Any person or business entity that engages in the business of transmitting money or virtual currency by means of a transmittal instrument for a fee or other consideration. Required when: Required as a condition for obtaining and maintaining a license to operate as a money transmitter in Pennsylvania. Exemptions: The U…
Overview
What it is.
Any person or business entity that engages in the business of transmitting money or virtual currency by means of a transmittal instrument for a fee or other consideration. Required when: Required as a condition for obtaining and maintaining a license to operate as a money transmitter in Pennsylvania. Exemptions: The U…
Who usually needs it
Any person or business entity that engages in the business of transmitting money or virtual currency by means of a transmittal instrument for a fee or other consideration.
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.
StatePABond amount$1,000,000Term lengthContinuousObligeePennsylvania Department of Banking and SecuritiesRenewalThe bond remains in full force and effect indefinitely until cancelled by the surety. Licensees must ensure the bond remains active and meets the required amount during the annual license renewal process conducted throu…Bond classLicense BondCategoryFinancial ServicesBondMoney Transmitter BondStatutory reference7 P.S. § 6106JurisdictionState
