Alabama Money Transmitter License

Alabama Money Transmitter License Overview Who regulates money transmitter licenses in Alabama? According to the Alabama Monetary Transmission Act, money transmitters operating in Alabama are required to obtain a money transmitter license with the Alabama Securities Commission. Who needs a money transmitter license in Alabama? In Alabama, if you are engaged in any of the following business activities, you are required by law to be licensed as a money transmitter. Debt Management/Credit Counseling Electronic money transmitting Issuing traveler’s checks Selling Traveler’s checks Issuing money orders Selling money orders Bill payment Issuing and/or selling drafts Transporting currency Issuing prepaid access/stored value Selling prepaid access/stored value Foreign currency dealing or exchanging Virtual currency exchanging and trading services Alabama Money Transmitter License: Documents Required In order to apply for a license in Alabama, you will need to submit the following documents along with your application in NMLS: ...