Money Transmitters and Payment Instrument Issuers (Part II Licensees) under Chapter 560, Florida Statutes. Required when: Required as a condition of obtaining and maintaining a Part II Money Services Business license. Exemptions: Banks, credit unions, and other federally insured financial depository institutions,The U…
Overview
What it is.
Money Transmitters and Payment Instrument Issuers (Part II Licensees) under Chapter 560, Florida Statutes. Required when: Required as a condition of obtaining and maintaining a Part II Money Services Business license. Exemptions: Banks, credit unions, and other federally insured financial depository institutions,The U…
Who usually needs it
Money Transmitters and Payment Instrument Issuers (Part II Licensees) under Chapter 560, Florida Statutes.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license 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. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
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.
StateFLBond amount$50,000Term lengthContinuousObligeeFlorida Office of Financial RegulationRenewalThe bond is continuous but the required amount must be recalculated annually. Licensees must file the Security Device Calculation Form (OFR-560-07) by January 31st each year to determine if the bond amount needs to be a…Bond classLicense BondCategoryFinancial ServicesBondMoney Services Business Surety BondStatutory referenceSection 560.209, Florida StatutesJurisdictionState
