Money transmitter

In the law code of the United States, a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments.[1] Three-fifths of US states regulate money transmitters, and there are also federal requirements put on them as well. Usually, these regulated states require a surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintaining a minimum net worth.

Examples

• Wire transfer
• PayPal
• Billpoint