Iowa Money Transmitter License

Iowa Money Transmitter License Overview Who Controls the Iowa Money Service License The Iowa Division of Banking issues a Money Service license to entities involved in the business of currency exchange or money transmission. Currency exchange means receipt of compensation from the exchange of money of one government for money of another government. Money Transmission means any of the following: selling payment instruments to one or more persons or issuing payment instruments which are sold to one or more persons; or conducting the business of receiving money or monetary value for transmission; or conducting the business of receiving money for obligors for the purpose of paying obligors’ bills, invoices, or accounts. ...