Money Transmitters

A money transmitter is a person or business entity that transmits money by means of a transmittal instrument for a fee or other consideration.

Effective November 1, 2012, the Pennsylvania Department of Banking will officially begin using NMLS to manage Money Transmitter and Accelerated Mortgage Payment Provider licensees. Through NMLS, your company will be able to apply for, amend and renew your license authority conveniently and safely online. In order to use NMLS, current licensees must enter their company information onto NMLS by creating a base record and obtaining a unique company identifier. To make the transition easier and to provide additional time for our Debt Management Services licensees, you may begin entering company information onto NMLS on Sept. 1, 2012.

Note: No new Money Transmitter and Accelerated Mortgage Payment Provider application forms will be accepted outside of NMLS after Aug. 31, 2012. New applications may be submitted on or after Sept. 1, 2012, through NMLS.

Transition Plan
Includes important information for Money Transmitters and Accelerated Mortgage Payment Providers currently licensed by the department.

 

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