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)
A medical company in Venezuela requires $50,000 cash for its payroll; they wire us $50,000 in Florida, and we give them $50,000 cash in Venezuela minus the fee. Do we need to set up a correspondent tie-up agreement for such transactions?
Do we need a correspondent tie-up agreement, if there is a licensed financial entity involved, like an exchange, or another Money Services Business?
If we are doing a balance check, do we also need to do a bank account verification? I think the balance check may be sufficient. Please advise.
What is the minimum and maximum amount that a client can pay using a debit card? Also, what is the minimum amount that a client can send using ACH?
If we choose to settle into a US Bank Account (Nostro) via FedWire, what component of the transaction is settled here? Are the funds not being sent to the destination country bank?
Would a US Bank Account (Nostro) via Fedwire be held in a foreign country? Would that be classified as Nostro accounts?
We want to expand untapped corridors where correspondence arrangements are needed and are not available. Would we be allowed to make a correspondence arrangement with Banks in that territory?
We want to acquire an MSB Checking account, can you recommend a bank which understands how to partner with money transfer related businesses?
What are the solution providers payout rails? How can we find out their commercial terms and delivery times for the pay out countries?
We have already started to sign up clients for our B2C (Business to Consumer), for bank to bank transfers. Can you recommend other solution providers for this use case?
How can you tell if the balance being converted to cash is from a credit card, a debit card, a gift card, or a prepaid card?
Other than the receipt, are there other methods to see whether cash was deposited into the gift card or not?
Will I be offered a bank account or sub ledgers by the bank to store the money before it is transferred?
How do you determine which gift cards have been issued in the United States and/or which store has issued them?
Is it possible for you to hold the funds in case I want to get them transferred to a different account?
Are they (the principal license holder) going to hold some money? For example, if they got 100% from the customer, do they hold to the funds or will they release it all?
Before we sign with your company, are there any reference projects we can see to help us make a decision?