Money Transmitters - DFI
Money Transmitters - DFI
Money Transmitters

This License is required for any company who sells or issues payment instruments, receives money for transmission, exchanges payment instruments, or receives money for obligors for the purpose of paying bills, invoices, or accounts.  

Who is exempt from this License?  Please review A.R.S. § 6-1203.

Inquiries concerning the preparation and filing of License and renewal applications with the Department should be directed to the Licensing Division at 602-771-2800 or e-mail at [email protected]

License Renewal Information
Forms and Fees

Application Fees and Forms for Money Transmitters

Arizona Revised Statutes §6-126 et seq.

The following nonrefundable fees are payable to the department with the filing of the following applications.

Description Fees Forms
New Application 
 
$1,500.00 + License Fee (based upon submission date):

Feb, Mar, April: $375.00
May, June, July: $250.00
Aug, Sept, Oct: $625.00*
Nov, Dec, Jan: $500.00

Fees are nonrefundable.
*Fee includes the following year renewal fee.
Branch Office Application
 
$25.00 + License Fee (based upon submission date):

Feb, Mar, April: $18.75
May, June, July: $12.50
Aug, Sept, Oct: $31.25*
Nov, Dec, Jan: $25.00

Fees are nonrefundable.
*Fee includes the following year renewal fee.
License Renewal
License Year: 11/01 - 10/31
Renewal Due: 09/01 - 11/01: Without Penalty
11/02 - 12/01: With Penalty ($100/day)
$500.00 HO
$25.00 each branch and/or authorized delegate (up to $2,500)

Fees are nonrefundable.$500.00
Address Change No Fee
Name Change
 
$250.00
Authorized Delegates $25.00 each authorized delegate (up to $4,500)
Change of Control/Ownership change (“COC”) $2,500.00
Responsible Individual Change No Fee
Officer Change No Fee
Branch Manager Change
 
$250.00
License Surrender
 
No Fee
Duplicate License
 
No Fee
Required Reports
Laws, Rules & Substantive Policy Statements & Regulatory Alerts

Arizona Revised Statutes
Chapter 12 TRANSMITTERS OF MONEY
Article 1    Licenses and Regulation
6-1201 Definitions
6-1202 License required
6-1203 Exemptions
6-1204 Application for license; fees
6-1205 Bond required; conditions; notice; cancellation; substitution
6-1205.01 Net worth requirements
6-1206 Issuance of license; renewal
6-1207 Principal and branch offices; notices
6-1208 Authorized delegates of licensee; reports
6-1209 Cease and desist orders; examinations
6-1210 Suspension or revocation of licenses
6-1211 Reports
6-1212 Permissible investments
6-1213 Records
6-1214 Liability of licensees
6-1215 Notice of source of instrument; transaction records
6-1216 Acquisition of control
6-1217 Appointment of superintendent as agent for service of process; forwarding of process; consent to jurisdiction
6-1218 Prohibited transactions
   
Article 2                      Money Laundering
6-1241 Reports to the attorney general; investigation; violation; classification
6-1242 Investigations
 
Arizona Administrative Code Title 20 
N/A
Substantive Policy Statements 
ARTICLE 1. General Administration
APPLICATIONS GE-1 
CREDIT REPORTS/ARREST RECORDS  GE-3

Regulatory Alerts
Regulatory Bulletin MT-17-01
Regulatory Bulletin MT-12-01
Regulatory Alert MT-09-01
Regulatory Alert MT-08-01
Regulatory Alert MT-03-01
Regulatory Alert MT-03-02

Examinations

It is the policy of AZDFI to select the most effective and efficient methods of conducting examinations so that significant risks affecting safety and soundness, as well as substantive statutory compliance, can be identified and, if necessary, appropriate supervisory action taken.  Judgment must be utilized to ensure that necessary procedures are performed and ineffective activities are avoided.
The examination fee in accordance with A.R.S. §6-125 is not more than sixty-five dollars per hour for each examiner.  The assessment late penalty is fifty dollars for each day after the thirty day period the enterprise fails to remit the assessment not to exceed the examination assessment amount.
Pursuant to A.R.S. 6-122(3) examination frequency is at the Superintendent’s discretion
For questions concerning examination of your company or license, please contact the Financial Enterprise Division at 602-771-2800 or e-mail to [email protected].

Money Transmitters - NMLS

Note: Companies holding these license types are encouraged to submit a license transition request through NMLS by filing a Company Form (MU1) and an Individual Form (MU2) for each of their control persons.  Additionally, for each branch holding these license types, companies are encouraged to complete and submit a Branch Form (MU3). Click here for more information.
This License is required for any company who sells or issues payment instruments, receives money for transmission, exchanges payment instruments, or receives money for obligors for the purpose of paying bills, invoices, or accounts. 
Who is exempt from this License?  Please review A.R.S. § 6-1203.

Company LicensesDescriptionRequirements Checklist

Money Transmitter LicenseThis license will become available in NMLS starting May 1st, 2017. See Arizona Revised Statutes Title 6, Chapter 12 - Money Transmitter for more information about who is required to have this license. (More Details)

Branch LicensesDescriptionRequirements Checklist

Money Transmitter Branch LicenseThis license will become available in NMLS starting May 1st, 2017. This License is required for any company who sells or issues payment instruments, receives money for transmission, exchanges payment instruments, or receives money for obligors for the purpose of paying bills, invoices, or accounts. See Arizona Revised Statutes Title 6, Chapter 12 – Money Transmitter Branch (More Details)

ARS § 41-1030(G) requires most Arizona government agencies to prominently print the provisions of ARS § 41-1030(B), (D), (E) and (F) on all license applications.  The following is the language in ARS § 41-1030(B), (D), (E) and (F):

B. An agency shall not base a licensing decision in whole or in part on a licensing requirement or condition that is not specifically authorized by statute, rule or state tribal gaming compact. A general grant of authority in statute does not constitute a basis for imposing a licensing requirement or condition unless a rule is made pursuant to that general grant of authority that specifically authorizes the requirement or condition.

D. This section may be enforced in a private civil action and relief may be awarded against the state.  The court may award reasonable attorney fees, damages and all fees associated with the license application to a party that prevails in an action against the state for a violation of this section.

E. A state employee may not intentionally or knowingly violate this section.  A violation of this section is cause for disciplinary action or dismissal pursuant to the agency’s adopted personnel policy.

F. This section does not abrogate the immunity provided by section 12-820.01 or 12-820.02.

Money Transmitters - DFI