Can a money-transfer startup partner with a bank, and how does that typically work?

Asked May 10, 2015· 1 answer ·United States
Faisal KhanAnswered May 10, 2015
There are many ways to get started in the Money Transfer business, and it all depends where in the world you are.

From a US perspective, I always cite the following approach for someone dipping their toes into the world of money transfer:

Start by becoming an ISO and see if your bank offers one for money transmission. If not, ask around and see if a licensed MTO is willing to sign you up as an ISO.
Money Transfer Operators (MTO)Starting a Remittance BusinessDigital MTOsMoney Transfer-as-a-Service (MTaaS) United States
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