 26, 2023.
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