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Faisal Khan, LLC
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Frequently Asked Questions<br><em> Faisal Khan, LLC</em>
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Frequently Asked Questions
Faisal Khan, LLC
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AML, CFT, KYC, KYB & Compliance
Banking / Access to Banking / Build Your Own Bank
Blockchain
Card Issuance
Card Processing
Crypto Exchange / Wallet
Crypto-Fiat Solutions
Fee / Pricing
Geography Specific Solutions
Licensing Crypto
Licensing Rest of the World
Licensing UK/EU
Licensing USA / Canada
Money Transfer / Remittances
Payment Networks
Payment Processing & Merchant Services
Running the Business
Software / PaaS / IaaS / RaaS
Commonly Asked Questions
Licensing Crypto
Your fee for new US MTL applications is very high. What do you provide in this service?
Would the financials be in line with the expectations we have set in the term sheet?
Would our company be an agent of the sponsor? I’ve read a lot of jargon about the agent relationship; could you please elaborate on this a bit.
Licensing USA / Canada
Does the solution provider only allow us to conduct business in the US (as we only seek to conduct business in the US based on domestic clients and domestic transfers)?
How many locations under the PLH’s license in the USA are we allowed with starter package and Pro packages for sending? Can more be added without upgrading to the next higher package?
Can we, in due time, transfer to another license in the future (if one day we decide to obtain our own license in the USA)?
Running the Business
Does the solution provider only allow us to conduct business in the US (as we only seek to conduct business in the US based on domestic clients and domestic transfers)?
If we go for the Operator Led Model, are we qualified if we request to be connected to MSBs in Asia & other regions?
Can we, in due time, transfer to another license in the future (if one day we decide to obtain our own license in the USA)?
Banking / Access to Banking / Build Your Own Bank
I learnt the concept of FBO/ Omnibus account/ Pooled account, so considering our models, how can we charge our service fee (let's say 2% of the transaction amount) on behalf of our merchants (since we cannot touch the fund)?
It's mentioned that "the funds will be kept in the custodian accounts with the EMI, which has opened with particular banks", how are we supposed to withdraw that fund to our bank account?
Can you please explain if there is a pricing difference (lower cost) between: 1) Option to BYOBB/BYOMTO (Bring-Your-Own Beneficiary Bank / Bring Your Own MTO) 2) Manage our own FX Handling (Optional)
Fee / Pricing
How many locations under the PLH’s license in the USA are we allowed with starter package and Pro packages for sending? Can more be added without upgrading to the next higher package?
Out of the referral fee (€ 28,000) and non-refundable application fee (€ 1,500), what is the monthly or yearly service charge from the license holder?
Does this service require us to pay monthly fees or we are required to market the app and bring customers on board or both?
Money Transfer / Remittances
I learnt the concept of FBO/ Omnibus account/ Pooled account, so considering our models, how can we charge our service fee (let's say 2% of the transaction amount) on behalf of our merchants (since we cannot touch the fund)?
If we go for the Operator Led Model, are we qualified if we request to be connected to MSBs in Asia & other regions?
Can you connect us with the MSB in Southeast Asia in order to act as the MTO in our models?