Money Transmitter License Rental – Is it a Good Idea?

Have money transmitter license rental services been offered to your business? Remember that renting a license is never a good idea.

For startups and payment companies in the money transfer business, it is essential to get licensed in the countries and US states they wish to work in to comply with regulations. However, due to the high cost of licensing and the various complicated procedures involved in this task, many companies had started to opt for paying a rental fee to licensed money transfer companies in order to use their coverage.

This is not only a method that could incur you large fines but is also a sure way of getting your business blacklisted forever. Money transmitter license rental services are a scam and you should not fall for them. This video goes into a deeper explanation of this and how you can get licensed or your business.