NOTICE:  Money Transmitters Use NMLS 

DFI exclusively uses the NMLS to manage money transmitter licenses starting July 19, 2013, by Order of the Commissioner. Through this system, a company can apply for, amend and renew its license conveniently and safely online. You can find instructions here. 

NOTICE: Order of the Commissioner Regarding Receivables
By Order of the Commissioner signed Sept. 5, 2013, DFI has expanded the types of permissible investments money transmitters can maintain. The order clarifies and updates the standards for money transmitters regarding the use of ACH, debit card and credit card receivables as permissible investments. 

How to License a New Money Transmitter Company:

1. Read KRS 286.11.
2. Apply online using NMLS.
3. Submit all other required documents as described. 

Once DFI receives a complete application, processing time is approximately 45 days. We will send a letter of approval and a license certificate upon approval.

Money transmitter licenses are renewed annually on Dec. 31. The renewal fee is $500. There also is a $100 NMLS processing fee.

How to Renew a Money Transmitter Company License:

1. Read KRS 286.11.
2. Complete the renewal online using NMLS.
3. Submit all other required documents as described.
 
Money transmitter licenses are renewed annually on Dec. 31. The renewal fee is $500. There also is a $100 NMLS processing fee.

For More Information

• Contact Jessica Sullivan at (502) 782-9095 with questions about applications, licensing, registration or exemptions.
  
• Contact Rebecca Arthur  at (502) 892-4130, about regulatory or compliance questions.
  
• For NMLS operational assistance, call (855) NMLS-123 or (855) 665-7123.