Money Transmitter - Financial Regulation
A Money Transmitter is a business that sells or issues payment instruments, stored value, or receives money or monetary value for transmission to another location within or outside the United States either by electronically or through the internet. Money transmission includes bill payer services and accelerated mortgage payment services.
- Maryland State Requirements
- New Application Checklist
- Print a Copy of Your License
- Application and Licensing Fees
- MD Money Transmitter Licensee Surety Bond Form
- Money Transmitter Regulators Association (MTRA)
- Money Transmitter Annual Report Template (Excel)
- Money Transmitter Semi-Annual Report Template (Excel)
- Apply for a Maryland Money Transmitter Company License – Forms MU1 and/or MU2 (Login to NMLS)
- Apply for a MD Money Transmitter Branch License – Form MU3 (Login to NMLS)
- Amend a Maryland Money Transmitter License (Login to NMLS)
- Money Transmitter Custodial and Pledge Agreement, page 4
Required: Information on Business Activities
Money Transmitter Licensees Must Submit a Renewal Application On or Before December 31, 2016 - December 14, 2016
Maryland Money Transmitter License 2017 Renewal Process - October 28, 2016
Laws and Rules
Applicants and licensees are expected to be knowledgeable about and in compliance with the Money Transmitter Law, and any other applicable State or Federal statutes and regulations. Maryland rules and regulations can be found by accessing the Annotated Code of Maryland and Rules and Code of Maryland Regulations (COMAR).
Note: To access the Maryland Code Annotated, from the link below, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.
Maryland Code Annotated, Financial Institutions § 12-401 et seq. (Maryland Money Transmission Act)
COMAR 09.03.10 Credit and Other Regulations