Tennessee Money Transmitter License

Tennessee Money Transmitter License Overview Who Needs a Money Transmitter License in Tennessee? Any entity that engages in the business of money transmission and provides such services to Tennessee residents, unless certain exemptions apply, must be licensed pursuant to the Tennessee Money Transmitter Act(“TMTA”). The TMTA defines “money transmission” in Tennessee Code Annotated (“TCA”) Section 45-7-203(10) as follows: “The sale or issuance of payment instruments or engaging in the business of receiving money for transmission or transmitting money within the United States or to locations abroad by any and all means, including, but not limited to, payment instrument, wire, facsimile or electronic transfer.” ...