FinCEN MSB registration
We confirm your federal money-services-business registration is current, the baseline that lets a sponsor bank even consider the relationship.
Specialized, consult-first
Payment Processing for Money Services Businesses (MSBs)
We board registered money services businesses on dedicated, bank-sponsored merchant accounts, published rates from around 4.0%, with BSA/AML-aligned underwriting, FinCEN-registration and licensing review, and sponsor concurrence. MSBs are declined by mainstream processors; we underwrite that risk deliberately so a compliant, well-documented MSB can actually get processing.
- BSA/AML-aligned underwriting
- Sponsor-bank concurrence
- Published from 4.0%
Answer first
A category most banks would rather not touch
Money services businesses occupy a strange position: they operate entirely within the law, they’re registered with FinCEN, and yet they’re among the hardest businesses in the country to get banked or boarded. The reason is structural. An MSB is in the business of moving money, and moving money is precisely where money-laundering risk lives, which means the category draws regulatory attention that most banks would rather avoid entirely. So they de-risk, they decline the whole category rather than build the compliance muscle to serve it, and a perfectly lawful check casher or money transmitter ends up locked out of the processing it needs to run.
We take the opposite approach. Boarding an MSB isn’t a matter of waving the category through; it’s a matter of underwriting the BSA/AML risk properly and getting our sponsor bank’s concurrence on the relationship. That’s more work than an instant signup, and it’s the point, the diligence is what makes the account stable instead of a freeze waiting to happen. This is a consultation-led path because there’s no honest way to price or approve an MSB without first understanding the activity, the licensing, and the compliance program behind it.
What we review
Your compliance program is the heart of the file
State money-transmitter licensing
We review the state licenses required for the states you actually serve; transmission, check cashing and currency services each carry their own footprint.
BSA/AML program
KYC and customer identification, transaction monitoring, SAR and CTR filing procedures, and a designated compliance officer who owns it.
The specific activity
We underwrite the model rather than treating ‘MSB’ as one thing, some sub-categories sit closer to the regulatory line than others.
Important
MSBs are a sponsor-concurrence, consult-first category
Because money services sit at the center of money-laundering scrutiny, every MSB is reviewed against its BSA/AML program and licensing, and our sponsor bank must concur on the relationship before boarding. That means substantial documentation and a longer timeline than a standard account, and pricing set during the consultation rather than from a flat band. It's not a reflex no; a registered, well-run MSB can be boarded. See how our underwriting works.
Compliance
What underwriting reviews, and why it earns better terms
The review here is substantial, and your compliance program is the heart of it. We look at your FinCEN MSB registration and confirm it’s current; your state money-transmitter licensing for the states you actually serve; and your BSA/AML program in detail, customer identification and KYC, transaction monitoring, your SAR and CTR filing procedures, and whether you have a designated compliance officer who owns it. None of that is bureaucratic theater. It’s what lets a sponsor bank get comfortable taking on the relationship, and it’s what keeps the account from becoming a problem six months in. A well-documented program doesn’t just clear the review faster; it earns better terms.
The activity itself matters too. Money transmission, check cashing, and currency-related services carry different licensing and risk profiles, and some sub-categories sit closer to the regulatory line than others. We underwrite the specific model rather than treating ‘MSB’ as one thing, so the consultation is where we establish exactly which of your activities are boardable.
Rates & reserves
A published starting point, finalized in consultation
| Effective rate | Reserve | Settlement | |
|---|---|---|---|
| Registered MSB | From ~4.0% + interchange | Set by underwriting, case by case | Set by underwriting after consultation |
Given the BSA/AML review and the sponsor-concurrence step, your rate and any reserve are established individually during the consultation, based on your activity, volume, licensing footprint, and the strength of your compliance program. You'll see the terms before you commit. See full pricing →
How it works
Underwritten and concurred before boarding
1
Request a consultation
We talk through your activity, licensing footprint, and BSA/AML program so we can tell you plainly what we can board.
2
Compliance review
Underwriting confirms FinCEN registration, state money-transmitter licensing, and your full AML program in detail.
3
Sponsor concurrence
Our sponsor bank reviews and concurs on the relationship, the step that makes a restricted category like this boardable and stable.
4
You go live
We connect your gateway and processing with your rate and any reserve set out in writing before you commit.
A written decision
You see exactly where your file stands
No black-box ‘no.’ Underwriting tracks every requirement to completion and issues a written memo: why you were approved, your rate, and any reserve, visible before you go live.
- Onboarding checklist tracked to 100%
- Rate and any reserve set out in writing
- BSA/AML program and licensing reviewed up front
FAQ
MSB processing FAQ
Can an MSB get a merchant account?
Yes, a registered money services business can be boarded, but on a dedicated account through a sponsor bank that knowingly accepts MSB risk, not on a mainstream aggregator. The qualifier is real compliance: FinCEN registration, state money-transmitter licensing where it applies, and a working BSA/AML program. Mainstream processors decline MSBs because the category sits at the center of money-laundering scrutiny; a specialist underwrites that scrutiny rather than avoiding it. Because the review is substantial and sponsor concurrence is required, this is a consultation-led process.
What compliance do MSBs need to process payments?
At minimum, current FinCEN MSB registration, any required state money-transmitter licenses for the states you serve, and a documented BSA/AML program, customer identification (KYC), transaction monitoring, SAR/CTR filing procedures, and a designated compliance officer. Underwriting reviews those before boarding because they are what let our sponsor bank get comfortable with the relationship. The stronger and better-documented your program, the smoother the review.
Why do banks and processors decline MSBs?
Because money services businesses are, by definition, in the business of moving money, which is exactly where money-laundering risk concentrates, and which regulators watch closely. Many banks de-risk the whole category rather than build the compliance capacity to bank it. That's why a registered, well-run MSB can still struggle to find processing despite operating lawfully. A processor that boards MSBs has chosen to underwrite the BSA/AML risk deliberately instead of declining on reflex.
What types of money services businesses do you board?
Registered MSBs whose model and compliance posture we can underwrite, and the specific activity matters. Money transmission, check cashing, and currency-related services each carry their own licensing and risk profile, and some sub-categories sit closer to the line than others. The consultation establishes which of your activities are boardable, against your licensing and your BSA/AML program, rather than a blanket yes or no on 'MSB.'
How much does MSB payment processing cost?
Our published starting point for money services businesses is around 4.0%, set individually by underwriting based on your activity, volume, licensing footprint, and the strength of your compliance program, with reserves established case by case. Given the BSA/AML review and the sponsor-concurrence step, pricing is set during the consultation rather than from a flat band. You'll see the terms before you commit.
Related
Keep exploring
Underwrite my MSB, don't decline the category.
If you operate a registered, compliant MSB and need a processor that will underwrite your risk instead of declining the category outright, request a consultation and we'll tell you plainly what we can board.