Our Simple 3-Step MTL Licence Process
Step 1:
Business model and state strategy
We review your services, customer base, and target markets and define a practical licencing roadmap.
Step 2:
Federal registration and state licencing
We prepare the federal MTL registration with FinCEN and coordinate the required AML framework.
Step 3:
Ongoing Compliance
After registration and licencing, we provide ongoing AML, governance, and regulatory support as your business expands across additional states.
Successful Licence Client Testimonial
"We highly recommend Buckingham Capital Consulting to any business seeking to obtain our MTL licence. Their team understood our specific business requirements and guided us through each regulatory requirement with clarity. The registration process was completed efficiently, and their ongoing compliance support has been instrumental in maintaining our operational standards. We are grateful for their practical expertise and professional approach."
Why Buckingham Capital Consulting: Trusted Experts in MTL Licencing
Expert Guidance Through Every Step of MTL Licence Application
Deep payments and digital asset regulatory expertise
We advise payment institutions, remittance firms, and crypto platforms on US MTL registration and state licencing strategies across multiple jurisdictions.
End-to-end licencing support
We manage the process from federal registration through to multi-state licencing strategy, working with specialist US counsel where required.
Ongoing compliance and governance
After registration and licencing, we support firms with AML reviews, policy updates, and regulatory readiness as they scale across states.
Our Service is Trusted by Leaders in Financial Services
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Expert US MTL Licence & Compliance Services
Since 2013, we’ve guided several businesses through successful MTL licencing. Our fast-track, end-to-end support ensures a smooth, compliant, and efficient process from start to finish.
Federal MSB registration
Preparation and submission of the MTL registration with the Financial Crimes Enforcement Network (FinCEN).
State money transmitter licencing strategy
Assessment of which states require licences based on your activities and customer locations, with a clear multi-state roadmap.
Compliance policies and procedures
Drafting of internal policies covering customer due diligence, transaction monitoring, reporting, and governance.
Ongoing compliance support
Post-licence advisory, AML reviews, and support as your operations expand across multiple states.
Our People
Our team combines payments, crypto, and regulatory expertise to guide firms through US MSB registration and multi-state licencing. We work directly with founders, legal teams, and compliance leads to deliver practical, regulator-ready solutions.
Key information and requirements for the MTL licence in the US
Key requirements
Money transmission in the United States is regulated at two levels:
1. Federal level (FinCEN)
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Businesses must register as a Money Services Business with FinCEN.
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This is a federal registration for anti-money laundering purposes.
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It does not authorise operations in individual states.
2. State level
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Each state has its own money transmitter licencing regime.
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Licences are required in states where you serve customers.
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There are 50 states plus additional US jurisdictions with their own rules.
Most businesses operating nationally require:
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Federal MSB registration, and
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Multiple state money transmitter licences.
Key federal requirements
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Registration with FinCEN as an MSB.
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Appointment of an AML compliance officer.
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Written AML and counter-terrorist financing programme.
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Customer due diligence and recordkeeping procedures.
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Transaction monitoring and suspicious activity reporting.
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Ongoing AML training and independent review.
Typical state licencing requirements
While requirements vary by state, common elements include:
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State money transmitter licence application.
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Minimum net worth or capital requirements.
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Surety bond or other financial security.
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Detailed business plan and compliance framework.
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Background checks for directors and beneficial owners.
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Ongoing reporting and examination obligations.
Some states have more complex regimes, while others have lighter requirements.
Required Documentation
Typical documentation includes:
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Business plan and services description.
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Corporate structure and ownership details.
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Director and beneficial owner information.
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AML and compliance policies and procedures.
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Financial projections and capital details.
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Compliance officer credentials.
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State-specific application forms and disclosures.
Exact requirements depend on the states and business activities.
Other important Information
Federal MSB registration alone does not allow nationwide operations.
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Most payment and crypto businesses require multiple state licences.
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Licencing across all states can take significant time and planning.
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A phased, state-by-state strategy is often more practical for early-stage firms.
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Early structuring decisions can affect licencing timelines and costs.
Our services
We support clients through the full US MSB licencing process, including:
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Business model and regulatory assessment.
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Federal MSB registration with FinCEN.
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Multi-state licencing strategy.
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Coordination with US counsel for state applications.
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AML policy and compliance framework design.
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Ongoing compliance advisory and reviews.