Episode 4 – What is a Payment Account Lost access to MSB Business Bank Account. Do you know there is something called a Payment Account, which is essentially offering the same services as an MSB Friendly Bank?
What happens when banks in the US close MSB accounts? It is a losing proposition for the government. This is how money then gets transported and lost on the other side in the noise. Tracking it also becomes an issue. The fundamental issue with money is that it flows like water. If you place hurdles […]
List of Money Transmitter Licenses Here is an updated list of entities holding valid money transmitter licenses for New York, Texas and California. List of Money Transmitter Licenses issued in State of NY Updated 26th March 2016 List of Money Services Businesses in State of Texas – List last updated 26th March 2016 California Department […]
Time to take stock of how things are around you! In a recent survey I conducted, we asked MTOs a varying degree of questions, however, these 12 questions were basically used as openers and I decided to share them with you. Small and Medium Money Transfer Operators are facing intense competition and challenging times. Honestly […]
Let’s work together! The art of networking is what business is all about. Meet the right people and you can do business together. Herein lies the problem. Networking takes time. It requires immense trust and vetting before one can take the next step to discuss business. The trust deficit It is no hidden secret, banks, […]
Money Transfer License The world of money transfer licensing can be confusing and often you will be inundated with information. Presented here (in a summarized format) is Information & How-To material on money transfer license / money transmitter licenses for Money Services Businesses (MSBs) or Money Transfer Operators (MTOs). This page is NO longer being […]
Update: Turns out Transferwise also has its Texas License… TransferWise, the online money transfer company started by ex-Skype cofounders: Taavet Hinrikus and Kristo Käärmann and has the venture capital backing of Sir Richard Branson got its first money transmitter license, issued by the State of Maine. TransferWise was previously piggy-backing on PreCash’s license, until PreCash decided […]