Any person engaged in the business of money transmission, which includes the sale or issuance of payment instruments (checks, drafts, money orders, etc.) or receiving money for transmission. This includes check cashers who meet the federal definition of a Money Services Business (MSB). Required when: Required as a con…
Overview
What it is.
Any person engaged in the business of money transmission, which includes the sale or issuance of payment instruments (checks, drafts, money orders, etc.) or receiving money for transmission. This includes check cashers who meet the federal definition of a Money Services Business (MSB). Required when: Required as a con…
Who usually needs it
Any person engaged in the business of money transmission, which includes the sale or issuance of payment instruments (checks, drafts, money orders, etc.) or receiving money for transmission. This includes check cashers who meet the federal definition of a Money Services Business (MSB).
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.
StateWYBond amount$10,000Term lengthContinuousObligeeWyoming Division of BankingRenewalThe bond remains in effect until cancelled. The license must be renewed annually through the Nationwide Multistate Licensing System (NMLS) between November 1 and December 31.Bond classLicense BondCategoryFinancial ServicesBondMoney Transmitter BondStatutory referenceW.S. 40-22-106JurisdictionState
