Faisal KhanAnswered Jun 6, 2020This comes under the Agent of Payee exemption and as such, IIRC only 12 or 13 US States recognize this exemption.
Other States don’t provide an exemption, so you need a money transmitter licenses for those states.
If I receive money in the US on behalf of someone else to make an online purchase for them (they live outside the US), am I considered a money transmitter?
Faisal KhanAnswered Jun 6, 2020What type of license is required if acting as an intermediary in an FX transaction between two parties?1 ansDo we need to be licensed in any capacity, such as a money transmitter?1 ansIs a money transmitter license required for the operation of closed-loop cards in the United States?1 ansCan we work under a Trust’s Money Transmitter License?1 ans