I did a presentation on this long ago (The original presentation can be downloaded from here: Uberization of Money Transfer: 12 Questions every small and medium, independent money transfer operator should ask themselves). For months I’ve been thinking of doing an updated version of the presentation into an article, so here it is. It is […]
Hello. My Name is Faisal Khan. I am a banking and a payment consultant. The question I got today in the email is what are some of the top two pros and cons of remittance as a service. They asked for top five, but I’m going to give you top two at least. So, let’s […]
Episode 5 – Money Transmitter License Agent If you are trying to be an agent of someone else’s money transmitter license, you might want to know about this.
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?
Daily Fintech Podcast – Episode 3 – Can a US bank sponsor my company to provide money transmitter license?
Episode 3 – Can a US bank sponsor my company to provide money transmitter license? Can a State or a Nationwide Bank in the US sponsor my money transmitter licenses? Can they be the program manager and sponsor my startup under their license?
Daily Fintech Podcast: Episode 2 – Why do you need a money transmitter license if you are outside the United States, but are signing up US Customers?
Episode 2 – Why do you need a money transmitter license if you are outside the US? Most businesses don’t understand why they need to be licensed in the United States when they are not physically present in the US, especially for financial related products & services. Well, the answer lies with a FinCEN advisory.
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 […]
Money Transfer License Application Money Transmitter license application can vary from state to state and country to country. In some geographical areas, there might be a moratorium from issuing any new licenses, while in some area, no licenses are required. Under no circumstances should you commence even small time operations without have first filed for […]