In the state of Florida, any LLC, limited liability partnership, or foreign entity engaged in the money transmission business is required to obtain a Money Transmitter license. Licensees are authorized to receive monetary value, currency, or payment instruments for transmission purposes.
Money Transmitter licenses are regulated and issued by the Florida Office of Financial Regulation - Financial Institutions Division . The license application process is handled by the Office of Financial Regulation's Online Services.
Access Florida Money Transmitter Application Forms and Related Documents
All relevant forms can be accessed through the Office of Financial Regulations via the Money Transmitters page.
FL Money Transmitter license application form can be found here.
Fulfill Requirements and Complete Required Documents
Type of Filing: Indicate the type of service you wish to apply for: Part II and/or Part Ill License. Part II includes Money Transmitters and Payment Instrument Issuers. Part Ill includes Foreign Currency Exchangers and Check Cashers.
Applicant Information: Provide the applicant’s legal name, address, phone/fax number, and IRS Employee Identification Number (FEID). Sole proprietors may use a social security number (SSN) in lieu of the FEID number. Any fictitious or trade names must be included under this section.
Applicant Organization and History of Operations: Provide an answer to each question under this section. If a question does not apply to your situation, provide an “N/A” response.
Disclosure Information: For each “yes” response, provide the relevant documents. Such documentation may include certified copies of criminal convictions or administrative orders against the license applicant.
Financial Information: List each account through which money transmission activities will be conducted.
Federal Requirements: If applicable, a registration with the Financial Crimes Enforcement Network will be required. A Compliance Officer must also be designated within 90 days of the date the business was established.
Obtain Your FL Money Transmitter Bond
Applicants for a Money Transmitter license in Florida are required to provide a surety bond – or an alternative security device – in an amount between $50,000 and $2,000,000. The amount is determined by the total monetary amount of money transmissions and payment instruments sold in one year. All surety bonds must be issued by a company authorized to do business in the state.
All fees are non-refundable and non-transferable.
FL Part II Application Fee: $375
FL Part Ill Application Fee: $188
Note: If you wish to apply for both Part II and Part Ill, the required fee is $375.
Submit Your Money Transmitter License Application
All license application must be filed electronically through the FL Office of Financial Regulation’s Online Services Portal .
For further information regarding the license requirements you may contact the Office of Financial Regulations at (850) 487-9687.