Money transfer and bill pay storefront

Immigrant families, unbanked and underbanked customers, and workers who are paid in cash. Providers pay you commissions, and you may also earn small fees from other services such as bill pay.

Commissions from each provider on every transaction, plus margins on side services like prepaid cards, phone top-ups and bill payments. More providers and longer opening hours bring more volume.

• Customer service and trust building
• Cash handling and daily reconciliation
• Managing compliance paperwork
• Marketing within a local community

• Check whether your state and each provider require agent registration, bonds or background checks
• Check federal anti-money laundering obligations, including FinCEN rules, and your provider's compliance program
• Keep careful records; providers can audit you and may end your agreement for compliance failures
• Cash on site is a robbery risk; check insurance, a safe, cameras and cash drop procedures
• Commissions are small per transaction, so check rent and staffing costs against realistic volume before signing a lease

As an estimate, startup costs are typically around $12,000 to $50,000, depending on your location, the shop fit-out, security equipment and how many provider agreements you set up before opening.

Monthly revenue is typically estimated at around $3,000 to $15,000, depending on your location, transaction volume and the providers you work with. Commissions are small per transaction, so compare rent and staffing costs against realistic volume.

Check whether your state and each provider require agent registration, bonds or background checks. Also check federal FinCEN anti-money laundering obligations, record keeping for provider audits, and insurance, safe and camera setups for cash on site.