How to Get a Money Transmitter License

Most businesses and individuals deal with money daily, receiving it in exchange for goods and services, or using it to pay for items they need. There are some companies, though, that are in the business of handling money itself. Facilitating the movement of money from one person to the next, or one business to the next may mean you are operating a money service business, or MSB. When that’s the case, you may need a money transmitter license.

Operating your business as a money transmitter comes with several rules and regulations by which you must abide, on both a state and a federal level. Our guide for money transmitter licensing is meant to help you understand what it means to be a money transmitter, how to get through the licensing process, and will provide you with a state by state breakdown of regulations you should know. First, though, let’s start with defining what a money transmitter is – and what it isn’t.

If you’re ready to learn how to get licensed, you can read our in-depth state-by-state money transmitter license guides to quickly determine all the requirements you must meet in your state.

 

 

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What’s a Money Transmitter?

To understand who may need to go through the licensing process as a money transmitter, it is necessary to first recognize what it means to be a money service business (MSB). According to a federal regulatory body, an MSB is an individual or organization conducting business in one of the following capacities:

  • As a currency dealer or exchanger
  • A check casher
  • Issuer or seller of traveler’s checks, money orders, or other stored value

However, not all money service businesses are considered money transmitters under either federal or state law. To be a money transmitter, you must be transmitting money either in the US or abroad on behalf of another person or persons. This means your business is engaged in receiving money or some form of monetary value to transmit it. If that is the case, you will likely need a money transmitter license.

Who needs a money transmitter license?

Each state differs in its definition of a money transmitter, making it somewhat challenging to know if your specific business model requires a money transmitter license or not. In many cases, though, anyone who receives money to transmit it to another location, through any channel, is a money transmitter. Companies or individuals who transmit money through wire, fax, electronic transfer, or payment instrument may be considered a money transmitter, and therefore, required to hold a license as one.

However, some states exempt certain businesses from needing a money transmitter license, including certain companies operating in the digital currency space. Be sure to read through our state-by-state guide on Bitcoin Money Transmitters to see if you may be considered a money transmitter based on your digital currency business.

Who qualifies as a money transmitter?

Anyone who completes more than $1,000 in transactions in the same day may qualify as a money transmitter if those transactions fall into the following categories:

  • Check cashing
  • Currency dealing or exchanging
  • Money transfer services (in any amount)
  • Traveler’s checks
  • Money orders

If your business conducts these types of transactions, you may qualify as a money transmitter and need a license to operate legally.


 

What is the Money Transmitter Licensing Process?

The licensing process for money transmitters can be a lengthy one based on the type of money transmitter you are, the number of states where you want to operate, and the state-specific requirements you must meet in order to get your license. It is important to note that you must have a money transmitter license in each state where you want to do business, which adds time to the total application and licensing process.

Meet the Requirements and Submit Your Application

Every state, except Montana and South Carolina, has certain requirements you and your business must meet in order to get a money transmitter license. While these vary from state to state, common requirements include the following:

  • A license application that includes the business address, a tax identification number, social security number, and name of the business owner
  • A statement of net worth and certificate of good standing for your business
  • A minimum net worth requirement
  • Completing a background check
  • Application and licensing fees
  • A form of security, most often a surety bond

Once you have gathered the information necessary to submit with your money transmitter license application, you submit everything to your state’s licensing organization.

Obtain Your Money Transmitter Bond

Part of the licensing process for being a money transmitter involves a form of security, most commonly a surety bond. A surety bond for money transmitters ensures that you are licensed correctly in the states where your business operates and that you will adhere to regulations in the money transmitter industry. If you fail to do so, you may have a claim against your bond that is initially paid by your surety agency. However, you are required to pay bond claims back in full.

Getting your money transmitter bond requires an application to a surety agency. You will need to provide the details of your business and undergo a credit check to ensure you are a good candidate for a bond. Having bad credit does not mean you cannot get a bond, but it does mean you may pay more for your money transmitter bond initially. You can also take a look at our most frequently asked surety bond questions.

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Once you are approved for your money transmitter bond, you pay your premium to put the bond in place. You’ll want to send along your bond information to your state’s licensing organization if required to fulfill your initial licensing requirements correctly.

