Secure and compliant money service business banking solutions for Check Cashers and Money Transmitters. Whether you’re opening new money service business bank accounts or enhancing existing MSB operations, our banking solutions are customized to your needs.
Our dedicated MSB banking team offers a full suite of solutions designed to support the complexities of money service businesses and MSB money service providers:
Needham Bank proudly supports Money Service Businesses across the country. Today, we provide dedicated MSB banking solutions in nine states—and our footprint continues to grow. As our MSB portfolio continues to expand into new markets, we remain committed to scaling responsibly while maintaining the highest standards of compliance and service excellence
Whether you’re establishing new MSB bank accounts or optimizing existing money service operations, our team is ready to help you navigate complex regulatory and operational challenges.
Vice President
Branch Manager
Specialized Banking Center
Medford, MA
Assistant Vice President
Branch Manager II
Specialized Banking Center
Medford, MA
An MSB bank account is a specialized business bank account designed for Money Service Businesses. These accounts support high-volume cash activity, enhanced compliance monitoring, cash logistics, and other banking needs specific to check cashers and money transmitters.
You can begin by contacting a Needham Bank Commercial Banker. Our team will review your business needs, licensing, and operational structure to help you open the right MSB accounts and services.
Yes. Needham Bank specializes in MSB banking for multi-state operators and offers scalable solutions for businesses managing large geographic footprints.
To open an MSB bank account, you’ll typically need business formation documents, licensing information, ownership details, compliance policies, transaction volumes, and other required due-diligence documentation. Our Commercial Bankers will guide you through every step of the process.
Yes. Needham Bank is actively supporting MSBs and continues to expand into new states responsibly. MSB clients currently include businesses in Connecticut, Florida, Massachusetts, Maine, New Hampshire, New Jersey, Pennsylvania, Rhode Island, and Texas.
Needham Bank offers MSB business bank accounts, cash management services, Remote Deposit Capture (RDC), compliance monitoring, personal banking options for owners and employees, and cash logistics support through approved third-party vendors.
Yes. Needham Bank provides secure, compliant money service business bank accounts and comprehensive MSB banking solutions for check cashers and money transmitters across multiple states.
Yes. MSBs require banks with experience in compliance oversight, cash-intensive transactions, and Bank Secrecy Act (BSA) requirements. Not all banks accept MSB clients, which is why partnering with a specialized MSB bank is essential.