Any person or business entity engaging in the business of selling or issuing checks, or receiving money for transmission or transmitting the same. Required when: Required as a condition for the issuance and retention of a Money Transmitter license. Exemptions: Banking institutions (banks, trust companies, savings bank…
Overview
What it is.
Any person or business entity engaging in the business of selling or issuing checks, or receiving money for transmission or transmitting the same. Required when: Required as a condition for the issuance and retention of a Money Transmitter license. Exemptions: Banking institutions (banks, trust companies, savings bank…
Who usually needs it
Any person or business entity engaging in the business of selling or issuing checks, or receiving money for transmission or transmitting the same.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNYBond amount$500,000Term lengthContinuousObligeeNew York State Department of Financial ServicesRenewalThe bond remains in full force and effect as long as the license is active. Licensees must maintain the bond and provide evidence of its continuation or a new bond as required by the Superintendent during the annual lic…Bond classMiscellaneous CommercialCategoryFinancial ServicesBondCorporate Surety BondStatutory referenceNew York Banking Law Article 13-B, Section 643JurisdictionState
