- Home to DLR
- Home to Banking
- About Us
- Banking Commission
- South Dakota Laws and Rules
- Money Lenders
- Money Transmitters
- Mortgage Licenses
- Public Deposit Protection Commission
- Trust Companies
- Trust Task Force
- Monthly Activity Reports
- Contact Us
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 (Adobe PDF format)
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 [Link goes to the Nationwide Multistate Licensing System and Registry (NMLS)]
See our Money Transmitter License Renewal Page for details on sumbitting renewal requests.
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