Money Transmitter Licenses. Does Anyone Have Experience Becoming an Agent?

[Xavier X]

Obtaining a Money Transmitter License is no child's play. From what I gather, the more feasible and easier route (for starters) is to partner with a licensed company, as their agent.
I have spent some time searching for these online, but have only turned up a few potentials. I am trying to avoid partnering with a bank.

So does anyone have any experience with this? I'm trying to get a list of potential companies with streamlined partnership programs to operating under their license umbrella.

 

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[Xavier X]

This is most for currency exchange though, if that provides more detail.

 

[MHP368]

I googled it for you if that helps

I assume you're in the US?

Seems like something you'd want to pay someone else to do.

 

[Xavier X]

I googled it for you if that helps

I assume you're in the US?

Seems like something you'd want to pay someone else to do.

Thanks for googling it for me. However, that wasn't the question I asked.

I read that write-up the very first time I needed information on the requirements to get a license by myself.
I quickly realized it was beyond my capacity, so I started looking into more feasible paths to operate.

That path is to operate under the umbrella of a company with an existing Money Transmitter license in most states. A profit sharing partnership agreement (agency). They take a share of profits, and I get the protection of their license and compliance apparatus. This second kind of set up is what I asked about in here, in case anyone had personal experience doing that and wanted to chime in.

Anyway, I'm currently in partnership talks with a company, and will hopefully work something amicably beneficial with them.

 

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