Faisal KhanAnswered Apr 7, 2015If you will be holding on to the funds in any manner (i.e. even a short time) and then disbursing the funds out, then Yes! (from a US perspective).
If we charge customers’ credit cards worldwide and then wire funds to other users (minus a service fee) like Airbnb, do we need money-transfer licenses (MSB/MST) in the U.S. or Europe?
Faisal KhanAnswered Apr 7, 2015If you're a billing aggregator and you're simply providing billing information but not handling the payments, are you considered a money services business?1 ansIs wiring money illegal under any circumstances?1 ansIf a money services business is exempt from state money transmitter licensing, is FinCEN registration alone sufficient, or do they still need state licenses?1 ansAre payroll service providers considered money transmitters/MSBs—and if not, why not?1 ans