I want to offer wire transmission services as an agent of Western Union or MoneyGram. Do I need a currency transmission license from the Department?
No, you will be considered an authorized delegate (agent) for either Western Union or MoneyGram. As an authorized delegate of a license holder such as Western Union or MoneyGram, you do not need a license from the Department for the activities covered by the authorized delegate agreement. However, if you are also offering other Department-regulated money services business activities not covered in your authorized delegate agreement with either Western Union or MoneyGram, you would need a license from the Department. For example, if in addition to being a Western Union and MoneyGram agent you also offer currency exchange services on your own, you would need a Currency Exchange License from the Department of Banking.
