Any person engaging in the business of money transmission, which includes selling or issuing payment instruments, selling or issuing stored value, or receiving money for transmission (including currency exchange services). Required when: Required as a condition of obtaining and maintaining a money transmitter license …
Overview
What it is.
Any person engaging in the business of money transmission, which includes selling or issuing payment instruments, selling or issuing stored value, or receiving money for transmission (including currency exchange services). Required when: Required as a condition of obtaining and maintaining a money transmitter license …
Who usually needs it
Any person engaging in the business of money transmission, which includes selling or issuing payment instruments, selling or issuing stored value, or receiving money for transmission (including currency exchange services).
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.
StateCOBond amount$250,000Term lengthContinuousObligeeColorado Division of BankingRenewalThe bond remains in full force and effect until canceled by the surety. The licensee must periodically review and adjust the bond amount to ensure it meets the statutory requirement based on their average daily money tr…Bond classLicense BondCategoryFinancial ServicesBondMoney Transmitter BondStatutory referenceC.R.S. § 11-110-108JurisdictionState
