If you have been thinking about starting a money transfer service from the United States, then you are well aware of the hurdles like money transmitter licenses in all 50 States, access to banking, payment processing and not to mention the capital required to be able to set up. We provide an affiliate model with […]
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 […]
Worldwide Money Transfer Licenses A common misconception is that by being licensed in one-territory you need not be licensed in any other territory, i.e. one license suffices as a worldwide money transfer license. For companies wanting to engage in worldwide money transmission, they need to obtain licenses in all the countries they are sourcing their […]
Money Transmitter License Law Understanding US Money Transmitter Law is no easy feat. There are federal laws like: FinCEN Consumer Financial Protection Bureau (CFPB) Dodd-Frank Act US Department of Treasury Bank Secrecy Act (BSA) Patriot Act FISMA, etc. Add to this, the money transmitter laws for each state, as rolled out by the financial regulator […]
Money Transmitter License Cost One question that is often asked is How much will a money transmitter license cost ? To answer this question, we have to break down certain things. First of all, the money transmitter license cost varies depending on the number of States and US territories you want to do business in. […]
US Money Transmitter License There are various options when it comes to US Money Transmitter Licenses. You can partner up, apply for your own, or have an arrangement where exemption is provided. Companies outside the US or having a majority of their principal business outside the US are subject to even more scrutiny when it comes […]
Money Transmitter License Requirements The money transmitter license requirements vary from State to State (a list of all the US State Financial Regulators can be found here). The license application itself is not that difficult to pursue. Many applicants file for a money transmitter license for a single state using an attorney / law firm, […]
Money Transmitter License New York Basic information about NY Money Transmitter License New York Money Transmitter License is one of the Big 3 licenses (other two being California Money Transmitter License and Texas Transmitter License). There is no doubt, the the NY Money Transmitter License is one of the most coveted licenses in the entire […]
