Financial Institutions That Handle Money Transmitter Accounts

Recently, a number of our money transmitter licensees informed us that they are having problems maintaining relationships with their financial institutions.

If you are a money transmitter and your financial institution recently cancelled your business account, please review the following list of financial institutions that handle money transmitter business accounts as of March 2010:

• Key Bank
• Mellon Trust of New England
• Sterling Savings Bank
• US Bank
• Wells Fargo Bank
• TwinStar Credit Union
• Bank of America
• Mountain Pacific Bank
• West Coast Bank
• South Sound Bank

DFI created this list based on a recent survey of our licensees. Not all licensees answered the survey so the list may not represent every financial institution handling money transmitter business accounts.

Any financial institution offering services to money transmitters licensed in Washington that would like to be added to the list can contact us.

Please note that DFI cannot give legal or financial advice and does not endorse or recommend any person, product or institution.

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