US deposit insurance, the Federal Reserve payment systems and the registration regime for money services businesses each apply to different kinds of provider. This page keeps them apart.
Which US protections and systems apply to a bank, and which to a non-bank payment provider.
FDIC deposit insurance covers $250,000 per depositor, per insured bank, for each ownership category; corporation, partnership and unincorporated-association accounts form one such category, and balances in the same category at the same bank are added together.
FDIC deposit insurance covers deposits only, and only at FDIC-insured banks. The FDIC says it does not cover the default or bankruptcy of an institution that is not FDIC-insured, and it does not cover crypto assets.
For prepaid cards, the FDIC says insurance applies only when certain requirements are met and the underlying funds are deposited in a bank; it does not apply if the prepaid card provider itself goes bankrupt.
Per the Federal Reserve Board, Fedwire Funds is a real-time gross settlement system whose transfers are immediate, final and irrevocable once processed; depository institutions and certain other institutions holding a Federal Reserve Bank account can participate.
The ACH system is a nationwide network through which depository institutions exchange batches of electronic credit and debit transfers; the Federal Reserve Banks and EPN are the two national ACH operators.
Federal Reserve Financial Services offers FedGlobal ACH Payments, which lets financial institutions send international ACH transactions through the same process used for domestic ACH.
FinCEN says that, with few exceptions, each money services business must register with the US Treasury by filing FinCEN Form 107 within 180 days after the business is established.
FinCEN defines MSB services as money orders, traveler's checks, money transmission, check cashing, currency exchange and currency dealing, and says a business that is an MSB solely as an agent of another MSB need not register.
Understanding Deposit Insurance — FDIC
Deposit Insurance FAQs — FDIC
Fedwire Funds Services — Board of Governors of the Federal Reserve System
Automated Clearinghouse Services — Board of Governors of the Federal Reserve System
FedACH Services — Federal Reserve Financial Services
Money Services Business (MSB) Registration — FinCEN
Fact sheet last reviewed 2026-09-28. Jurisdiction rules are confirmed against the sources above; a provider's own requirements differ and are confirmed by the provider.
Tell us about your structure, activity and payment needs — the essentials, not a full application.
We assess the structure and requirements against what providers typically accept before recommending a direction.
We identify a suitable regulated provider and explain what is realistically available for your case.
You complete official KYC/KYB directly with the regulated financial provider — not with Latynex.
The provider makes the final decision and activates the account. We stay involved if anything needs coordinating.
Latynex is not a bank or electronic money institution. Financial accounts and payment services are provided by independent, regulated financial institutions. Final eligibility and approval are determined by the selected provider, following its own KYC/KYB review.
FDIC deposit insurance covers deposits only, and only at FDIC-insured banks. The FDIC says it does not cover the default or bankruptcy of an institution that is not FDIC-insured, and it does not cover crypto assets.
FinCEN says that, with few exceptions, each money services business must register with the US Treasury by filing FinCEN Form 107 within 180 days after the business is established.
Not yet on a confirmed basis — Latynex is expanding provider coverage here. Your case is still reviewed on submission; where a suitable match exists we make the introduction, and where one doesn't yet, we say so plainly rather than promising one.
No. Latynex is not a bank, EMI or payment institution. We review your case and, where suitable, introduce it to an independent, regulated financial provider who handles the account itself.
No. No introducer can guarantee a banking or payment-account decision. The provider you are introduced to runs its own KYC/KYB review and makes the final call under its own policies.
Typically: certificate of incorporation, register of directors and shareholders, proof of UBO identity and address, a description of business activity, and evidence of source of funds. Exact requirements vary by provider.
Setup and ongoing fees vary with jurisdiction, ownership structure, business activity, expected turnover and compliance profile. The provider discloses its fees before you proceed, and any Latynex advisory fee is disclosed separately.
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