Cover Your License Fees

Along with your licensing application and your bond, you will need to pay the license fee as a new money transmitter. These fees range from a few hundred dollars to several thousand, so be sure to check your state’s requirements to prepare for this cost.


 

What Do You Need to Apply for a Money Transmitter License?

If you qualify as a money transmitter and require a license, you’ll need to gather specific documents and information to provide as part of the licensing process. These requirements are different in each state, but you can get an idea of what you may need from the information listed below.

Provide Detailed Business Plans

A business plan serves as a roadmap of sorts for any new company, as it includes essential details about the operation and financial health of the business now and in the future. You may be required to provide a detailed business plan as part of the application process for a money transmitter. This should include where the business is located, what its purpose is in existing, how it will interact with and provide products or services to customers, and how you will fund the business.

Applicant’s Financial Statements and Financial Records of Directors and Major Shareholders

One of the most important components of a money transmitter license is the financial statements provided for you and your business. Each state will require you to include detailed financial documentation about assets, net worth, business cash flow and liabilities, and in some cases, personal assets and liabilities. Be sure this information is both accurate and well-organized before submitting it with your application.

In addition to your own financial information, you will also need to provide details about any major shareholders or control persons involved in your business. They will need to share similar information about assets, liabilities, net worth, and other business interests as part of the application process.

Background Check

You will also need to submit to a background check as part of the money transmitter licensing process. The background check may include both criminal and civil issues. This part of the process is to ensure you are trustworthy enough to handle money transmission for customers.

Compliance Policies: Anti Money Laundering (AML) Program

Any business requesting licensing and ultimately operating as a money transmitter must follow strict guidelines for anti-money laundering policies and procedures. The Financial Crimes Enforcement Network, FinCEN, requires money transmitters and MSBs to have an anti-money laundering program in place that follows these principals:

  • The policy must be in writing and designed to prevent money laundering and the financing of terrorist activities
  • It must include certain controls, policies, and procedures to assure compliance with AML laws
  • It must include policies and procedures that are designed to verify the identity of customers
  • It must have reporting capabilities as well as record retention practices in place
  • A person must be designated to manage and ensure compliance with the program

The policies and procedures of an AML program must be updated periodically to ensure compliance with the law.


 

Money Transmitter License Examination Requirements

New applicants for a money transmitter license must also go through certain examination and investigation requirements, depending on the state in which they apply for their license. Again, these requirements vary from state to state, but a basic overview of what to expect for examination and investigation is provided here.

Investigation Upon Application

Once the state agency responsible for reviewing and issuing money transmitters licenses receives an application, an investigation may be requested. The state takes steps to verify and review the financial responsibility of the business, experience in the industry, the character of the applicant and potentially officers and directors of the company.

Examination by Department

Each year you hold a money transmitter license, the state may conduct an annual examination of the business and you as the business owner. This examination process involves similar steps as the investigation upon application, reviewing detailed information about the business operations, financial standing, and character of the licensee.


 

Money Transmitter License: Costs & Fees

There are a handful of fees associated with getting your money transmitter license which you should be prepared to cover when submitting your application. These include application fees, renewal fees, and fees for investigations and examinations.

Application Fee

The application fee for a money transmitter license will vary depending on the state in which you plan to operate. This cost can range from a few hundred dollars per location to a few thousand, so it is important to check with your state’s licensing department to verify your total cost.

Annual License Fee

Money transmitters are also required to pay an annual renewal fee to maintain their license. This fee is often less than the initial licensing fee, and ranges from $250 up to $1,000 in most states.

Investigation Fee

For states that require money transmitters to undergo an investigation upon application, or an examination after receiving a license, there may be a fee charged. This fee ranges from $50 to $1,000 in most states.


 

Money Transmitter Regulatory Challenges

In addition to the lengthy and cumbersome application process to obtain your money transmitter license, there are additional requirements that may pose challenges along the way. These include meeting minimum net worth criteria and obtaining a minimum bond amount as security.

Minimum Net Worth

Because money transmitter licenses are regulated on the state level, minimum net worth requirements vary greatly. For instance, a money transmitter in Alabama must have a minimum net worth of $5,000 to qualify for a license.

However, Arizona money transmitters must have a minimum net worth of $100,000 for the principal business location, and a minimum net worth of $50,000 for each additional location. High volume money transmitters, or those who conduct transactions totaling more than $500,000 during the year, may have up to an additional $500,000 net worth requirement when conducting business in Arizona.

