ReqoData
United States Financial Services 2026Updated

List of Licensed Money Transmitters by US State

Comprehensive database of companies licensed to transmit money across US states, including NMLS identifiers, licensing authority details, and operational jurisdictions for compliance verification and competitive analysis.

Available Data Fields

Company Name
NMLS ID
Licensed States
License Status
License Type
Issuing Regulator
Headquarters
Surety Bond Amount
License Issue Date
Contact Phone
Contact Email
Permitted Activities

Data Preview

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Company NameNMLS IDHeadquartersLicensed States
Western Union Financial Services, Inc.906983Denver, CO49 states + DC
MoneyGram Payment Systems, Inc.898171Dallas, TX49 states + DC
PayPal, Inc.910457San Jose, CA49 states + DC
Remitly, Inc.104****Seattle, WA49 states + DC
Block, Inc.942933San Francisco, CA49 states + DC

2,000+ records available for download.

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Licensed Money Transmitters Across the United States

The money transmission industry in the United States is regulated at both the federal and state level. At the federal level, all money transmitters must register with FinCEN as Money Services Businesses. At the state level, 49 states (all except Montana) require a separate money transmitter license, each with its own application process, surety bond requirements, and ongoing compliance obligations.

Regulatory Landscape

As of 2023, the NMLS reported 611 companies holding a total of 8,589 approved money transmitter licenses across participating states. The industry spans from global giants like Western Union and MoneyGram to hundreds of smaller regional operators and emerging fintech companies.

State-by-State Licensing Requirements

RequirementTypical RangeNotes
Application Fee$500–$5,000+Varies widely by state
Surety Bond$10,000–$1,000,000Colorado requires minimum $1M
Net Worth Minimum$100,000–$1,000,000Higher for larger transmitters
Processing Time60–180 daysNew York and California among the longest

Model Money Transmission Modernization Act

The Conference of State Bank Supervisors (CSBS) approved the Model Money Transmission Modernization Act in 2021 to harmonize state-level regulations. As of early 2025, 25 states have enacted legislation adopting the model act in whole or in part, including South Carolina, South Dakota, Missouri (2024), and Wisconsin and Kansas (effective January 2025). Despite this progress, significant regulatory fragmentation remains across jurisdictions.

Key Industry Segments

Traditional Remittance
Western Union, MoneyGram — extensive physical agent networks across 200+ countries
Digital-First Platforms
Wise, Remitly, Payoneer — online-only or mobile-first models with lower fees
Payment Processors
PayPal, Block (Square/Cash App), Stripe — integrated payment ecosystems
Crypto-Adjacent
Companies offering cryptocurrency transmission services, subject to additional state-specific rules

Frequently Asked Questions

Q.Does this dataset include money transmitters in Montana?

Montana does not require a money transmitter license, so companies operating there are not listed under a state MTL. However, all money transmitters must still register with FinCEN at the federal level, and those records are included where available.

Q.How current is the licensing data?

When you request this dataset, our AI crawls state regulator websites and the NMLS database in real time to pull the latest licensing information. This ensures you get current license statuses rather than stale snapshots.

Q.Can I verify a specific company's license status?

Yes. The dataset includes NMLS identifiers for each company, which you can cross-reference against the NMLS Consumer Access portal. Our data is sourced from the same public regulatory records.

Q.Are cryptocurrency transmitters included?

Yes. Companies licensed to transmit virtual currency are included where states issue specific crypto money transmitter licenses (such as New York's BitLicense). Filter tags let you isolate crypto-enabled transmitters.

Q.What's the difference between a money transmitter license and an MSB registration?

MSB registration with FinCEN is a federal requirement for all money services businesses. A money transmitter license (MTL) is a separate state-level requirement. Companies need both to operate legally — this dataset covers both federal registration and state-by-state licensing details.