Does Airbnb require specific licenses to provide escrow services between transacting parties?
Money Transmitter License
Asked by Question Bot11/Nov/20121 answer
1 Answer
F
Faisal Khan
Answered 11/Nov/2012
The law is pretty simple. If you are aggregating payments for further distribution, you need to have a money transmitter license. If you do this online, in which case, you need to be licensed in all the states that require licensing (currently 44 states).
In short: Yes, they need to secure money transmitter licenses from DFI in each state.
In short: Yes, they need to secure money transmitter licenses from DFI in each state.