Security

Most states also require money transmitters to have some form of security in place to protect customers and the state from bad business practices. The amount and form of security vary from state to state. For example, California requires a surety bond or securities on deposit of at least $250,000 to be in place to grant a money transmitter license.

In Colorado, however, a surety bond or securities on deposit must be no less than $1,000,000 for money transmitters doing business in the state. If the licensee does not meet certain financial standards, though, a higher surety bond or securities on deposit amount may be necessary.

Surety Provider

Most money transmitters going through the licensing process will opt for a surety bond instead of securities on deposit as their form of security to the state. However, not all surety agencies work with money transmitters given the potentially risky nature of the business. It is important to find the right surety provider to ensure you are getting the best available bond for your business, at the right price. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.

Money Transmitters under Federal Law

Above and beyond the various state requirements to get a money transmitter license, any business operating as an MSB also has federal laws to understand and comply with. This includes registration with the Financial Crimes Enforcement Network, or FinCEN.

Financial Crimes Enforcement Network (FinCEN)

FinCEN is the federal agency responsible for regulating businesses in the industry of finance and payments. Money transmitters are required to register with FinCEN, a department of the U.S. Treasury, to ensure it is complying with federal laws. Registration as an MSB is simple and quick, completed through a short online process here. This registration must be renewed every two years.


 

Money Transmitter License Regulators and Requirements By State

As we have mentioned throughout this guide, money transmitter rules and regulations vary drastically from state to state. Below you will find the basic requirements for each state, as well as the department you can contact for additional information or direction. You can also see more in-depth requirements for getting your money transmitter license with this helpful resource.

Alabama

Businesses operating as money transmitters in Alabama are required to apply for licensing to the Alabama Securities Commission. The application requirements include detailed information about the business owner, every member of the business, its directors, and paying an application fee of $250. An investigation upon application is required, as is a minimum net worth of $5,000 and a surety bond of at least $10,000.

Alaska

In Alaska, money transmitters are required to submit licensing information to the state’s Department of Commerce, Community and Economic Development: Banking and Securities. The application includes questions about the personal and financial details of the owner and any shareholders in the business. The fee for the license is $500 for the principal office. An investigation upon application is required, as is a minimum net worth of $25,000 and a surety bond of no less than $25,000.

Arizona

Money transmitters in Arizona must submit a license application to the Department of Financial Institutions. The application requires detailed information about the business structure, its owner personal and financial background, and the business activities. An investigation upon application is required, as is a licensing application fee of $1,500. A minimum net worth of $100,000 is necessary, and licensees must have a surety bond of at least $25,000 depending on number of locations.

Arkansas

In Arkansas, money transmitters must submit their license application to the Arkansas Securities Department. The application information required includes information about the business location, its activities, its owner and any members or shareholders of the business. An examination of the business is also required, as is a licensing fee of $1,500. Licensees must have a minimum net worth of $250,000 and a surety bond of at least $50,000 to qualify.

California

Money transmitters operating in California must apply to the California Department of Business Oversight. The application requirements are extensive, including personal and business financial documents, background information for the business owner and shareholders, and detailed information about the operations of the business. An examination upon application is also necessary, as is a license fee of $5,000. Money transmitters in California must have a minimum net worth that varies depending on the volume of business conducted, as well as a surety bond of at least $250,000.

Colorado

In Colorado, money transmitters submit licensing requests to the Department of Regulatory Agencies. License application requirements include the name of the applicant and business, criminal and civil background information, a description of business activities, and detailed financial documentation. An examination by the state is required for new licensees, as is a license fee of $7,500. A minimum net worth of $50,000 is required, and a surety bond of at least $250,000 is required.

Connecticut

Money transmitters in Connecticut submit licensing requirements to the Department of Banking. Applicants provide information about the owners of the business, its location, its financial details, and submit to a background check. An investigation upon application is required, as is a licensing fee of $2,500. The minimum net worth requirement is $500,000, and a surety bond of at least $300,000 is required.

Delaware

The Office of the State Bank Commissioner receives applications for money transmitters in Delaware. The application requires detailed information about the owners of the business, the name and address, and business incorporation information. Applicants undergo an investigation upon application, and they must pay a licensing fee of $230. A money transmitter must have a net worth of at least $100,000 and a surety bond of at least $25,000.

