Missouri Money Transmitter Licensing Requirements:


Who needs to be licensed as a money transmitter licensee?

Under Missouri statute, those businesses issuing checks in the state must obtain a money transmitter license.

Specific license requirements for Missouri money transmitters.

To apply as a money transmitter in Missouri requires the following fees and documentation:

• $100 investigation fee
• List of all Missouri business outlets
• Application signed before a public notary
• Documentation of business and residential addresses for officers, directors, partners, and proprietors
• Audit certified by CPA including the opinion that statements fairly and accurately represent the condition of the company
• Balance sheet, income statement, statement of changes in financial position
• Copy of Bank Secrecy Act Registration of Money Services Business form and Certificate of Compliance or Statement of why company was exempt
• Identification information
• Contact information of preparer
• High Daily Transmission form (affidavit with a number signed before a notary)
• Proof of solvency form: notarized affidavit stating assets related to checks, demand deposits in federally insured depository institutions, cash on hand and with agents, marketable securities and the names of institutions used

What are the Missouri surety bonding requirements?

Bonding requirements for Missouri money transmitter license include:
Requirements to register as a money transmitter in the state of Missouri include a $100,000 surety bond.  To renew their license, licensees receiving money for transmission are responsible for five times the greatest amount transmitted in a single day during the previous year with a minimum of $100,000 and a maximum of $1,000,000.


Additional resources: Missouri Sale of Checks Law