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Money Services Business (MSB) Registration Services

Money Services Business (MSB) Registration Services

Fintechs that move money or value often need to register as a Money Services Business (MSB) with FinCEN and obtain money transmitter licenses at the state level. We help companies understand the regulatory requirements and guide them through both FinCEN registration and the state licensing process.

Fintechs that move money or value often need to register as a Money Services Business (MSB) with FinCEN and obtain money transmitter licenses at the state level. We help companies understand the regulatory requirements and guide them through both FinCEN registration and the state licensing process.

As seen on:

As seen on:

As seen on:

Eligibility

Eligibility

Who Needs to Register as a Broker-Dealer?

Not every firm involved in securities must register as a broker-dealer, but most entities that buy or sell securities for themselves or on behalf of others are required to. Below are common types of businesses that typically must register.

Payment Platforms

Apps and platforms that let users send, receive, or hold money on their behalf often qualify as money transmitters and need an MSB registration.

Payment Platforms

Apps and platforms that let users send, receive, or hold money on their behalf often qualify as money transmitters and need an MSB registration.

Crypto Companies

Exchanges, wallets, or platforms that let users buy, sell, or transfer crypto are considered MSBs under FinCEN guidance.

Crypto Companies

Exchanges, wallets, or platforms that let users buy, sell, or transfer crypto are considered MSBs under FinCEN guidance.

Prepaid and Stored Value Providers

Businesses that issue or manage prepaid cards or digital value (like wallet balances or credits) are generally required to register.

Prepaid and Stored Value Providers

Businesses that issue or manage prepaid cards or digital value (like wallet balances or credits) are generally required to register.

International Payment Tools

Any service that sends money across borders or uses blockchain to move value between users is likely required to obtain state-by-state money transmitter licensing.

International Payment Tools

Any service that sends money across borders or uses blockchain to move value between users is likely required to obtain state-by-state money transmitter licensing.

Money Services Business Regulations
FinCEN Registration
Money Transmitter License
NMLS Application
Regulatory Exams
MSB Compliance

Steps

Steps

How to Register as a Money Services Business and Get State Licenses

01

Confirm If MSB Rules Apply

Identify where your customers are and what your product does. This helps determine which state licenses you'll need and whether federal MSB rules apply. If you transmit money or value for users, you likely fall under MSB rules.

Money Services Business Regulations

01

Confirm If MSB Rules Apply

Identify where your customers are and what your product does. This helps determine which state licenses you'll need and whether federal MSB rules apply. If you transmit money or value for users, you likely fall under MSB rules.

02

Register With FinCEN

If you're an MSB, you must register with FinCEN within 180 days of starting operations. This means submitting Form 107 through the BSA e-filing system. Form 107 includes basic company info, ownership details, and your compliance contacts.

FinCEN Registration

02

Register With FinCEN

If you're an MSB, you must register with FinCEN within 180 days of starting operations. This means submitting Form 107 through the BSA e-filing system. Form 107 includes basic company info, ownership details, and your compliance contacts.

03

Prepare for State Licensing

Most MSBs need a money transmitter license in each state where they operate. You'll need documents like a business plan, an AML program, audited financials, and surety bonds.

Money Transmitter License

03

Prepare for State Licensing

Most MSBs need a money transmitter license in each state where they operate. You'll need documents like a business plan, an AML program, audited financials, and surety bonds.

04

Apply Through NMLS

Each state application typically requires financial statements, bonding, background checks, and your compliance documentation. Most states use the Nationwide Multistate Licensing System (NMLS).

NMLS Application

04

Apply Through NMLS

Each state application typically requires financial statements, bonding, background checks, and your compliance documentation. Most states use the Nationwide Multistate Licensing System (NMLS).

05

Respond to Regulator Questions

State regulators often request clarifications or additional documents. Staying organized and responsive helps keep the process moving.

Regulatory Exams

05

Respond to Regulator Questions

State regulators often request clarifications or additional documents. Staying organized and responsive helps keep the process moving.

06

Maintain Ongoing Compliance

Once licensed, you’ll need to handle renewals, financial reporting, AML reviews, and other requirements to stay in good standing.

MSB Compliance

06

Maintain Ongoing Compliance

Once licensed, you’ll need to handle renewals, financial reporting, AML reviews, and other requirements to stay in good standing.

How We Help

How We Help

How We Support Your MSB Registration Process

We guide fintechs through the full lifecycle of becoming a registered MSB. That includes helping you determine whether MSB registration with FinCEN is required, identifying which state money transmitter licenses apply, and preparing all necessary filings. We also help you structure and organize your compliance program. We handle the day-to-day work, track deadlines, and manage licensing projects as needed. Instead of hiring a single compliance officer, our clients get a team with deep experience in money movement, crypto, and complex fintech models.

FAQ

FAQ

Frequently Asked Questions About MSBs

Frequently Asked Questions About MSBs

Do MSBs need to register with FinCEN?

Do MSBs need to register with FinCEN?

Do MSBs need a license in every state they operate?

Do MSBs need a license in every state they operate?

What is a money transmitter license?

What is a money transmitter license?

What is the difference between FinCEN registration and state licensing?

What is the difference between FinCEN registration and state licensing?

Get Support With Your MSB Registration

Get Support With Your MSB Registration

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By submitting this form, you consent to be added to our mailing list and to receive marketing communications from us. You can unsubscribe at any time by following the link in our emails or contacting us directly.