What is a Money Transmitter Bond?
You need to obtain a surety bond to protect the public. If you do not follow the regulations of the state, a claim can be filed on your bond. For example, if you fail to transfer customer's funds as agreed to, a claim can be made. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
If you're unsure whether you need a bond, you can select your state from the list below to view the bond requirements.
If you need help with obtaining your license or determining the bond requirements, you can check out our money transmitter license guide.
Cryptocurrency Money Transmitter Bonds
The emergence of various cryptocurrencies has forced new surety bond requirements on money transmitters that want to operate in the crypto sector; this can become a headache since most surety bond providers do not handle crypto money transmitter bonds.
Our company offers exclusive crypto money transmitter bond programs, which will allow you to obtain these bonds in any state that requires them.
What will your bond cost?
Bond costs are a small percentage of the bond amount and vary by applicant, bond amount and bond type. You can get a general idea of costs using our instant cost estimate tool. If you're ready for a firm quote, you can apply and get an exact quote instantly online.
Why our rates are so low
When it comes to surety bond insurance, there is safety in numbers. As the largest volume surety bond writer in the country, we are able to obtain the lowest rates from the strongest bonding company partners.
Frequently Asked Questions
Our application only takes minutes. Our website will provide you an instant quote and allow you to buy your bond directly on our website.
You must contact us immediately, as we have a team of claim specialists here to find a resolution for you. Keep in mind, it is crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.
Yes. We are licensed nationwide and due to our bulk underwriting programs, we can provide higher surety credit limits than most other bond agencies. This usually allows you to get bonded in all states.
No. The bond premium is a fee you pay for the surety credit extended to you. The premium fee is in place for the risk assumed by the bonding company. Cancelling your bond may result in a pro-rated returned premium, but never for the first year. Premiums paid for the first year are "fully earned".
Unlike most bonding agencies, we underwrite based on personal credit alone. As you improve your credit, the lower your rate will fall. Although, rates will only be credit based for smaller bond amounts. Larger bonds require review of the owner(s) personal credit, business credit, experience and personal financials. All must be strong for a lower rate.
You can take a look at our full list of license and permit bonds.