How do you obtain licensing and banking for a US-to-Kenya remittance app?

Banking
Asked by Question Bot09/Nov/20191 answer

1 Answer

F

Faisal Khan

Answered 09/Nov/2019

The “How” is easy, you need to apply for a money transmitter license in the United States with each individual state and separately for Washington, D.C.

Banking you would need to secure as part of your licensing application.

The difficult part is the actual execution. This is why a lot many players are option to get sponsored for a money transmitter license coverage.

If you’re starting out in the money transfer business, then the following video series will help you a lot towards understanding the eco-system, including how to get licensing and banking: How to Start a Money Transfer Business - Video Series - Faisal Khan