District of Columbia

Money transmitter applicants submit license requests to the Department of Insurance, Securities and Banking in DC. The application includes information about the location of the business, its activities, personal and financial information about the owners, and criminal and civil background details. An investigation upon application is also required, as is a license fee of $500. Applicants must have a net worth of at least $100,000, and obtain a surety bond of at least $50,000.

Florida

In Florida, applications for money transmitters are submitted to the Office of Financial Regulation. Applicants must supply audited financials as well as detailed information about owners and shareholders of the business, submit to a background check, and other details about the activities of the business. An investigation upon application is also required, as is a licensing fee of $375. Applicants must also have a minimum net worth of $100,000 and a surety bond of $50,000.

Georgia

Money transmitters in Georgia submit their applications to the Department of Banking and Finance. The application requires individuals to provide information about the location and activities of the business, financial documentation, and details about the owners and directors. An investigation upon application is required, and a licensing fee of $2,000 plus a $2,250 investigation fee is necessary. Applicants in Georgia must have a minimum surety bond of $50,000.

Hawaii

The Department of Commerce and Consumer Affairs: Financial Institutions handles money transmitter licenses in Hawaii. Applicants must provide detailed information about the owners of the business, the business location and incorporation, business and personal financials, and submit to a background check. An investigation upon application is also required, and applicants must pay a licensing fee of $2,000. A minimum net worth is $1,000 is necessary, and a surety bond of no less than $1,000 is required.

Idaho

In Idaho, money transmitters must submit license applications to the Department of Finance. The application requires detailed information about the business and owners, financials of the business, and locations where the business activities will take place. An investigation upon application is part of the licensing process, as is a fee of $100. Money transmitters in Idaho must have a minimum net worth of $50,000 and a surety bond of at least $10,000.

Illinois

Money transmitters in Illinois submit licensing information to the Illinois Department of Financial and Professional Regulation. The license application requires information about the business, its owner, business activities, and financials, and an examination upon investigation is required. Illinois applicants for a money transmitter license pay a fee of $100 to apply. A minimum net worth of $35,000 is required, as well as a surety bond of at least $100,000.

Indiana

In Indiana, licensing requirements and requests are sent to the Indiana Department of Financial Institutions. The license to be a money transmitter requires information about the owner and director of the business including a background check, financial details, address, and location of the business. An investigation upon application is part of the process, and applicants pay a $1,000 fee to apply. A minimum net worth of $100,000 is required, and a surety bond between $10,000 and $300,000 is required.

Iowa

Money transmitters in Iowa submit licensing information to the Division of Banking in the state. The application requires detailed information about the business owner, shareholders or directors of the business, a criminal and civil background check, location of the business, and its activities. An investigation upon application is necessary, as is paying a licensing fee of $1,000. Money transmitters must have a minimum net worth of $100,000, and a surety bond of at least $50,000.

Kansas

Businesses operating as money transmitters in Kansas submit licensing requests to the Office of the State Bank Commissioner. The application requires detailed information about the business and its owner, and an examination by the commissioner may be involved. The license fee is determined by the commissioner, and a minimum net worth of $250,000 is required. A surety bond of $200,000 is also necessary.

Kentucky

Money transmitters in Kentucky submit licensing requirements to the Department of Financial Institutions. The application includes information specific to the business and its owners, including audited financial statements, background checks, and location of the business. An investigation upon application is required, as is a licensing fee of $500. Money transmitters must have a minimum net worth of $500,000, and a surety bond of at least the same amount.

Louisiana

Application requirements for a money transmitter in Louisiana are submitted through the Office of Financial Institutions. Applicants provide detailed information about the business, its location and activities, and business owners, including financial documentation. An investigation upon application is required. The application fee is $3,000, a minimum net worth of $100,000 is necessary, and a surety bond of $25,000 is required.

Maine

Money transmitter applicants in Maine submit licensing requirements to the Department of Professional and Financial Regulation: Bureau of Consumer Credit Protection. The application requires information about all business owners, audited financial statements, and an investigation upon application. A license fee of $500 is required. Money transmitters must have a minimum net worth of $100,000 and a surety bond of at least $100,000.

