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A step-by-step guide to getting a money transmitter license in California

Todd Bryant | August 29, 2017

Are you thinking of starting a money transmitter business in California? Financial professionals in the state who want to conduct such activities need to get a California money transmitter license, so that they can operate legally.

Even if you’re not planning to open your operations in California, it’s worth exploring the rules that govern the industry in the state. A number of other states have similar procedures or may adopt such in relation to virtual currency regulation and similar new fields.

The licensing ensures transmitters are qualified to execute their tasks in the best interest of their clients. As a part of the process, applicants need to meet a number of criteria, including to comply with the money transmitter bond requirement.

Let’s look at the steps you need to undergo, so that you obtain your money transmitter license in California with ease.

Get acquainted with the California money transmitter license requirements. The...

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