Marcia Hultman

Cabinet Secretary

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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.

Multi-state Licensure

Requirements for Licensure


Renewal of License

Licensee Changes Which Must Be Reported


Laws and Rules

List of Entities Holding Money Transmitter License (Link goes to the NMLS Consumer Access)


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 submitting 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