Get your MSB registered with FINTRAC in 30 days

With proper preparation, approximately 30 days from initial assessment to active registration on FINTRAC's public registry. The key variable is documentation quality — our applications are designed to pass on the first submission.

FINTRAC charges no fee to register — registration itself is free. The real cost is getting the application right: precise activity descriptions, beneficial ownership documentation, and a compliance program that holds up to examination. A rejected or returned application is what makes DIY registration expensive, in lost weeks.

Not formally — FINTRAC registers MSBs rather than licensing them. What people call a "FINTRAC license" or "MSB license" is an active MSB registration on FINTRAC's public registry. The practical effect is the same: without it, operating a money services business in or from Canada is illegal — registration is mandatory for every covered activity, with administrative monetary penalties for operating without it. The process, documents, and obligations described on this page are exactly what that registration requires.

FINTRAC's registration portal is available online, but DIY registration is the most common cause of delays and rejections. Precise, regulatory-aligned answers are required for every field — a wrong category or vague description can result in months of back-and-forth.

Yes. Under the PCMLTFA, every MSB must have a complete AML/ATF compliance program — a risk assessment, written policies and procedures, ongoing transaction monitoring, suspicious transaction reporting, and records kept for at least five years. FINTRAC can examine it at any time, including shortly after registration, so we recommend building it in parallel with your registration.

In many cases, yes. Under the PCMLTFA, a foreign company directing MSB services at persons in Canada must register regardless of where it's incorporated — typically as a foreign MSB (FMSB). Serving Canada as a domestic MSB instead generally requires a genuine physical presence in Canada. We work with international founders regularly.

MSB registration is with FINTRAC for AML/ATF obligations. RPAA registration is with the Bank of Canada, under the Retail Payment Activities Act, for operational risk and safeguarding of funds — it applies to payment service providers performing retail payment activities. Many payment businesses need both; they are separate frameworks with different requirements.