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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May 10, 2014 Sending and Receiving Money Abroad In 2014, what was the biggest unsolved challenge facing the banking industry? May 9, 2014 General Finance Questions How do banks determine the locations for installing ATMs? May 8, 2014 How Banks Work What is a good investment strategy for a 22-year-old in India? May 8, 2014 Personal and Consumer Finance, Budgeting and Saving What is the best approach to adding Bitcoin as a payment method for recurring subscriptions on my website? May 8, 2014 Crypto Payments, On-Ramps and Off-Ramps Online Payments: What challenges would a Square-like startup face in Asia? May 8, 2014 Starting and Running a Fintech or Payments Business What systems do companies use to automatically deduct monthly loan payments from customer bank accounts? May 7, 2014 Domestic Payment Rails, National Switches and Clearing Systems Online Payments: What banking solutions support peer-to-peer and peer-to-business lending startups? 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May 6, 2014 Freelancers, Side Hustles and Getting Paid Online What electronic payment options are available for businesses in Canada? May 6, 2014 Domestic Payment Rails, National Switches and Clearing Systems Which countries accept M-PESA or similar mobile money systems? May 5, 2014 Digital Wallets, Mobile Money and P2P Payments As a merchant, are there extra fees—beyond standard merchant service fees—when accepting internationally-issued credit or debit cards at POS? And what about online transactions? May 5, 2014 Merchant Accounts, Processors and Gateways How much capital is required to start a bank? May 5, 2014 Starting and Running a Fintech or Payments Business What does Islamic banking involve, and what ethical, legal, or religious considerations are associated with it? May 5, 2014 Islamic, Jewish and Faith-Based Finance In which countries is M-PESA (or similar systems) accepted? May 5, 2014 Digital Wallets, Mobile Money and P2P Payments As a merchant, do I pay extra fees (beyond standard merchant fees) when accepting international scheme cards at POS or online? May 5, 2014 Merchant Accounts, Processors and Gateways How much capital is typically needed to start a bank? May 5, 2014 Starting and Running a Fintech or Payments Business What is Islamic banking, and what ethical, legal, and religious principles shape it? May 5, 2014 Islamic, Jewish and Faith-Based Finance As of May 2014, how many people owned at least some Bitcoin? May 4, 2014 Bitcoin and Cryptocurrency Basics Does Ripple have the ability to cut off a merchant it disapproves of? May 4, 2014 Blockchain and Distributed Ledger Technology Which Pakistani tech companies are building their own products rather than only doing services? May 4, 2014 Banking and Payments Technology Stack Can Dwolla send payouts to bank accounts located outside the United States? May 4, 2014 Sending and Receiving Money Abroad Are there alternatives to SWIFT for international bank transfers, especially for sanctioned countries? May 2, 2014 Sanctions, Embargoes and Screening What occurs when a card placed on authorization hold gets cancelled? May 1, 2014 Credit, Debit and Prepaid Cards Where can I find data on how widely local payment methods are used in ecommerce? May 1, 2014 E-Commerce, Marketplace and Platform Payments How worried are Venmo’s investors about the company not being licensed as a money transmitter in every U.S. state? Apr 12, 2014 US Money Transmitter Licensing and MSB Registration What happens to a Western Union transfer if I lose my identification before picking it up? Apr 12, 2014 Sending and Receiving Money Abroad Can multiple cryptocurrencies achieve broad adoption at the same time? Apr 12, 2014 Bitcoin and Cryptocurrency Basics Is there a dependable method for identifying fees within a bank statement? Apr 11, 2014 How Banks Work What steps are involved in opening a Swiss bank account? Apr 11, 2014 Opening Bank Accounts, Personal and Business Is there anything you can do early on to avoid PayPal freezing or limiting your account without cause? Apr 11, 2014 Digital Wallets, Mobile Money and P2P Payments When you reach a checkout page, what factors influence your decision to complete the purchase? Apr 11, 2014 E-Commerce, Marketplace and Platform Payments Why hasn’t Shopify added Bitcoin as a supported payment method? Apr 11, 2014 Crypto Payments, On-Ramps and Off-Ramps In what types of locations would people most like to see Bitcoin ATMs installed? Apr 11, 2014 Crypto Payments, On-Ramps and Off-Ramps What are the main issues and current trends in international payment systems? Apr 11, 2014 Payments (General) What do you think the future of payments will look like—will it run on the Ripple protocol or on upgraded versions of existing systems from the 1970s? Apr 11, 2014 Blockchain and Distributed Ledger Technology If we build a P2P money-transfer app and operate as an agent under a licensed provider like PreCash, what is a rough cost estimate? Apr 11, 2014 Licensing Strategy, Sponsorship and Agent Models Demographics: What is the typical average income in developed nations? Apr 10, 2014 General Finance Questions