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Title: Getting help in registering as a money transmitter Post by: keelba on May 22, 2013, 01:06:59 PM I'm finding it very difficult on Google to find any company/attorney that can assist in getting registered as a money transmitter - Federal/Texas.
Can anyone give me a referral or PM me with a contact whom I can discuss this with? Title: Re: Getting help in registering as a money transmitter Post by: MSantori on May 22, 2013, 03:37:28 PM Hi Keelba. I can help. Please PM me and we can take it from there.
Title: Re: Getting help in registering as a money transmitter Post by: keelba on May 22, 2013, 06:33:51 PM Thank you for getting back to me and it was good speaking with you. I learned a lot from our conversation and will get the information we discussed to you as soon as I can so that we can start working together right away.
Title: Re: Getting help in registering as a money transmitter Post by: MSantori on May 22, 2013, 08:29:05 PM Likewise, Keelba. I look forward to working with you.
Title: Re: Getting help in registering as a money transmitter Post by: buyer on May 28, 2013, 04:27:02 PM Is there a cost for the actual filing and if so how much is that?
What do you typically charge to prepare such a filing? Title: Re: Getting help in registering as a money transmitter Post by: MSantori on May 28, 2013, 05:41:51 PM Hi buyer. I am fortunate enough to be able to tailor my fee structure according to the facts and circumstances of the client and the nature of the project. If you'd like to speak further, please feel free to PM me.
As to the application fee paid to the government goes, every state is different, but they are in the ballpark of a few thousand dollars. The real cost, though, is meeting the bonding requirements. A bond, depending on your credit, is a 2-12% per year fee. So if the bond required is, say $150k, then you're looking at a substantial recurring yearly obligation - per state. There are discounts for cumulative bonding, but the registration fees should probably not be your biggest concern. |