Directory / Money transmitters
Money services businesses
FinCEN Form 107 plus a state money-transmitter application on NMLS.
A business that receives money or monetary value from one person and transmits it to another, sells payment instruments, or holds customer funds for later payment generally needs a state money-transmitter or money-services license. That net covers many payment companies, stored-value programs, remittance firms, and digital-asset platforms that move customer value. Agent-of-payee, payment-processor, and bank-agent exemptions exist in some states; they are statutory and fact-specific, not a default.
Register with FinCEN as a money services business (FinCEN Form 107) at the federal layer, then file a separate money-transmitter application through NMLS in each state where customers live. States review net worth, a surety bond, a BSA/AML program, and flow-of-funds documentation. New York adds a virtual-currency license (BitLicense) for certain digital-asset activity on top of money transmission. Montana has historically been the notable state-level exception — confirm current law before you treat it as open.
FinCEN MSB registration and the Bank Secrecy Act are federal duties. They never substitute for a required state money-transmitter license. Unlicensed money transmission can also be a federal crime under 18 U.S.C. § 1960.
Open a state page for the agency name, the usual license title, and whether a statewide license exists. We omit fees, bond amounts, and processing times unless a statute is cited on that page.
50 states. Required means a statewide license, permit, or registration of this type is the usual rule — not that every business model is in scope.
| State | Statewide license | Agency | Filing |
|---|---|---|---|
| Alabama | State license generally required | State Banking Department of Alabama | File through NMLS |
| Alaska | State license generally required | Alaska Division of Banking and Securities | File through NMLS |
| Arizona | State license generally required | Arizona Department of Insurance and Financial Institutions | File through NMLS |
| Arkansas | State license generally required | Arkansas Securities Department | File through NMLS |
| California | State license generally required | California Department of Financial Protection and Innovation | File through NMLS |
| Colorado | State license generally required | Colorado Division of Banking | File through NMLS |
| Connecticut | State license generally required | Connecticut Department of Banking | File through NMLS |
| Delaware | State license generally required | Delaware Office of the State Bank Commissioner | File through NMLS |
| Florida | State license generally required | Florida Office of Financial Regulation | File through NMLS |
| Georgia | State license generally required | Georgia Department of Banking and Finance | File through NMLS |
| Hawaii | State license generally required | Hawaii Division of Financial Institutions | File through NMLS |
| Idaho | State license generally required | Idaho Department of Finance | File through NMLS |
| Illinois | State license generally required | Illinois Department of Financial and Professional Regulation | File through NMLS |
| Indiana | State license generally required | Indiana Department of Financial Institutions | File through NMLS |
| Iowa | State license generally required | Iowa Division of Banking | File through NMLS |
| Kansas | State license generally required | Kansas Office of the State Bank Commissioner | File through NMLS |
| Kentucky | State license generally required | Kentucky Department of Financial Institutions | File through NMLS |
| Louisiana | State license generally required | Louisiana Office of Financial Institutions | File through NMLS |
| Maine | State license generally required | Maine Bureau of Financial Institutions | File through NMLS |
| Maryland | State license generally required | Maryland Office of the Commissioner of Financial Regulation | File through NMLS |
| Massachusetts | State license generally required | Massachusetts Division of Banks | File through NMLS |
| Michigan | State license generally required | Michigan Department of Insurance and Financial Services | File through NMLS |
| Minnesota | State license generally required | Minnesota Department of Commerce | File through NMLS |
| Mississippi | State license generally required | Mississippi Department of Banking and Consumer Finance | File through NMLS |
| Missouri | State license generally required | Missouri Division of Finance | File through NMLS |
| Montana | Confirm with the agency | Montana Division of Banking and Financial Institutions | NMLS or the state portal — use the agency checklist |
| Nebraska | State license generally required | Nebraska Department of Banking and Finance | File through NMLS |
| Nevada | State license generally required | Nevada Financial Institutions Division | File through NMLS |
| New Hampshire | State license generally required | New Hampshire Banking Department | File through NMLS |
| New Jersey | State license generally required | New Jersey Department of Banking and Insurance | File through NMLS |
| New Mexico | State license generally required | New Mexico Financial Institutions Division | File through NMLS |
| New York | State license generally required | New York State Department of Financial Services | File through NMLS |
| North Carolina | State license generally required | North Carolina Office of the Commissioner of Banks | File through NMLS |
| North Dakota | State license generally required | North Dakota Department of Financial Institutions | File through NMLS |
| Ohio | State license generally required | Ohio Division of Financial Institutions | File through NMLS |
| Oklahoma | State license generally required | Oklahoma Banking Department | File through NMLS |
| Oregon | State license generally required | Oregon Division of Financial Regulation | File through NMLS |
| Pennsylvania | State license generally required | Pennsylvania Department of Banking and Securities | File through NMLS |
| Rhode Island | State license generally required | Rhode Island Department of Business Regulation | File through NMLS |
| South Carolina | State license generally required | South Carolina Board of Financial Institutions | File through NMLS |
| South Dakota | State license generally required | South Dakota Division of Banking | File through NMLS |
| Tennessee | State license generally required | Tennessee Department of Financial Institutions | File through NMLS |
| Texas | State license generally required | Texas Department of Banking | File through NMLS |
| Utah | State license generally required | Utah Department of Financial Institutions | File through NMLS |
| Vermont | State license generally required | Vermont Department of Financial Regulation | File through NMLS |
| Virginia | State license generally required | Virginia Bureau of Financial Institutions | File through NMLS |
| Washington | State license generally required | Washington Department of Financial Institutions | File through NMLS |
| West Virginia | State license generally required | West Virginia Division of Financial Institutions | File through NMLS |
| Wisconsin | State license generally required | Wisconsin Department of Financial Institutions | File through NMLS |
| Wyoming | State license generally required | Wyoming Division of Banking | File through NMLS |
Cornerstone’s money transmitters desk · How NMLS filings work · All states
Agency names and filing paths are public facts from state regulator sites, the NMLS / CSBS agency directory, and published statutes. License categories and exemptions change. Confirm the current checklist on the official site before you apply. This is not legal advice and not a fee schedule.