Department of Labor and Regulation

Title - Banking

Money Transmitters

Persons engaged in the business of money transmission must obtain a license from the Division of Banking. Money transmission is defined as the sale or issuance of payment instruments or stored value or of receiving money or monetary value for transmission to a location within or outside the United States by any means, including wire, facsimile or electronic transfer.

A licensee may conduct business in South Dakota at one or more locations, or through one or more authorized delegates, or both, under a single license.

Requirements for Licensure


Renewal of License

Licensee Changes Which Must Be Reported


Laws and Rules

List of Current Licensees


The following forms are available in Adobe .pdf format*.

Money Transmitter Biographical Statement and Consent Form

Money Transmitter Bond

Money Transmitter Security Device (in lieu of a surety bond)

Money Transmitter License Application

Laws and Rules

South Dakota Codified Law (SDCL) 51A-17 on Money Transmission

Administrative Rules of South Dakota (ARSD) Chapter 20:07:21 on Money Transmission Licenses

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Marcia Hultman, Secretary
123 W. Missouri Ave.
Pierre, SD 57501-4505
Tel. 605.773.3101
Fax. 605.773.6184