How To Start a Money Transfer Business

Flow of Funds for Correspondent Accounts (for Remittance as a Service) – USA Only

A very quick flow of funds diagram on how remittance as a service works from the US. The PS here is the PLH (Principal License Holder). Key: PSP = Principal License Holder (the entity with the money transmitter licenses) [1] Customer signs up using a Correspondent White-labelled Website [2] All Client Registration, AML, KYC, etc. …

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7 Steps on How To Start a Money Transfer Business

7 Steps to Starting a Company in the US with Money Transmitter License Coverage

The Process Learn The Language Fill Out the RAAS (Remittance-as-a-Service) Form Setup A Call Term Sheet Consideration Quote Referral Agreement Introduction to Service Provider So you have decided you would like to start a cross border payments company, whether this is a wallet, a money transfer company like a remittance business, a crypto exchange or …

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