Maryland

Applicants for a money transmitter license submit requirements to the Department of Labor, Licensing and Regulation in Maryland. The business must provide details about its location, business activities, financials, and owners or shareholders. An investigation upon application is required, as is a license fee of $1,000. A minimum net worth of $150,000 is necessary, and a surety bond of $150,000 is required.

Massachusetts

In Massachusetts, money transmitters apply to the Consumer Affairs and Business Regulation: Division of Banks. Applicants must provide details about the business, audited financial statements, and business activities, and undergo a criminal background check. A licensing fee is charged which changes each year. Money transmitters must have a surety bond of at least $50,000, although no minimum net worth requirement is noted.

Michigan

Money transmitters in Michigan submit licensing requirements to the Department of Licensing and Regulatory Affairs. The application requires information about the business location and owners, its activities, and audited financial statements. An investigation upon application is also necessary, along with a fee of $600. Minimum net worth must be $100,000, and a surety bond of at least $500,000 is required.

Minnesota

Applications for a money transmitter license in Minnesota are submitted to the Department of Commerce. Applicants provide information about the owners of the business, criminal background check, and financial history. An investigation upon application is required, and the license application costs $4,000. Money transmitters must have a minimum net worth of $25,000, and a surety bond of at least $25,000.

Mississippi

In Mississippi, money transmitters licenses are submitted to the Department of Banking and Consumer Finance. Applicants provide information about the business owner and shareholders, the location of the business, and submit to a background check. An investigation upon application is required, and a licensing fee of $50 must be paid. Minimum net worth requirements are $25,000, and a surety bond of at least $25,000 must be in place.

Missouri

The Division of Finance handles money transmitter applications in Missouri. Applicants need to provide information about the business owner and its members, and the location of the business. An investigation upon application is part of the process, and a licensing fee of $50 is necessary. Money transmitters must have a surety bond of at least $100,000.

Montana

There are no money transmitter licensing requirements in Montana.

Nebraska

In Nebraska, the Department of Banking and Finance manages money transmitter licensing. Applicants must provide information about the owner, members of the business, its location, and submit to an investigation upon application. A licensing fee of $1,000 must be paid, and a minimum net worth of $50,000 is necessary. A surety bond of at least $100,000 is also required.

Nevada

Money transmitters in Nevada submit applications to the Department of Business and Industry. Applicants must provide information about the business, citizenship of all owners and shareholders, and submit to a background check and investigation upon application. The application fee is $375, and a minimum net worth of $100,000 is required. A surety bond of at least $10,000 must be in place.

New Hampshire

In New Hampshire, money transmitters submit licensing information to the Banking Department. Application details include information about all owners and members of the business, a statement of net worth, and an investigation upon application. The licensing fee is $500, and a minimum net worth of $1,000,000 is required. A surety bond of at least $100,000 must also be in place.

New Jersey

The Department of Banking and Insurance manages money transmitter licensing in New Jersey. Applicants provide detailed information about the business, its owners and activities, and submit to a background check and investigation upon application. The licensing fee is $700, and a minimum net worth of $100,000 is required. A surety bond of at least $100,000 also needs to be in place.

New Mexico

In New Mexico, applications for a money transmitter license are submitted to the Regulation and Licensing Department. Applicants provide information about the business, its owners, audited financial statements, and submit to an investigation upon application. The licensing fee is $150, and a minimum net worth of $100,000 is required. A surety bond of $10,000 is also necessary.

New York

In New York, money transmitters submit licensing applications to the Department of Financial Services. Applicants provide information about the business, its activities and owners, and submit to an investigation upon application. The licensing fee is $3,000. While no minimum net worth is noted, a surety bond of at least $500,000 must be in place.

North Carolina

Money transmitters in North Carolina submit applications to the Commissioner of Banks. Applicants provide information about the business, its location and its owners, as well as submit to a background check and investigation. The licensing fee is $500, and a minimum net worth of $100,000 is required. A surety bond of at least $150,000 is also necessary.

North Dakota

In North Dakota, money transmitters submit licensing requirements to the Department of Financial Institutions. An applicant provides information about the business and its activities, including all owners, and submits to an investigation upon application. The licensing fee is $450, and a minimum net worth of $100,000 is necessary. A surety bond of at least $150,000 is also required.

