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Money Services

A money services business (MSB) that conducts money transmission or currency exchange activities in Arkansas as defined by the Arkansas Uniform Money Services Act must be licensed by the Department. A licensed MSB may appoint authorized delegates to conduct money transmission on its behalf that are not individually licensed by the Department. The Department oversees the interests of Arkansas consumers who use MSBs.

The Department receives all MSB applications via the Nationwide Multistate Licensing System (NMLS). View the Arkansas State Licensing Requirements for the Money Transmitter License Description or the Arkansas Currency Exchanger License Description to see the prerequisites and application requirements.

Money Transmitter

A Money Transmitter License is required for any person who engages in money transmission activity in Arkansas. Money Transmission activity includes selling or issuing payment instruments, stored value, prepaid access, or receiving money, virtual currency, or monetary value for transmission. A person licensed by the Department as a Money Transmitter in Arkansas may also conduct Currency Exchange activity.

License Requirements and Fees:

Currency Exchanger

A Currency Exchanger License is required for any person who engages in currency exchange or advertises, solicits, or holds themselves out as providing currency exchange for which the person receives revenue equal to or grater than five percent of total revenues. Currency exchange means receipt of revenues from the exchange of money of one government for money of another government. A person licensed by the Department as a Currency Exchanger in Arkansas may not conduct Money Transmitter activity.

License Requirements and Fees:

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