License requirement

Hi,

I am an independent app developer. My company do not have any MSA license. I plan to use Dwolla API to build app that will allow an individual to transfer money from their personal account to a participating money transfer service based in NY.

The money transfer service provider will be responsible for remitting the money to customers overseas account.

So, basically my app will just make person-to-business transfer within US using Dwolla API. Question is: do i need any kind of license ?

Hi @Zahid_Iftear – Did you perhaps mean an MSB license? If you providing an app that does not touch a user’s funds between the user’s bank account and a remittance company’s account, that would be considered facilitation, and therefore, they would likely not need any MSB licensing.

In case you were looking to sign up as a Pay-As-You-Go user, it’d be good to note that your app would not be approved in that tier as the remittance company users on the platform receiving funds would be MSBs, and we would only potentially accept a review of your business in a Scale/Enterprise contract. If that’s the case, let me know if you’d like to get in touch with our sales teams to learn more about it!

I would like to learn more about it.

Great! Would you be able to DM me your email? I can then have our team reach out to you via email!