2. Apply online using NMLS
3. Submit all other required documents as described.
Upon receipt of a complete application, processing time is approximately 45 days, at which time you will receive a letter of approval and a license certificate.
The money transmitter licenses are renewed annually on Dec. 31. The renewal fee is $500. There also is a $100 NMLS processing fee.
NOTE: If the money transmitter individuals change, a new Money Transmission Business Applicant Individual Background Form must be submitted at that time.