Tipalti Money Services Business (MSB)

Not only do we work with blue-chip banks like Wells Fargo and JP Morgan and help you stay compliant with tax and regulatory laws, Tipalti is a licensed money transmitter and registered with the United States Treasury as a money service business. We have spent many years and invested significantly to acquire and maintain our US money transmitter licenses in every state that requires it to ensure there aren’t any disruptions to your payout operations, to provide you with the best customer experience possible, and eliminate the risk of fines and penalties for improper payouts.

As a licensed money transmitter, Tipalti controls the compliance review process, meaning we can approve you in days once you provide the appropriate documentation, so you can get up and running within weeks. Payout providers without MTLs are at the mercy of the bank’s timeline for the due diligence process, which can take upwards of months.

Tipalti is also under the supervision of regulators and directly required to follow the laws designed to protect you. Requirements include having a full-time Chief Compliance Officer (CCO) who ensures compliance with regulations, undergoing annual audits, maintaining financial reserves, and other controls to ensure we meet state-mandated financial safety requirements. Payout providers who don’t have money transmitter licenses are not directly supervised or audited by regulators. Another benefit of working with a provider who has money transmitter licenses is speed of implementation. Our money transmitter licenses guarantee regulatory oversight, giving you confidence we are a partner you can trust.

Contact Tipalti for details around money transmitter licenses in your state.