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If I receive money on behalf of another person to make a purchase online for them, am I a money transmitter? I am in the US receiving dollars to make purchase online on behalf of a person living outside of the US.

/Legal /Licensing /If I receive money on behalf of another person to make a purchase online for them, am I a money transmitter? I am in the US receiving dollars to make purchase online on behalf of a person living outside of the US.
  • February 2, 2019
  • askfaisalkhan
  • Legal / Licensing

This comes under the Agent of Payee exemption and as such, IIRC only 12 or 13 US States recognize this exemption.

Other States don’t provide an exemption, so you need a money transmitter licenses for those states.

Tagged: #askfaisalkhanagent of payeeagent of payee exemptionmoney transmitter license

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