Do you Need a US Money Transfer License if You’re Licensed Elsewhere?

Yes, you do. If you're licensed outside US and pick up customers within the United States without a money transfer license, you're violating a US law. Yes, that's right. The US government makes no distinction between money transfer operating within the country and money transfer companies licensed outside the US, but picking up US customers. … Continue reading Do you Need a US Money Transfer License if You’re Licensed Elsewhere?

Money Transmitter Licenses for a Startup

Money transmitter licenses are necessary for businesses that are providing financial services in the United States. According to FinCEN guidelines, you may be classified as a money services business, or MSB, if you are: " (1) Currency dealer or exchanger. (2) Check casher. (3) Issuer of traveler's checks, money orders or stored value. (4) Seller or redeemer of … Continue reading Money Transmitter Licenses for a Startup