MSB / Money Services for Sale

An MSB is a financial services business registered with FinCEN (USA) or FINTRAC (Canada) that provides services such as money transmission, foreign exchange, check cashing, and prepaid access. In the US, MSBs must register federally and may require state-level licenses.

In Canada, acquiring an existing MSB can be completed in a matter of hours since ownership transfer is straightforward. In the US, timelines vary state to state — some states require state regulator approval for change of control while others do not. Federal FinCEN registration transfer is quick, but state money transmitter licenses may add weeks depending on the jurisdiction.

Yes, non-US persons can own a US MSB. However, the company typically needs a US-based registered agent and compliance officer. FinCEN registration does not have citizenship requirements, but state-level money transmitter licenses may have additional conditions.

The Retail Payment Activities Act (RPAA) is a Canadian federal regulation requiring payment service providers to register with the Bank of Canada. MSBs operating in Canada must submit an RPAA application to continue providing payment services legally.