Money Transmitter License Puerto Rico

Basic Information about Money Transmitter License In Puerto Rico Any business engaging in the activity of money transmission in Puerto Rico (PR) is required to be licensed. Carrying out money transfer services in Puerto Rico without a money transmitter license is illegal. NMLS authorizes the following activities under this license: Electronic money transmitting Issuing and/or Selling traveler’s checks Issuing and/or Selling money orders Bill paying Issuing and/or selling drafts Issuing and/or Selling Prepaid access/stored value Check cashing Exchange, manage or maintain convertible virtual currency. Operate BTMs. Puerto Rico Money Transmitter License Regulator Money Transmitter License in PR is regulated by the Office of the Commissioner of Financial Institutions. ...