Us Money Transmitter License Options

This article will explore the different ways you can obtain a money transmitter license in the US. It is necessary to have such a license in order to legally conduct business as a money transmitter in the country. The following options are available for obtaining a money transmitter license In order of difficult (from lowest to highest): Affiliate Correspondent Correspondent / ISO Authorized Delegate Licensed Banking Agent Affiliate As an affiliate, you don’t hold a license yourself but rather promote the products or services of a licensed company and earn a commission for each sale you generate. You don’t have any legal ownership over the clients you bring in and are not involved in handling their funds. These responsibilities lie with the licensed company, also known as the principal license holder. As an affiliate, you are only responsible for promoting the company’s offerings and bringing in new business. ...