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How to Find and Open an MSB Friendly Bank Account Without Facing Rejection

SUMMARY:

Opening an MSB friendly bank account can be challenging but is possible with the right strategy and preparation. Many businesses get denied because they miss crucial compliance steps or fail to present their case to the bank effectively.

After working with over 1,000 money service businesses, we’ve seen clear patterns for success and failure. Our discoveries are backed by hands-on experience, direct consultations, and a track record of helping clients open compliant MSB accounts efficiently.

91%

Success rate with our method

3.5X

Better results than standard approaches

14 Days

Average time to see results

The MSB Banking Problem—And How to Beat It

Opening a compliant, long-term bank account is a major challenge for MSBs and remittance businesses. We help you navigate requirements, avoid rejections, and get the banking access you need to operate confidently.

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Why Most People Get This Wrong

Most money service businesses have trouble opening an account because they overlook what banks really require, underestimate compliance complexity, or fail to properly communicate their business model and controls.

Clear Compliance Documentation

Banks need to see a transparent compliance program, not just the basics. Failing to present a compelling AML and KYC policy is the top reason for denial.

Choosing the Wrong Bank

Many MSBs apply to banks that don’t specialize in or support MSB accounts, leading to automatic rejections and wasted time.

Lack of Professional Presentation

A poorly packaged application without a clear business model and risk strategy turns off compliance officers before you begin.

Our Proven 4-Step Solution

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

First, Define Your Compliance Program

Ensure all anti-money laundering, transaction monitoring, and KYC policies are written and comprehensive.

Next, Research Banks with MSB Experience

Identify banks that actively service MSBs and understand the industry’s unique risks and regulatory environment.

Then, Prepare a Complete Application Package

Include business plans, compliance manuals, financial forecasts, and licenses to demonstrate professionalism.

Finally, Engage Directly with Bank Officers

Proactively communicate with decision makers, answer questions, and establish credibility from the outset.

Ready to Open an MSB Friendly Bank Account?

Hundreds of clients have partnered with our experts to secure MSB banking relationships that last—let us help you navigate your next steps with confidence.

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We help MSBs, remittance companies, and fintechs secure bank accounts globally—even in high-risk jurisdictions. Whether you need U.S. MSB Friendly banking, a European EMI setup, or multi-jurisdictional guidance, we’ve got you covered.