Money Transmitter Bond

A money transmitter bond is meant to guarantee the professional and honest rendering of services by businesses that offer money transmitting services.
Money transmitter surety bonds are a requirement in most states. Federal law requires all money transmitter businesses to acquire a monetary transmitter license to operate legally.
Key Highlights
- A money transmitter bond helps in protecting the state in which the bond is issued and the public from any money transmitters who may have fraudulent goals such as withholding, stealing or misusing funds.
- Businesses that also offer payments from one business or person to another are required to have bonds to acquire licenses.
- A money transmitter license is also referred to as a money remitter, money services business, check casher or sales of check license.
How do I purchase a money transmitter bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue money transmitter bonds in each of the 50 states. We can provide the best rates for your bond, as well as the fastest issuance, to get your business off and running.
Our short online application makes it easy. Click below to start the application process today.
Money Transmitter Bond FAQs
A money transmitter is a business that offers money transfer services. A money transmitter bond is meant to guarantee the professional and honest rendering of services by businesses that offer money transmitting services. The bond helps in protecting the state in which the bond is issued and the public from any money transmitters who may have fraudulent goals such as withholding, stealing or misusing funds.
Money transmitter surety bonds are a requirement in most states. Federal law requires all money transmitter businesses to acquire a money transmitter license to operate legally. Check with your state's department of finance or business licensing bureau for licensing and bonding requirements, or contact a member of the NFP Surety team.
Businesses that offer money transferring or transmitting services are required to acquire a bond as part of the licensing process. These forms of business may include online merchants, wire transfer services and money service businesses.
Yes — each state has its own rules and some states refer to money transmitter surety bonds using other names, but they all serve the same purpose and are a requirement in most. The businesses that need these bonds also vary by state. Businesses that deal in virtual currencies, for example, may need to get bonds to operate in some states but not others.
Check with your state’s department of finance or business licensing bureau for licensing and bonding requirements or contact a member of the NFP Surety team.
This depends on several factors and can vary based on the bond amount and the applicant’s financial status and history.
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