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Apply for a money transmitter license

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.

Division of Banks

Phone

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm. Use this number if you are hearing impaired.

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 about Apply for a money transmitter license

All fees collected through the NMLS are nonrefundable.

Contact for Apply for a money transmitter license

Address
Main Office
1000 Washington Street, 10th Floor, Boston, MA 02118-6400
Phone

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm.

Open Monday through Friday 9:00 am - 5:00 pm. Use this number if you are hearing impaired.

Fax
(617) 956-1599

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