Pre-Requisites

Besides working capital to enter and start this business are there are a couple of important prerequisites before you start your Remittance-as-a-Service journey. It would be extremely helpful for you to take this Remittance Quiz and see how you fare. 

If you don’t have the basic default knowledge and know-how about the industry, then it would be extremely helpful for you to pursue this via online learning through some of the free videos that we have put out for the greater good and public learning. You can find the list of How To Start a Remittance Business videos here. 

In addition to the domain knowledge about the industry, you and your employees must have awareness level training for areas such as anti-money launderingAnti-money Laundering (AML), counter-terrorist financing (CTF), and proliferation financing (PF), with a decent understanding of the FATF (Financial Action Task Force) guidelines. 

Last, but not least, you should have read through the entire RaaS FAQ section, as well as gone through the financial calculations (using the RaaS Calculator). 

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This page was last updated on January 12, 2022.