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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Nov 11, 2012 International Wire Transfers and Large Transfers How quickly do check-scanning OCR machines process documents? Nov 11, 2012 Banking and Payments Technology Stack How can a company start selling SaaS products internationally? Nov 11, 2012 US Money Transmitter Licensing and MSB Registration What SaaS products are best for online security and fraud prevention? Nov 11, 2012 Banking and Payments Technology Stack Does Airbnb require specific licenses to provide escrow services between transacting parties? Nov 11, 2012 US Money Transmitter Licensing and MSB Registration How can I accept online payments directly from bank accounts in a developing country without major card networks? Nov 11, 2012 Domestic Payment Rails, National Switches and Clearing Systems How much cash is generally sitting inside ATMs at any given time? Nov 9, 2012 How Banks Work How does Xoom transfer funds from a U.S. credit card to a Mexican bank account? 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Nov 6, 2012 Personal and Consumer Finance, Budgeting and Saving How can I obtain a $400 refund from PayPal for an item that never arrived? Nov 5, 2012 Digital Wallets, Mobile Money and P2P Payments Do wire transfers always incur a fee? Nov 4, 2012 Payment Operations, Pricing and Fees When PayPal verifies a bank account using ACH deposits and withdrawals, can they also view the account’s balance? Nov 3, 2012 Domestic Payment Rails, National Switches and Clearing Systems How long does it typically take for a payment processor or aggregator to settle funds into my account? Nov 2, 2012 Merchant Accounts, Processors and Gateways Why do some businesses still use old-fashioned carbon-copy credit card imprinters instead of modern processing methods? Nov 2, 2012 Merchant Accounts, Processors and Gateways Why is American Express the only card issuer that prints the CSC code on the front? Nov 2, 2012 Credit, Debit and Prepaid Cards Is it normal for bank drafts to be held for a full week? 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Oct 11, 2012 Developer Tools, APIs, Sandboxes and Open Source Which mobile apps are considered the best for sending money internationally? Oct 11, 2012 Sending and Receiving Money Abroad Why isn’t a Dwolla-style bank transfer system available in the UK? Oct 11, 2012 Domestic Payment Rails, National Switches and Clearing Systems What mobile payment systems work best for e-commerce in countries with low card usage? Oct 11, 2012 Digital Wallets, Mobile Money and P2P Payments How would you approach creating an online payment processing company that operates internationally? Oct 10, 2012 Starting and Running a Fintech or Payments Business I’ve become interested in global economics—what should I read to deepen my understanding? Oct 10, 2012 Economics, Inflation and Monetary Policy What could be a strong USP for a new US-to-India online money transfer service? Oct 9, 2012 Money Transfer Business and MTOs