If you’re classified as an MSB (money services business), and are looking for a bank account, chances are you might be declined. Banks have classified MSBs as high risk and due to de-risking they decide not to bank them.
When looking for a bank account for your MSB, you will have to use your network, talk to people in the same business and work with referrals. The referral fee may depend on the tie-up and a lot of other factors such as your KYC, your compliance program, average transaction size, backers of your business, flow of funds and most importantly how much fee the bank will make. Depending on these and a lot of other factors, you may or may not be granted a bank account.
Here’s an interesting video on how to find an MSB friendly bank.