Money Transfer Business Licensing in Canada
Launching a remittance business means registering with FINTRAC before your first transfer. We handle your registration, we build the reporting and agent controls the regulator expects, and we keep your transfers moving compliantly.
Money Transferring Requires Mandatory FINTRAC Registration
Transferring or remitting funds makes you a money services business under the PCMLTFA. Registration is mandatory before your very first transfer, and because remittance moves money across borders and through wide networks of agents, FINTRAC applies particularly close scrutiny to how you actually control it.
Cross-Border Reporting and the Travel Rule
International transfers carry their own reporting duties. Electronic funds transfers of ten thousand dollars or more, whether sent or received, must be reported to FINTRAC. Separately, sender and beneficiary information must travel with transfers above the prescribed threshold. Getting either of these wrong is a common and costly examination finding.
FINTRAC Registration
We register your money transfer business and declare your remittance activities correctly.
Transfer Reporting
We build your electronic funds transfer reporting and Travel Rule information controls.
Agent Oversight
We extend your compliance program across every agent and location in your network.
Corridor Screening
We build sanctions screening and enhanced controls for your higher-risk destination countries.
Ready to Simplify Your Compliance?
Transfer Businesses We Support
We support remittance operators, international money transfer companies, digital transfer apps, agent networks that serve diaspora communities, and payment platforms that move funds between Canada and overseas markets every day.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Remittance Firms Choose Us
Agent Control
You remain accountable for your agents, so we build the oversight and training that keeps your network compliant.
Corridor Expertise
Transfers to higher-risk countries attract scrutiny, so we build the enhanced due diligence those corridors genuinely demand.
Banking Retained
Remittance firms lose accounts more than any other sector, so we build the compliance depth banks want to see.
Serving Transfer Firms Across Canada
We register and support money transfer businesses right across Canada, from Toronto and Montreal to Vancouver and Calgary, including operators that run agent networks across several provinces and many international corridors.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
Money Transfer Questions
Clear answers to the questions remittance operators ask most about FINTRAC registration, transfer reporting, and running a compliant money transfer business.
Do I need a money transfer licence?
You need FINTRAC registration as a money services business. Canada issues registrations rather than licences, but the requirement to register is mandatory.
When must transfers be reported?
International electronic funds transfers of ten thousand dollars or more, whether sent or received, must be reported to FINTRAC within the prescribed timeframe.
What is the Travel Rule?
It requires sender and beneficiary information to accompany transfers above the prescribed threshold, so funds cannot move anonymously through the payment chain.
Am I responsible for my agents?
Yes. Your compliance program must cover every agent you appoint, and their failures become your regulatory problem during an examination.
Why do banks close remittance accounts?
Banks view cross-border transfers as high risk. Strong documented controls and clear corridor oversight are what keep your accounts open.