Money Services Business Licence — United States
Federal + state licensing required. FinCEN + States regulated. Capital from $5k–$1M+ per state. Typical timeline 3–24 months.
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Why United States for Your Money Services Business Licence?
The US is the world's largest financial services market. Despite the complexity, US licensing provides access to an enormous consumer and business market.
The US requires both federal FinCEN registration and individual state money transmitter licences. Each state has its own requirements.
Licence Requirements
Detailed Requirements
FinCEN registration is straightforward but state MTLs require surety bonds ($5,000 to $1 million+), capital requirements, audited financials, and detailed compliance documentation.
Application Process
Regulatory Strategy
We assess your business model and regulatory position to develop a clear licensing strategy.
Business Plan
We prepare a comprehensive business plan meeting the regulator's expectations.
Programme of Operations
Detailed programme of operations covering governance, compliance, and operational arrangements.
Compliance Framework
Full AML/CFT framework, compliance monitoring programme, and risk management policies.
Application Submission
We compile and submit the complete application package to the regulator.
Regulator Review
We manage all regulator communications and information requests during the review period.
Authorisation
Upon approval, we support your transition to live operations.
Process Detail
FinCEN registration takes days. State MTLs take 3 to 24 months per state.
United States vs United Kingdom
| Criteria | United States | United Kingdom |
|---|---|---|
| Capital | $5k–$1M+ per state | No requirement |
| Timeline | 3–24 months | 1–3 months |
| Regulator | FinCEN + States | HMRC |
| Key Feature | Federal + state licensing required | Straightforward registration, AML focus |
Frequently Asked Questions
The capital requirement for a money services business licence in United States is $5k–$1M+ per state. FinCEN registration is straightforward but state MTLs require surety bonds ($5,000 to $1 million+), capital requirements, audited financials, and detailed compliance documentation.
The typical timeline for a money services business licence in United States is 3–24 months. FinCEN registration takes days. State MTLs take 3 to 24 months per state.
The US is the world's largest financial services market. Despite the complexity, US licensing provides access to an enormous consumer and business market.
After receiving your money services business licence in United States, you must maintain ongoing compliance with regulatory requirements including safeguarding of customer funds, regular regulatory reporting, maintaining adequate capital, updating AML and compliance frameworks, and cooperating with supervisory reviews and inspections.
Most jurisdictions require local substance for a money services business licence. In United States, you will typically need a registered office, at least one locally resident director, and potentially additional operational staff. We can advise on the exact requirements and help you establish the minimum viable local presence.
A money services business licence in United States provides access to the domestic market. Federal + state licensing required. Separate authorisation may be required for other jurisdictions.