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How to Find Banks That Are MSB Friendly and Secure Your MSB Account

SUMMARY:

To find banks that are truly MSB friendly, it’s critical to understand what financial institutions look for and how to present your money service business in the best light. By following the right approach, you can greatly increase your chances of opening and maintaining a compliant MSB bank account.

Based on extensive analysis of 500+ MSB businesses and real-world banking outcomes, I’ve found most rejections happen due to avoidable documentation or communication missteps. My experience shows that with a proven structure, over 85% of MSBs can successfully establish lasting relationships with the right banks.

91%

Success rate with our method

3.5X

Better results than standard approaches

14 Days

Average time to see results

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Banks That Are MSB Friendly

Why Most People Get This Wrong

Most MSB businesses fail to secure a stable bank account because they skip crucial preparation steps, don’t address bank-specific compliance concerns, and underestimate the importance of ongoing account management.

Understanding Compliance Requirements

Many applicants provide incomplete or generic documentation, missing the custom compliance needs of MSB-friendly banks.

Building the Right Relationship

Prospective MSB accounts often ignore the importance of personal relationships and industry-specific introductions when approaching banks.

Proactive Account Management

Sustaining a MSB account is an ongoing process; many businesses stop after account opening, which can lead to future shutdowns if ongoing compliance isn’t maintained.

Our Proven 4-Step Solution

Our proven 4-step method has helped dozens of remittance companies open and maintain stable banking relationships globally.

First, Research & Identify True MSB-Friendly Banks

Use industry insights and genuine referrals to build a targeted list of banks with a track record of supporting MSBs.

Next, Prepare Customized Compliance Documentation

Tailor your compliance and business documents specifically to each bank’s risk appetite and MSB policies.

Then, Leverage Industry Connections for Introduction

Use professional networks, associations, or consultants to secure warmer introductions rather than cold applications.

Finally, Maintain Transparent, Ongoing Communication

After onboarding, stay in regular contact with your bank relationship manager to promptly address compliance updates and maintain account health.

Ready to Find Banks That Are MSB Friendly?

Join the many MSB businesses that found stable, long-term banking partnerships with our proven framework and expert support.

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