Anyone who takes part in receiving deposits from Massachusetts consumers and transmitting the money to foreign countries needs a license from the Division of Banks (DOB). Anyone who sells or issues checks or money orders must be registered.
- This page, Apply for a money transmitter license, is offered by
- Division of Banks
Apply for a money transmitter license
Contacts
Division of Banks
Phone
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm. Use this number if you are hearing impaired.
Online
Contact us
Contact detail by unit or inquiry
Press Contact (Media Inquiries Only)
Email Division of Banks at ocabr.communications@mass.gov
The Details of Apply for a money transmitter license
What you need for Apply for a money transmitter license
The DOB recommends reviewing all applicable laws, regulations, and regulatory bulletins regarding money transmitters before submitting an application.
All of the fees below are applicable for both foreign transmittal agencies and check sellers.
Fees for Apply for a money transmitter license
| Name | Fee | Unit |
|---|---|---|
| License fee | $1,000 | per license |
| Investigation fee | $300 | per license |
| Credit report fee | $15 | per control person(s) |
| FBI criminal background check | $36.25 | per owner(s) or control person(s) |
How to apply Apply for a money transmitter license
All foreign money transmitter license applications are submitted online using NMLS. Any supporting documents should be mailed to the DOB.
If you are associated with a company, it is important to check in with your company before creating or completing a record in NMLS.
Paper license applications are no longer accepted.
Mail supporting documents to the DOB:
Massachusetts Division of Banks
Loan Originator Licensing
1000 Washington Street, 10th Floor
Boston, MA 02118
Next steps for Apply for a money transmitter license
To apply for a foreign transmittal agent/branch license
To apply for a foreign transmittal agent/branch license, companies must submit paper applications directly to the DOB. Agent/branch licenses are not on NMLS.
More info for Apply for a money transmitter license
All fees collected through the NMLS are nonrefundable.
Contact for Apply for a money transmitter license
Address
Phone
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm.
Open Monday through Friday 9:00 am - 4:00 pm. Use this number if you are hearing impaired.
Online
Contact us
Contact detail by unit or inquiry
Press Contact (Media Inquiries Only)
Email Division of Banks at ocabr.communications@mass.gov
Fax
(617) 956-1599