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
Which are the largest privately held companies globally? Oct 9, 2012 General Finance Questions Has the U.S. government ever acquired private companies? Oct 9, 2012 General Finance Questions What are the steps to launch a commercial bank? Oct 9, 2012 Central Banks and Bank Supervision What are the basic steps involved in starting a commercial bank? Oct 9, 2012 Central Banks and Bank Supervision What are the top resources for learning about India’s online and mobile payments industry? Oct 8, 2012 Learning and Certifications: Guides, Calculators, Quizzes and Courses What is the most cost-effective way to make recurring international transfers of large amounts? Oct 8, 2012 International Wire Transfers and Large Transfers How can you add an email signature that’s professional but not pretentious? Oct 8, 2012 General Finance Questions What’s the most affordable way to send large recurring international transfers? Oct 8, 2012 Sending and Receiving Money Abroad Are there tax implications when transferring funds internationally using card payments between offices? Oct 7, 2012 Tax and Financial Reporting Are there tax implications when transferring money internationally via credit or debit card? Oct 7, 2012 Tax and Financial Reporting What are examples of well-known non-monetary forms of currency? Oct 4, 2012 Bitcoin and Cryptocurrency Basics Which U.S. laws forbid producing or circulating counterfeit foreign currency? Oct 4, 2012 Law, Contracts, Terms of Service and Legal Structures Is sending money from the United States to Iran legally permitted? Oct 4, 2012 Sanctions, Embargoes and Screening What expenses does a bank incur when processing wire transfers? Oct 4, 2012 Payment Operations, Pricing and Fees What steps are required to build a new payment gateway? Oct 4, 2012 Merchant Accounts, Processors and Gateways Money Transfers: Which startups offer remittance services from the US/UK to India? Oct 2, 2012 Money Transfer Business and MTOs When a reimbursement form asks for my bank’s address, which one should I provide if I use Bank of America? Sep 12, 2012 How Banks Work How difficult is it to start an ATM business in an emerging market with limited ATM availability, and what risks should be anticipated? Sep 12, 2012 Starting and Running a Fintech or Payments Business How much time does Wells Fargo require to move funds between two different accounts? Sep 12, 2012 Domestic Payment Rails, National Switches and Clearing Systems Can a non-Indian citizen invest in a fixed deposit at an Indian bank? Sep 12, 2012 Opening Bank Accounts, Personal and Business Why does the RBI enforce strict rules that restrict Indians from making specific types of PayPal payments? Sep 12, 2012 Sending and Receiving Money Abroad What are the best practices for notifying a merchant that a payment has been completed? Sep 12, 2012 Merchant Accounts, Processors and Gateways What’s the best way to learn the mobile payments landscape? Sep 12, 2012 Learning and Certifications: Guides, Calculators, Quizzes and Courses What is the best way to learn and stay updated about the mobile payments ecosystem? Sep 12, 2012 Learning and Certifications: Guides, Calculators, Quizzes and Courses What is a merchant aggregator or payments aggregator? Sep 11, 2012 Merchant Accounts, Processors and Gateways What new or growing niches are appearing in the credit card processing sector? Sep 11, 2012 Card Networks and Card Issuing Can I send money from the U.S. to Russia using PayPal or a similar service? Sep 10, 2012 Sending and Receiving Money Abroad What are good options for a U.S. startup with low volume and ticket size to accept online payments? Sep 10, 2012 Merchant Accounts, Processors and Gateways What are notable success stories of SaaS customer support? Sep 10, 2012 Business Strategy, Case Studies and Lessons Learned How can I start selling SaaS products outside the U.S.? Sep 10, 2012 Business Strategy, Case Studies and Lessons Learned What are the top SaaS products for security? Sep 10, 2012 Cybersecurity, Digital Identity and Authentication Is it better to operate abroad as a local entity or as a U.S.-registered company? Sep 10, 2012 Law, Contracts, Terms of Service and Legal Structures Which banks are well-suited for international e-commerce businesses? Sep 10, 2012 Merchant Accounts, Processors and Gateways Is it possible to send money from the US to Russia using PayPal or similar services? Sep 10, 2012 Sending and Receiving Money Abroad What payment solutions work best for low-volume, low-value startups in the United States? Sep 10, 2012 Merchant Accounts, Processors and Gateways Which payment processors support outbound money transfers? Sep 9, 2012 Merchant Accounts, Processors and Gateways Which payment processors support outbound or mass payouts? Sep 9, 2012 Merchant Accounts, Processors and Gateways What is the smoothest and least expensive way to issue ACH payments for an online marketplace? Sep 8, 2012 E-Commerce, Marketplace and Platform Payments What are the cheapest available methods for international money transfers? Sep 8, 2012 Sending and Receiving Money Abroad How many MoneyGram agents operate in the US, Mexico, and worldwide? Sep 8, 2012 Money Transfer Business and MTOs What does the regulatory landscape look like for mobile payments? Sep 8, 2012 Licensing Strategy, Sponsorship and Agent Models How large is the global international money transfer market? Sep 8, 2012 Money Transfer Business and MTOs What are the lowest-cost methods for transferring money internationally? Sep 8, 2012 Sending and Receiving Money Abroad How many agents does MoneyGram operate in the U.S., Mexico, and worldwide? Sep 8, 2012 Money Transfer Business and MTOs What regulations govern mobile payment systems? Sep 8, 2012 Licensing Strategy, Sponsorship and Agent Models What’s the size of the global money transfer market? Sep 8, 2012 Money Transfer Business and MTOs If you had $1M for a business (no storefront allowed), what would you launch? Sep 8, 2012 Business Strategy, Case Studies and Lessons Learned What would need to change for retail banks to begin processing electronic transactions on weekends and public holidays? Sep 7, 2012 Central Banks and Bank Supervision As an Indian tech-support startup, how can we integrate directly with payment gateways without relying on third-party processors? Sep 7, 2012 Merchant Accounts, Processors and Gateways What is the smoothest method for switching banks when you have numerous automatic payments tied to your old account? Sep 7, 2012 Personal and Consumer Finance, Budgeting and Saving