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Additional Bonds

Money Transmitter Bond (Bond, not License)

The money transmitter bond is the surety bond posted as a condition of an MSB or money transmitter license. It is the bond that backstops a transmitter's obligations to consumers and the state. It is NOT the same as the money transmitter license itself, which Cornerstone Licensing handles on the Licensing side.

Who needs this bond

Licensed money transmitters and prospective applicants in every state that conditions the license on a posted surety bond (most do).

Typical amount and term

Bond amount set by state, commonly 50,000 to 7,000,000 dollars. Many states scale the bond by transmission volume. Premium 1 to 3 percent of bond amount for well-qualified principals.

What you will need

  • NMLS or state license number
  • Last 12 months of transmission volume by state
  • Company financials and owner credit

How to apply

  1. Send license details and transmission volume
  2. Receive a per-state quote with surge brackets
  3. Bond signed and filed with the state regulator

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