Money transmitters in Maine

Who needs this in Maine

A business that receives money or monetary value from Maine customers and transmits it to another person, sells payment instruments, or holds customer funds for later payment generally needs a money-transmitter license from Maine Bureau of Financial Institutions. Agent-of-payee and payment-processor exemptions are statutory and fact-specific.

Where to file

Maine money-transmitter filings go to the Bureau of Financial Institutions, not BCCP. FinCEN MSB registration is a separate federal filing and never replaces the Maine license.

Federal overlay

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.

Sources

• NMLS / CSBS state agency contacts
• FinCEN MSB registration
• NMLS Resource Center