You would need to have been operating for over 3 years with excellent audit recommendations to even be considered for an Agent status application with a US bank. Without three years of audit, no US bank will be providing you sponsorship services under an Agent agreement.
We have established a money transfer company in Canada and now we are looking for a bank in the US and want to be its Authorized Delegate in the USA for money transfer services.
What is the difference between an agent and non-agent of an EMI in Europe/UK?1 ansAs a sponsored party which parties do we share our customers’ KYC information with, if any?1 ansCan a fintech startup legally rent a money transmitter license?1 ansWhat is the difference between white-label sponsorship and being an agent of a money transfer company?1 ans