Ohio

Ohio money transmitters submit licensing information to the Department of Commerce. Applications include an investigation, fingerprints, and a criminal background check. Money transmitters pay a licensing fee determined by the state, must have a minimum net worth of $500,000, and maintain a surety bond at $300,000.

Oklahoma

In Oklahoma, money transmitters submit licensing information to the Banking Department. The application requires information about the business activities and location, its owners, and an investigation and background check. A licensing fee of $3,000 and a minimum net worth of $275,000 are required. Money transmitters must also have a surety bond of at least $50,000.

Oregon

Oregon money transmitters submit licensing information to the Division of Finance and Corporate Securities. The application requires an investigation, and detailed information about the business, its owners, and its financial history. A licensing fee of $1,000 is required, as is a minimum net worth of $100,000. A surety bond of at least $25,000 is also necessary.

Pennsylvania

Money transmitters in Pennsylvania submit licensing requirements to the Department of Banking and Securities. The application requires information about each owner of the business, the location and activities of the business, and an investigation. The licensing fee is $1,000, and a minimum net worth of $500,000 is required. A surety bond of at least $1,000,000 is also necessary.

Rhode Island

In Rhode Island, money transmitters submit licensing information to the Department of Business Regulation. An investigation and fingerprints are required, as is detailed information about the business, its locations, and its shareholders. The licensing fee is $180, and a minimum net worth of $50,000 must be in place. A surety bond of $50,000 is also required.

South Carolina

There is no current regulation or application requirement for money transmitters in South Carolina.

South Dakota

In South Dakota, money transmitters submit licensing applications to the Department of Labor and Regulation. Applicants provide details about the business and its owners, the location and financial history, and submit to an investigation. The licensing fee is $1,000, and a minimum net worth of $100,000 is required. A surety bond of at least $100,000 is also required.

Tennessee

Money transmitters in Tennessee submit licensing information to the Department of Financial Institutions. Applicants must provide information about the business including its owners and shareholders, financial documentation, and an investigation. The licensing fee is $250, and a minimum net worth of $100,000 is necessary. A surety bond of at least $50,000 is also required.

Texas

In Texas, money transmitter applications are reviewed by the Department of Banking. Applicants provide details about the business, its owners and shareholders, and submit to a criminal background check and investigation. There is a licensing fee of $2,500, and a minimum net worth requirement of $100,000. A surety bond of at least $300,000 is also required.

Utah

Money transmitters in Utah submit licensing information to the Department of Financial Institutions. Applicants undergo an investigation and provide detailed information about the business and its activities. The licensing fee is $100, and a minimum net worth of $1,000,000 is required. Money transmitters must also have a surety bond of at least $50,000.

Vermont

In Vermont, money transmitter licensing is managed by the Department of Financial Regulation. Applicants submit to an investigation and a background check, and they provide details about the business location, activities, financial records, and its owners. The licensing fee is $1,000, and a minimum net worth of $100,000 is required. A surety bond of at least $100,000 is also necessary.

Virginia

Virginia money transmitters have applications reviewed by the State Corporation Commission. Applicants provide detailed information about the business owners and shareholders, financial history, locations, and submit to an investigation. The licensing fee is $1,000, and the minimum net worth requirement is $200,000. Money transmitters must also have a surety bond of at least $25,000.

Washington

In Washington, money transmitters submit licensing information to the Division of Financial Institutions. Applicants undergo an investigation and background check, and provide details about the business, its activities, and its shareholders. The licensing fee is $1,000, and the minimum net worth requirement is $10,000 for every $1,000,000 of money transmission. A surety bond of at least $10,000 is also required.

West Virginia

West Virginia money transmitters submit licensing information to the Division of Financial Institutions. Applicants provide information about the business and its location and activities, and submit to a background check and investigation. A licensing fee of $1,000 is required, as is a minimum net worth of $50,000. Money transmitters must also have a surety bond of $300,000.

Wisconsin

Money transmitters in Wisconsin submit licensing applications to the Department of Financial Institutions. Applicants provide information about the business, its location, financial history, and submit to an investigation. There is a licensing fee of $300, and a surety bond requirement of at least $10,000.

Wyoming

In Wyoming, money transmitters submit applications to the Division of Banking. Applicants provide details about the business, its structure and owner, and submit to an investigation. The licensing fee is $1,500, and the minimum net worth requirement is $25,000. A surety bond of at least $10,000 is also required.


Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.

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