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
Where exactly in FinCEN’s MSB definition is the “infrequent use” exception defined? Jun 1, 2012 US Money Transmitter Licensing and MSB Registration Can Dwolla be used for cross-border transactions? Jun 1, 2012 Sending and Receiving Money Abroad If we formed a Delaware company as foreigners living outside the US, how can we open a US bank account? Jun 1, 2012 Opening Bank Accounts, Personal and Business What’s the single most important thing startup founders should do before executing their idea? Jun 1, 2012 Starting and Running a Fintech or Payments Business Where can developers connect with an active PayPal user and API community? May 12, 2012 Developer Tools, APIs, Sandboxes and Open Source Are traveler’s cheques still a viable payment or credit tool today? May 12, 2012 Credit, Debit and Prepaid Cards What types of fraud risks are associated with ACH transfers and wire transfers? May 12, 2012 Fraud and Scams How can someone obtain a US-issued credit card to use services like iTunes Match while living abroad? May 12, 2012 Credit, Debit and Prepaid Cards How are mobile payments likely to evolve over the next few years? May 10, 2012 Digital Wallets, Mobile Money and P2P Payments Is there an online solution for electronic letters of credit (LCs)? May 10, 2012 Trade Finance, Letters of Credit and B2B Payments How are mobile payments expected to change over the next several years? May 10, 2012 Digital Wallets, Mobile Money and P2P Payments Are there digital or online systems for issuing electronic letters of credit? May 10, 2012 Trade Finance, Letters of Credit and B2B Payments Money Transfers: Has Obopay been bought by AlertPay? May 7, 2012 Starting and Running a Fintech or Payments Business Payments, Cryptography, Digital Currency, Funds Transfers: Is the SWIFT messaging network still relevant in today’s hyper-connected, technology-driven world? May 7, 2012 International Wire Transfers and Large Transfers Has Obopay been acquired by AlertPay? May 7, 2012 Starting and Running a Fintech or Payments Business Is the SWIFT messaging network still relevant in today’s hyper-connected, tech-enabled world? May 7, 2012 International Wire Transfers and Large Transfers What does a US business need to accept non-US credit cards, technically and administratively? May 7, 2012 Merchant Accounts, Processors and Gateways How does credit card processing work, and what role do companies like Authorize.net play? May 7, 2012 Merchant Accounts, Processors and Gateways What technical and administrative steps must a U.S. business take to accept foreign credit cards? May 7, 2012 Merchant Accounts, Processors and Gateways How does credit card processing function, and what services do companies like Authorize.net provide? May 7, 2012 Merchant Accounts, Processors and Gateways What is the procedure for opening a bank account in the United States? May 1, 2012 Opening Bank Accounts, Personal and Business How can a small U.S. high-tech firm open a business banking account at a European bank? May 1, 2012 Opening Bank Accounts, Personal and Business How can someone open a UK business bank account without physically being in the country, but with a registered Ltd company? May 1, 2012 Opening Bank Accounts, Personal and Business What is the most economical method to transfer money from the U.S. to India? May 1, 2012 Sending and Receiving Money Abroad Is there any directory or listing of routing numbers for prepaid debit card-issuing banks that support direct deposit? May 1, 2012 Credit, Debit and Prepaid Cards What are the steps to open a bank account in the United States? May 1, 2012 Opening Bank Accounts, Personal and Business How can a small US-based tech company open a business account with a European bank? May 1, 2012 Opening Bank Accounts, Personal and Business How can someone open a UK business bank account without being physically present (for a registered Ltd)? May 1, 2012 Opening Bank Accounts, Personal and Business What’s the cheapest way to send money from the US to India? May 1, 2012 Sending and Receiving Money Abroad Is there a database or directory of routing numbers for prepaid debit cards that support direct deposit? May 1, 2012 Credit, Debit and Prepaid Cards What are cost-effective, reliable ways to receive online payments in Pakistan? Apr 10, 2012 Freelancers, Side Hustles and Getting Paid Online What are reliable and affordable ways to receive online payments in Pakistan? Apr 10, 2012 Freelancers, Side Hustles and Getting Paid Online Which companies handle online card processing in Scandinavian countries? Apr 9, 2012 Merchant Accounts, Processors and Gateways Does the primary recipient in PayPal chained payments qualify as a money services business? Apr 9, 2012 US Money Transmitter Licensing and MSB Registration Do white-labeled online payment providers in receiving countries also handle regulatory compliance in sending countries? Apr 9, 2012 Licensing Strategy, Sponsorship and Agent Models Which providers handle online card transactions in Scandinavian markets? Apr 9, 2012 Merchant Accounts, Processors and Gateways Does the main receiver in PayPal chained payments count as a money services business? Apr 9, 2012 US Money Transmitter Licensing and MSB Registration Do white-label payment providers in receiving countries also manage regulatory compliance in sending countries? Apr 9, 2012 Licensing Strategy, Sponsorship and Agent Models Where can businesses innovate or stand out in mobile commerce? Apr 9, 2012 Money Transfer Business and MTOs Would a lending or borrowing platform be classified as a money transmitter? Apr 8, 2012 US Money Transmitter Licensing and MSB Registration How do corporations transfer billions of dollars between each other? Apr 8, 2012 Trade Finance, Letters of Credit and B2B Payments Would a site enabling peer-to-peer lending/borrowing count as a money transmitter legally? Apr 8, 2012 US Money Transmitter Licensing and MSB Registration What’s the best Twitter strategy for responding to angry customers? Apr 8, 2012 Consumer Protection, Customer Rights and Customer Service How do corporations move billions of dollars safely between companies? Apr 8, 2012 Trade Finance, Letters of Credit and B2B Payments Why hasn’t Dwolla been incorporated into invoicing software or applications? Apr 3, 2012 Banking and Payments Technology Stack Why doesn’t Dwolla integrate directly with invoicing tools or accounting apps? Apr 3, 2012 Banking and Payments Technology Stack My question is, what legal rights do I have when presenting my cashier’s check to US Bank for cashing? Apr 2, 2012 Consumer Protection, Customer Rights and Customer Service What is the most effective method to accept credit card payments over the phone? Apr 2, 2012 Merchant Accounts, Processors and Gateways What is the most effective way to accept credit card payments over the phone? Apr 2, 2012 Merchant Accounts, Processors and Gateways What legal rights do I have if US Bank cashes my cashier’s check when I present it? Apr 2, 2012 Consumer Protection, Customer Rights and Customer Service