How To Start A Money Transfer Business - Faisal Khan and Company

How to Start a Money Transfer Business – Video Series

Welcome to a video series I am putting together on how to start a money transfer business. It seems folks don’t have too much time to read lengthy articles or other blog posts, so I thought I’d give it a try by putting up small (read: short) videos that explain some of the nuances. Needless to say, you can argue, each video left this out, or left that out. That is true. Even though as small of a subject each video discusses, it is in NO way complete. There is so much information out there, I am not sure if I or anyone else would be able to compile it together. 

Nonetheless, this is a small endeavor to try to achieve just that.

How To Start A Money Transfer Business?

  1. How To Start A Money Transfer Business? YouTube Series (Intro video)
  2. Financing – How are you getting the money to start this? Friends or Family?
  3. Monetary Requirement – How much money is required to start it?
  4. What “problem” are you trying to solve?
  5. Build versus Lease versus Buy – Which one is the right choice?
  6. Banking, License, Compliance, and Regulations!
  7. What Are Remittances?
  8. Why Are Remittances Important?
  9. Difference between MTL and MSB?
  10. What is Money Transmitter License and How Can You Get One?
  11. Do I Need A License To Start A Money Transfer Service?
  12. How many Money Transmitter Licenses do I require if I have to do business in the US?
  13. Licensing: Agent vs. Program Manager
  14. What is a Correspondent Tie-Up Agreement?
  15. What is a Pre-funded Account?
  16. What is a Payout Partner?
  17. What is a Good Funds Settled Model?
  18. What is an ISO and what do they do?
  19. How will you operate? As a License Holder or as an ISO?
  20. What is a Payment Account? 
  21. What is a Flow of Funds (Time Motion Diagram)
  22. What is Passporting?
  23. What is KYC?
  24. What is KYB?
  25. How Big is the P2P Remittance Market?
  26. How Big is the B2B Market?
  27. What is a Corridor Killer?
  28. Your Business Intelligence Plan?
  29. Negotiating with a Financial Institution – Are You a Good Negotiator?
  30. What Is A Decent Revenue Share For Using Someone Else’s License For Regulatory Coverage?
  31. How to Validate your Problem & Solution Via Field Research?
  32. Are You A Fintech That Is Going From Zero to One?
  33. What is Remittance-As-A-Service (RaaS)?
  34. What are the Pros and Cons of RaaS (Remittance-as-a-Service)?
  35. How Much Does Remittance-As-A-Service (RaaS) Cost?
  36. How Much Do I Charge For RaaS Consulting?
  37. What Does The Value Added Payment Stack in Remittances Look Like?
  38. Why Value-Added Payments In Remittances Reduces Financial Misappropriation?
  39. How Long  Does It Take To Setup A Remittance-As-A-Service Solution?
  40. Is It Possible To Have Real Time Transfers in Money Transfer World?
  41. How Big Is The Real Time Payments Economy in the Money Transfer World?
  42. What is Pre-Funding and How Does it Work? 
  43. What is a Reserve Account?
  44. Why Do You Need a Money Transmitter License If You Are Licensed Outside the U.S.?
  45. What is a Term Sheet?
  46. What Is An FBO (For Benefit Of) Account?
  47. How Much Do Money Transmitter Licenses Cost?
  48. What Does A Program Manager Do?
  49. What Is A Program Manager? (Part II)
  50. What Is Source Of Funds (SOF)?
  51. Is There Fraud In The Money Transfer Industry?
  52. What is Netting Off and How Does it Work?
  53. What is Hawala (or Hundi)?
  54. What is Hawala? (Part Two)
  55. Is There Money To Be Made In The Money Transfer Business?
  56. Is there Money To Be Made in the Money Transfer Business (Part II)?
  57. Are You A Small Money Transfer Operator? 12 Questions You Need To Ask Yourself.
  58. FinCEN Registration & Money Transmitter Licenses
  59. FinCEN MSB Definition for Transactions Under $1000 Per Person Per Day
  60. Is FinCEN Registration Free or Not?
  61. Why FinCEN Registration is NOT a License?
  62. What is Aggregation and How does it Work in the World of Money Transfer?
  63. What are Official and Unofficial Remittances?
  64. Unlicensed Money Transfer! What to do next?
  65. What is a Correspondent Tie-up? & Why is it Necessary?
  66. What is a Tri-Party Correspondent Tie-Up Agreement?
  67. As a Licensed MTO Can You Operate A Bank Account Outside In Another Country?
  68. What If Banks Decide To Close My Account After The Account Has Been Active For Some Time?
  69. Are You A Small Independent Money Transfer Operator That Is Struggling?
  70. The Case For Small Value Remittances
  71. 3rd Party Payment Apps? It Might Be Illegal To Use Them!
  72. USA to Nigeria: Money Transfer using Bitcoins! (or any other country in Africa)
  73. Understanding Custody of Funds in Money Transfer / Remittances
  74. Remittances 2.0 – Crypto in remittances
  75. Difference Between An Authorized Delegate vs Non-Authorized Delegate
  76. How Can A Traditional Money Transfer Business Get Started With Cryptocurrency For Remittances?
  77. I have an idea for an app. Do I need a license to send money all over the world?
  78. Got a Cryptocurrency Project? Think you’re exempt from licensing? Think again!
  79. How Does Hawala Work? How In A Few Minutes, You Can Get Money Across The World, In Your Hotel Room!
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