USA-Licensed Money Transfer Operator Seeking MSB Bank Account

Summary

A newly established U.S.-registered and licensed money transfer operator is looking for a bank to provide MSB account services. The account will hold and process client funds for domestic and cross-border transfers, supplier payments and remittances, at about US$500,000 a month with an average transaction of about US$5,000. A full-time compliance officer and OFAC screening are in place.

Description

A newly established U.S.-registered and U.S.-licensed Money Transfer Operator is seeking a banking partner for MSB account services. The company provides domestic and international payment services, including cross-border money transfers, supplier payments, and remittance services.

The client requires a bank account to hold and process client funds, with expected monthly processing volume of approximately $500,000 and an average transaction size of around $5,000.

Business Profile:

The company is a U.S.-registered Money Services Business / Money Transfer Operator established in 2025. It does not deal in cash, check-cashing, lending, prepaid cards, or nested funds. The business does have cryptocurrency exposure, but does not classify itself as a fintech.

The client has a full-time compliance officer, performs full OFAC screening on incoming and outgoing payments, and has no reported regulatory warnings, suspensions, bankruptcies, fraud issues, or chargeback concerns.

Required Banking Services:

The client is looking for banking access that can support: Checking account; Savings account; ACH; Next-Day ACH; Same-Day ACH / RTP; FedWire; SWIFT; International incoming and outgoing payments; FDIC-insured banking relationship.

Use of Account:

The account will be used for client funds and payment processing related to domestic and international money transfer activity.

International Corridors:

The client expects to send and receive international payments involving:

China, Hong Kong, Singapore, India, Spain, Italy, United Kingdom, Argentina, Brazil, Uruguay, Chile, Peru, and Paraguay

Transaction Types:

The expected transaction mix includes: B2B; B2B2C; C2C.

Compliance Notes:

The client confirms: No cash activity; No check-cashing; No lending; No prepaid/loadable card activity; No nesting of funds; No correspondent banking services; No sanctioned or prohibited country activity; Full OFAC screening on all incoming and outgoing payments; Full-time compliance officer in place; No current PSP; No use of third-party bank accounts.

Timeline:

The client is ready to move forward immediately, ideally within the next 10 days

Deal-Breakers:

The client cannot proceed with providers that have: No support for international payments; Excessively high transaction or service fees; Risk or compliance frameworks that are incompatible with licensed MSB / money transmitter activity.