Money Transmitter Compliance Solution
Businesses that collect money from one party and deliver it to another party fall into a category of money service businesses called money transmitters. These businesses are required to register as money transmitters in all fifty states and must register with FinCEN. Registration is costly, inefficient and subjects the business to audits from regulators in all fifty states.
Our product is a fully compliant nationwide money transmitter solution. Under our structure, the money service business does not need to license with any state or FinCen and is not subject to audit by the individual regulating entities. How does it work?
We engineer programs that will allow you to contract with a regulated financial institution to process the payments in a manner that is compliant with the laws in all 50 states.
Here are the steps:
1. We review your business practice to determine if you qualify for the program.
2. Make recommendations to correct any compliance issues.
3. We present you to the financial institution so that you can secure a contract.
That's it. That is our business.
And, if you qualify, we can get you up and running in as little as 60 days. With this solution, a money service business can expect to reduce expenses significantly, simplify their business and obtain nationwide compliance immediately.
Contact us for more information.