Music hello my name is vessel Khan and I'm a banking and a payment consultant continuing with our how to start a money transfer business YouTube series the next question I have a next topic I want to discuss is about licensing one of the first questions a lot of people ask who want to start a money transfer is is there a way I can do it without a license the answer is no money transfer in all the countries and territories of the world is a licensed phenomenon that means you have to have money transmission itself in general requires a license that means if there are five parties moving money from let's say San Francisco to New York to London - I don't know how gong to Dubai and that's the flow of funds everyone needs to be licensed there cannot be even for a split second even for a short one meter any sort of an insertion where no where that party where that money flow is not licensed money movement throughout the world has to happen through licensed entities the question now is can do you want to acquire your own license do you want to partner up with someone who could give you license that those are the two options that you have you can either go get your own license or you can partner up with someone who already has a license these are the basic tenets there's no there's no third way you have to work with a licensed partner or have your own licenses but a licensing is absolutely mandatory I hope I was able to explain the difference between the two in the next video we'll discuss the two options how can you partner up with someone and how can...
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