TEXAS MONEY TRANSMISSION LICENSE ATTORNEY
We also provide California Money Transmitter License services.
Code, Chapter 151 (Chapter 151), generally requires a person or business to have a license to engage in the money services
business in Texas. There are two types of Money Services Business licenses and separate applications for each type. A person
or business that engages in the money transmission business must have a money transmission license. Money transmission includes
1) issuing or selling prepaid access cards and instruments such as checks, money orders and traveler’s checks; 2)
receiving money for transmission; 3) providing third-party bill paying services; 4) transporting currency; or 5) currency
Department regulates money services businesses under Chapter 151 of the Texas Finance Code and the title of this regulation
is the Money Services Act. In addition, Chapter 33 (formerly Chapters 4 and 29) of the Texas Administrative Code is also
applicable to MSBs regulated by the Department.
To engage solely in currency exchange, you must obtain a Currency Exchange License. To engage in
any of the other money services activities regulated by the Banking Department, including currency exchange, you must obtain
a Money Transmission License.
The Department regulates the following money services activities conducted by “money services businesses”
or “MSBs”, if they are being offered in Texas (regardless of whether the business has a physical presence in
- Money Transmission (includes “in-person” and
- Currency Transportation
- Money Orders
- Travelers Checks
- Third-Party Bill Paying
Cards (in open systems)
- Stored Value Products (not issued
by insured financial institutions).
Some of the services we provide are:
- Assistance in obtaining a money transmitter license from the Texas Department of Banking.
- Advice about laws and regulations that govern money transmission
- Representation of acquisition of control applicants.
- Legal opinions concerning whether or not a money transmitter license is required for
certain business models.
- Assistance with FinCEN‘s MSB registration and filing of required reports.
- Corporation or LLC formation and drafting of organizational and corporate documents.
- Drafting or revising of money transmission industry agreements,
documents, disclosures, AML/BSA policies, OFAC policies, and other required regulatory legal documents.
- Mergers and acquisitions of money transmission businesses.
- Legal compliance and licensing for Bitcoin and virtual currency businesses.
- Assistance with legal issues concerning securities law compliance for
money transmitters raising capital from investors.
in obtaining money transmitter licenses in all 50 states of the USA.