money transfer license

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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I have an idea for an app. Do I need a license to send money all over the world?

If you are a startup entrepreneur who is buzzing with an idea for an app, that would transfer money worldwide, make payments seamless, the question you probably are asking yourself: Do I need a license to send money all over the world? The answer is Yes. Always a Yes. To help explain the concept as …

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