About Membership


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:
  • State license (if applicable)
  • Payment of yearly dues
  • Signed application
  • No pending investigations
  • No stated objection from other member
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:
  • Possessing a valid license to operate as money transmitters (or as agents of one) in all states where remittances are received or paid
  • Paying only through licensed correspondents, where license is required;
  • Having a compliance department headed by an independent and qualified compliance officer;
  • Utilizing up-to-date technology and concepts to comply with bank secrecy act requirements and to prevent and report money laundering
  • Spot-testing of agents and branches and other methods of monitoring agent activity.
  • Possessing an updated compliance handbook and other written procedures and controls;
  • Regular Independent BSA Compliance Audits;
  • Routine screening and training of staff and agents.

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:

If applicant is a money transmitter, please answer the following questions, continuing on a separate sheet if necessary. Please explain any “Yes” answers to Questions 1 through 7, and any "No" answers to Questions 8 or 9.

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.

Member Privacy

Member organizations’ names will appear on our website. Other than that, no personal contact information is made public. A separate Non-Disclosure Agreement is provided for compliance-related advisory services.