Systematize Payment License For Free

$3,000 application fee. $15 credit report fee (per person)

A money transmitter is a service that transfers money for businesses. In the United States, they are a category within a larger group of Money Service Businesses, also known as MSBs. Any business that issues money orders, traveler's checks, or other types of monetary value can be classified as an MSB.

Money transmitters are typically required to meet certain financial requirements to obtain a license. This may include providing audited financial statements, demonstrating adequate capital reserves, and maintaining a surety bond or other form of financial security to protect customers.

Online - This is the easiest way to pay annual regulatory fees, outstanding bills from the FCC, or application fees for electronically filed applications. Pay by credit card or debit from a bank account. FCC Form 159 - This form is used to accompany payments by check, as well as to effectuate wire transfer.

To start a remittance business you need to have a license and a reliable payment system, but software development is a complex process that requires a huge amount of resources. You can find the right software partner to accelerate the development of the payment product and meet your customers financial needs.

Use the CORES Payment System To Pay Regulatory Fees Pay quickly and accurately online by credit card or debit from a bank account. Electronically submit a large volume of fees, with no paper filing for online payments.

The Money Transmitter Division of DFPI licenses and regulates money transmitters, which includes issuers of payment instruments (money orders), travelers checks and stored value. The California money transmission laws are found in the California Financial Code, Division 1.2, commencing with section 2000.