Financial industry

Money transmitter licensing

Businesses that want to provide money transmission services in Oregon must have a license with the division. Services include items such as electronic bill paying and wiring money within the U.S. and abroad.​ 

How to apply​

  • Complete the division’s application form​ and include all requested documentation
  • Provide proof of current business registration with the Oregon Secretary of State​ 
  • Provide a surety bond agreement​ or deposit form in Word or PDF​ required by statute
  • Provide your last audited financial statements and your most recent unaudited financial statements showing a net worth of no less than $100,000, plus $25,000 for each location or authorized delegate
  • Provide a five-year work history and a completed and signed Criminal Background and Credit Check Authorization Form in Word or PDF for each owner, partner, or manager of the business​​​
  • Submit a nonrefundable $1,000 application fee

All money transmitters must develop and implement an anti-money laundering compliance program as required by the USA Patriot Act, Section 352. Attach to your application a description of your program. The program, at the minimum, should include:

  • Development of internal policies, procedures, and controls
  • Designation of a compliance officer
  • An ongoing employee training program
  • An independent audit function to test programs 
  • Documented approval and review by your board and/or senior management.

Ren​ewals 

At the time of renewal, licensees must submit a renewal application in Word or PDF that includes their most recently audited financial statements and the most recently unaudited financial statements.

Help for non-English speakers

If you need help translating the application and directions, call 503-378-4140 and a receptionist will connect you to an examiner who can help you complete your application.

Offering check cashing services

If you are an Oregon-licensed money transmitter and want to offer check cashing services, you do not need to apply for a check cashing license. However, you still must comply with Oregon statutes regarding fee limits, fee posting requirements, recordkeeping, and other requirements as discussed in ORS 697.500 to 697.555​. This exemption does not apply to your authorized delegates of licensed money transmitters. Authorized delegates must have a check cashing license to provide check cashing services.​​

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