The NMTA's core field of membership comprises the state-licensed money transmitters of the United States. These are Full, Associate or Standard members. Other membership categories that have been created for individuals and organizations that are not state-licensed money transmitters (please see below.)
Requirements for Full, Associate or Standard Membership:
All Full, Associate and Standard members must be licensed as money transmitters in at least one US jurisdiction; Agent Members must currently be an agent of a licensed money transmitter. In addition to payment of the yearly dues, specific membership criteria for money transmitters (Full, Associate and Standard members) include:
To apply for membership, we request a paper form by mail, accompanied by a USD check, drawn on a US bank. Online application and payment by credit card, is only available for the Individual Membership.
What Type of NMTA Membership Is Right for You?
Dues Amounts and Benefits by Membership Type
These are the questions on the Application:
1. Does the business have a written compliance program?
2. Does the business have a compliance officer?
3. Does the business have independent compliance audits?
4. Does the business provide for regular training of employees and agents?
5. Is the business licensed in all jurisdictions where license is required? (Attach list of licenses.)
6. Is the business registered with FinCEN as an MSB?
7. Are all of the applicant’s paying correspondents licensed in their jurisdictions?
8. Has the business or its principals ever been convicted of money laundering?
9. Is the business or its principals under investigation by any government agency?
I certify the information contained herein is true to the best of my knowledge and belief. I reaffirm that the applicant is licensed in every jurisdiction in which it operates and its correspondents are licensed where payouts are made, wherever such license is necessary.