Information and Resources for Money Transmitters
As stated in Section 641(1) of the Banking Law, “No person shall engage in the business of selling or issuing checks, or engage in the business of receiving money for transmission or transmitting the same, without a license therefor obtained from the superintendent as provided in this article, nor shall any person engage in such business as an agent, except as an agent of a licensee or as agent of a payee….”
For Money Transmitter licensing requirements see Article 13-B of the Banking Law (Sections 640 to 652-b), and Superintendent's Regulations Parts 406, 416, 417 and 300.
Applications and License Management
DFS allows Money Transmitters to use the Nationwide Multistate Licensing System and Registry (NMLS) to manage license applications and ongoing regulation. DFS also utilizes the NMLS Uniform Authorized Agent Reporting (UAAR) functionality to fulfill agent reporting requirements.
The following forms are in PDF format.
- Authority to Release Information
- Bonds - New York Instruments
- Bonds - New York Traveler Checks
- Deposit Agreement
- Financial Statement
- Licensee Contact Update
- Litigation Affidavit
- Lost License Affidavit
- Personal Questionnaire