money transmitter
Montana Money Transmitter Laws & Licensing
Montana is one of the few states that does not require a money transmitter license. However, businesses are generally still expected to register with FinCEN and comply with federal BSA/AML requirements.
Montana money transmitter requirements at a glance
| Surety bond | Not required (no state license) |
|---|---|
| Minimum net worth | Set by the state regulator |
| FinCEN MSB registration | Required |
Application process
Montana does not require a state money transmitter license. However, all money services businesses are generally expected to register with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB) and implement a comprehensive BSA/AML filings program.
Renewals
No state renewal required. FinCEN MSB registration is generally renewed every 2 years.
While Montana does not require a state money transmitter license, companies are generally still expected to comply with all federal requirements including FinCEN registration, BSA/AML obligations, and suspicious activity reporting. Companies should also verify whether their activities require licensing in other states where they operate.
