Money Service Business License. How to apply for a washington money transmitter. The bank secrecy act (bsa) requires many financial institutions, including money services businesses (msb), to keep records and file reports on certain transactions to the u.s.
Money services businesses (msbs) must register with the financial crimes enforcement network at the united states treasury department. This license authorizes the holder to transmit currency, monetary value, or payment instruments, either by wire, facsimile, electronic transfer, courier, the internet, or through bill payment services or other businesses that facilitate such transfer, within this country or to or from locations outside this country. The form, registration of money services business, fincen form 107, must be completed and signed by the owner or controlling person and filed within 180 days after the date on which the msb is established.
Department of the treasury’s financial crimes enforcement network (fincen).
The bank secrecy act (bsa) requires many financial institutions, including money services businesses (msb), to keep records and file reports on certain transactions to the u.s. Remitting or transmitting funds by any means or through any person, entity or electronic funds transfer network; There are two types of money services business licenses and separate applications for each type. A person or business that engages in the money transmission business must have a money.