MSB licensing is the first step for your money service business to help your clients effectively complete their money transactions.
A money service business (MSB) is an individual or organization that conducts business as:
• A currency dealer or exchanger
• A check casher
• An issuer or seller of traveler´s checks, money orders, or other stored value.
Any MSB that transmits money inside the US or abroad, on behalf of another person or people is a Money Transmitter. If your business is paid to transfer money or monetary value and exceeds $1,000 in transfers on the same day and the transactions fall into the following categories:
• Check Cashing
• Currency Dealing or Exchange
• Money Transfer Services for (any amount)
• Traveler´s Checks
• Money Orders.
Money transmission operations are highly regulated on both state and federal levels. Money transmitters need both federal and state licenses.
$50K
Filing fee
$35K
Filing fee
Chat Directly With our CPA.
Send us yours questions.
Talk to our experts directly.
President
Thanks to FAS & CPA Consultants and Fulton Abraham Sanchez, CPA, I was able to resolve a debt of $479,677.71 that I had with the IRS.
Entrepreneur
My experience with FAS CPA & Consultants has been incredible, their professionalism is impeccable. I highly recommend them.
Manager
I highly recommend FAS CPA & Consultants, they are responsible, efficient and very dedicated.
Manager
9000 SW 137 Av Suite 224 Miami FL 33186
Accounting Firm providing Accounting & Bookkeeping, Tax Planning and Offshore Strategies to grow your business and protect your assets.
Subscribe and get the latest tax news!
FAS CPA & Consultants Copyright © 2022. All rights reserved.
Feedback
Wait a moment
Oops! Something went wrong!
Fulton is a wonderful CPA who fully understands tax law and provides honest advice for his clients.