What is the process for obtaining a money transmitter license in the US?

You can obtain a money transmitter license in the US from each of the US states in which you wish to work. For example, if you plan on signing up businesses or individuals as customers from Florida, you would need a license in Florida. The same would hold true if you were signing up businesses or individuals as customers from, say, Texas or Illinois. You must apply for a money transmitter license from the state regulator (see a complete list of US State Regulators here).

Here is a summary table of the US Money Transmitter Licensing Program, that highlights the various options you can exercise when it comes to MTLs in the US.

A comprehensive table of US Money Transmitter License Cost can be seen here; in addition, it also provides information on the costs associated are for a Money Transmitter License Application.

It is important to note, there is no ‘federal’ money transmitter license. Folks often confuse that merely registering with FinCEN does not equal a grant of a money transmitter license.