Two entities run it: IDT Payment Services, Inc. and IDT Payment Services of New York LLC. Anyone asking, “Is BOSS Money safe enough to trust with a real transfer?” can check both directly. IDT Payment Services, Inc. is listed under Nationwide Multistate Licensing System (NMLS) number 935577. It uses identity verification, fraud-prevention checks, and encryption to help protect transfers.
However, none of these measures cover scams that happen outside the app. Once you unknowingly send money to a scammer, those protections may not be able to recover it.
Sending only to people you know and can verify is still your best protection.
Is BOSS Money a legitimate company?
Those filings describe BOSS Money in concrete terms: as of July 31, 2025, it reached 50 countries through roughly 1,800 disbursement partners and more than 250,000 cash payout locations worldwide.
Money transmitter licenses are generally issued by individual states, which is why BOSS Money lists its applicable licensed entities:
|
Entity |
Coverage |
License |
|---|---|---|
|
IDT Payment Services, Inc. |
States where it holds a license |
NMLS #935577; MA license FT9355773 |
|
IDT Payment Services of New York LLC |
New York |
Licensed by the New York State Department of Financial Services |
That NMLS number is searchable on NMLS Consumer Access, the public database regulators maintain so people can verify a company's license status themselves.
How does BOSS Money keep your money safe?
Identity verification
Before releasing a transfer, BOSS Money may:
- Verify who you are
- Confirm the transaction and recipient details
- Check that information against third-party databases
- Flag anything that looks unauthorized
U.S. law requires money transmitters to verify sender and recipient details1 to help prevent fraud and money laundering.
Transaction monitoring
A “pending”4 transfer can mean BOSS Money is still:
- Verifying the recipient's details
- Confirming the payout method
- Running standard security checks
These don’t necessarily mean that the money is stuck or gone. It may simply still be processing.
Secure technology
On the app itself, BOSS Money uses:
- Face ID and passcode locks for account access
- Built-in anti-fraud alerts for unusual activity
- CVV and billing-address checks to help prevent unauthorized payments5
- Its terms1 also commit to protecting personal information, securing transfers, and preventing fraud on the back end
Is BOSS Money safe for international money transfers?
Here's the short version:
BOSS Money operates through licensed U.S. money transmitters.
Sender and recipient details are checked and cross-referenced against third-party databases before release.
Transactions get flagged for review when something looks unusual, sometimes showing up as a pending status.
Encryption, Face ID and passcode locks, and CVV checks cover the app and card payments.
The app shows live status updates on where a transfer stands.5
Eligible transfers can be canceled for a full refund before they’re picked up, delivered, or deposited. They’re refunded within three to seven business days.1
FAQs
Sources: all third party information obtained from applicable website as of September 18, 2026
- https://www.bossmoney.com/en-us/terms-of-use-for-boss-money
- https://www.sec.gov/Archives/edgar/data/1005731/000149315225016071/form10-k.htm
- https://www.bossmoney.com/en-us/security-page
- https://www.bossmoney.com/en-us/blog/money-transfer-pending
- https://www.bossmoney.com/en-us/blog/boss-money-review
This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.
