A foreign money transmitter license is required for any person to engage in the State of New Jersey ONLY in the business of the receipt of money for transmission or transmitting money to locations outside of the United States by any and all means, including but not limited to payment instruments, wire, facsimile, electronic transfer, or otherwise, for a fee, commission or other benefit.
A money transmitter license is required for any person to engage in any or all of the following activities in the State of New Jersey:
(1) the sale or issuance of payment instruments for a fee, commission or other benefit (payment instruments include checks, drafts, money orders, travelers checks or any other instrument or written order for the transmission or payment of money)
(2) the receipt of money for transmission or the transmitting of money within the United States or to locations abroad by any and all means, including but not limited to payment instrument, wire, facsimile, electronic transfer, or otherwise, for a fee, commission or other benefit
(3) the receipt of money for obligors for the purpose of paying obligors’ bills, invoices or accounts for a fee, commission or other benefit paid by the obligor
An authorized delegate is an entity authorized by a licensed money transmitter or licensed foreign money transmitter through an express written contract to sell or issue payment instruments or to engage in the business of transmitting money on behalf of the licensed money transmitter or foreign money transmitter. A delegate is required to be registered in affiliation with the licensed money transmitter or foreign money transmitter.
A location is an additional place of business at which the activities of a money transmitter or a foreign money transmitter are conducted. A location (not the money transmitter/foreign money transmitter principal location) must be registered.
The governing statute is the New Jersey Money Transmitters Act, N.J.S.A.17:15C‑1 et. seq.
NOTE: The instructions and application for a Foreign Money Transmitter license and a Money Transmitter license are the same.
NOTE: Fingerprinting is required for all Money Transmitter/Foreign Money Transmitter License Candidates