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Faizal Khan, a banking and payment consultant, explains what a money transmitter license is and how to obtain one in the United States. Money transmitter licenses are required for money services businesses regulated by state financial regulators. There are 550 licenses in the US, including one for Washington DC and four for territories like Guam and Puerto Rico. Each state and territory requires a separate application. Money transmitter licenses are costly and require a significant amount of capital to obtain.