Faisal Khan
Answers by

Faisal Khan

Cross-border payments, banking access, licensing. Thirty-one years inside regulated money movement.

Founder, Faisal Khan LLC·Istanbul, working globally
3,061Questions answered
31+Years in payments
400+Companies served
72+Countries
About

Every answer on askmint is mine. I have spent more than thirty-one years in financial services, almost all of it on one problem: how money legally crosses a border, and what a regulator needs to see before it will.

My career began in technology, not banking. I moved into banking and payments, and then into cross-border payments. That is where I saw how badly companies get caught by the rules across many countries. Not because the rules are impossible, but because the wrong structure was chosen before anyone understood the flow of funds.

Since starting the consultancy in 2010, I have worked with more than four hundred companies across seventy-two countries, from early-stage startups to established financial institutions. The work is helping them obtain licences, secure banking relationships, and build compliance frameworks that hold up under examination.

Today it is mostly licensing strategy, MSB banking access and cross-border payment structures, alongside writing, speaking and the educational sites that sit around the practice. This site is one of them.

Every call I take, I take myself. Twelve thousand of them so far.

Where I work

Licensing and compliance

Money transmitter licences, payment institution registration and compliance programmes across many countries. More than fifty licence applications done.

Banking relationships

Getting and keeping bank accounts for high-risk and regulated businesses. The part most operators underestimate.

Cross-border payments

Payment corridors, settlement design, FX risk and the licensing that sits underneath international money movement.

What I am not
  • A bank, money transmitter or money services business
  • A law firm. Nothing here is legal advice
  • In the flow of funds. I never hold client money

Answers

3,061 answers · newest first
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Aug 9, 2016 Merchant Accounts, Processors and Gateways Between PayPal and Visa/Mastercard, which is more likely to remain dominant long-term? Aug 9, 2016 Payments (General) How can I check the status of a Western Union money order? Aug 8, 2016 Sending and Receiving Money Abroad How can someone receive money online from PayPal-based companies if PayPal is not supported in their country? Aug 8, 2016 Freelancers, Side Hustles and Getting Paid Online How do Western Union agents deposit customer cash into Western Union’s banking system? Aug 8, 2016 Money Transfer Business and MTOs Do gift card companies need a FinCEN money transmitter license for reloadable cards funded with cash? Aug 7, 2016 US Money Transmitter Licensing and MSB Registration What is the best online payment method to pay a U.S. company’s Russian employee? Aug 7, 2016 Sending and Receiving Money Abroad Can a bank avoid liability if a bank executive commits a scam in the bank’s name? 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Aug 3, 2016 Blockchain and Distributed Ledger Technology What solutions let online customers pay using their online banking login instead of routing and account numbers? Aug 3, 2016 Domestic Payment Rails, National Switches and Clearing Systems What are some simple ways to earn money? Aug 1, 2016 Freelancers, Side Hustles and Getting Paid Online What is an outward remittance? Aug 1, 2016 Sending and Receiving Money Abroad When a credit card company says it “processes” a transaction, what does that include, and does it involve fraud or legitimacy checks? Aug 1, 2016 Card Networks and Card Issuing Which currency banknote is considered the most beautiful? Aug 1, 2016 General Finance Questions Why do banks and payment services sometimes ask users to enter the same details twice? Jul 12, 2016 Payments (General) What would be a good name for a bank’s fraud and risk management team? 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Jul 12, 2016 Credit, Debit and Prepaid Cards How does someone obtain a debit card? Jul 9, 2016 Credit, Debit and Prepaid Cards What does it practically take to start a money transfer business? Jul 9, 2016 Money Transfer Business and MTOs How realistic was same-day ACH becoming widespread in 2016? Jul 9, 2016 Domestic Payment Rails, National Switches and Clearing Systems How can funds be withdrawn from a very old or dormant bank account? Jul 9, 2016 How Banks Work Is Stellar likely to become mainstream, and why or why not? Jul 7, 2016 Blockchain and Distributed Ledger Technology Why is there so much buzz around Bitcoin? Jul 7, 2016 Bitcoin and Cryptocurrency Basics If I want to launch a Bitcoin startup in Pakistan, what do I need to understand first? Jul 7, 2016 Crypto and VASP Licensing How long does it usually take to receive a Payoneer card in Pakistan? Jul 7, 2016 Freelancers, Side Hustles and Getting Paid Online Are there startups actively trying to disrupt the traditional banking industry? Jul 6, 2016 Fintech, BaaS and Embedded Finance If an ACH debit fails but the funds were already credited to the destination bank, what should be done? Jul 6, 2016 Domestic Payment Rails, National Switches and Clearing Systems Why do business bank accounts usually not earn interest on deposits? Jul 6, 2016 How Banks Work Why do some people believe that Bitcoin is illegal? Jul 5, 2016 Regulators, Enforcement and Regulatory Change How do people in Pakistan typically receive remittance payments? Jul 5, 2016 Sending and Receiving Money Abroad Where is the European Central Bank headquartered, and why was that location chosen? Jul 5, 2016 Central Banks and Bank Supervision Is Bitcoin considered a fiat currency, and what backs it, if anything? What exactly happens when a new bitcoin is mined? Jul 5, 2016 Bitcoin and Cryptocurrency Basics