Remittance as a Service (RaaS) Cheat Sheet

Remittance-as-a-Service (or RaaS) is offered as an all-in-one solution where you as an entrepreneur, startup, or incumbent can get started in the cross-border money transfer business in the United States in as little as 3-4 weeks. The entire offering is a turnkey solution consisting of regulatory licensing, access to banking, and compliance (AML, KYC, CIP, etc.) is covered. If you are not convinced that leasing a license is more cost-effective than applying for your own licenses, then perhaps this should serve as a great starting point: Your own Money Transmitter Licenses versus Remittance-as-a-Service

In order to get started, we have painstakingly outlined all the facets of the business for you to read through. We have even gone so far as to provide detailed spreadsheets for you to model your business, provide formulas for all the different types of transactions, and have broken the calculation down to their most elementary state.

Download the cheat sheet (PDF) for Remittance As A Service (RasS) – How To.

Here is what you need to read through (doesn’t matter who you are, aspiring entrepreneur, a start-up, or an incumbent), the following is the requisite reading in order of priority.

RaaS Program Details

Please go through the following program pages that highlight more information on the given subject.

  1. What is Money-Transfer-as-a-Service (MTaaS)
  2. What is Remittance-as-a-Service (RaaS)?
  3. Backstory on Remittance-as-a-Service
  4. Remittance as a Service (RaaS) Cheat Sheet
  5. Remittance as a Service (RaaS) Solution
  6. Comparison Table (Starter, Pro & Enterprise)
  7. The Process
  8. API, Mobile or Web
  9. Pre-Requisites
  10. Crypto or Not
  11. Correspondent Agreements
  12. Understanding Custody of Funds
  13. How to submit a detailed Flow of Funds (FoF)?
  14. Starter Package
  15. Pro Package
  16. Enterprise Package
  17. RaaS Pricing Options – What is your monthly total?
  18. RaaS Total One-time & Monthly Cost Calculator
  19. Frequently Asked Questions for Remittance-as-a-Service
  20. Sample Payout Corridor & Rates
  21. Sample Calculations Where $250 is being remitted
  22. Sample Calculations Where $500 is being remitted
  23. Sample Calculations Where $1,000 is being remitted
  24. Detailed Frequently Asked Questions (FAQ) / Knowledge-base
  25. Due Diligence (DD) Documents Requirement
  26. Revenue Modeling Sheet for Remittances
  27. Payment Schedule for Remittance-as-a-Service
  28. Draft Referral Agreement
  29. Shall We Test Your Knowledge On Money Transfer?
  30. Detailed Pictorial FAQ (Frequently Asked Questions) About Our Remittance-In-A-Box Solution (Outdated)
  31. Your own Money Transmitter Licenses versus Remittance-as-a-Service
  32. One-Page Cheat Sheet: Remittance-as-a-Service (RaaS)
  33. Remittance-as-a-Service (RaaS) Forms
  34. Get Started with RaaS

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This page was last updated on January 11, 2022.