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Breaking Down the Money Transmitter Licensing Process

Breaking Down the Money Transmitter Licensing Process

Posted on: April 14th, 2025

Obtaining a money transmitter license (MTL) in the United States is a multifaceted process that requires adherence to federal and state regulations. These licenses are essential for businesses that transfer funds or facilitate financial transactions on behalf of others, including electronic money transmission, currency exchange, and handling digital assets such as cryptocurrencies.  The licensing process […]

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Ask The Experts – Do I Need To Run ALL Checks Through My Check Cashing System?

Ask The Experts – Do I Need To Run ALL Checks Through My Check Cashing System?

Posted on: April 6th, 2022

YES, every check needs to be run through your check cashing system. It is important to know your customer (KYC), adhere to the Bank Secrecy Act (BSA) compliance rules, and mitigate your loss and risk.  Auditors/regulators require Money Services Businesses (MSBs) to have check cashing software, like Paycheck Secure, in order to comply with BSA […]

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