Money Transmitter License in 60 Seconds

What is a Money Transmitter License? A money transmitter license is a government-issued permit that allows businesses to send or receive money on behalf of others. Money transmitters typically include companies that offer wire transfers, money orders, and other forms of payment. Who Needs a Money Transmitter License? In the United States, money transmitter licenses are required by all 50 states and the District of Columbia. The requirements for obtaining a license vary from state to state, but they typically include having a certain amount of capital, submitting to background checks, and maintaining certain financial records. ...