Any person or entity engaging in the business of money transmission, which includes the sale or issuance of payment instruments (checks, money orders, traveler's checks) or receiving money for transmission to locations within or outside the United States. Required when: Application for a money transmitter license unde…
Overview
What it is.
Any person or entity engaging in the business of money transmission, which includes the sale or issuance of payment instruments (checks, money orders, traveler's checks) or receiving money for transmission to locations within or outside the United States. Required when: Application for a money transmitter license unde…
Who usually needs it
Any person or entity engaging in the business of money transmission, which includes the sale or issuance of payment instruments (checks, money orders, traveler's checks) or receiving money for transmission to locations within or outside the United States.
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.
StateUTBond amount$50,000Term lengthContinuousObligeeUtah Department of Financial InstitutionsRenewalThe bond must be maintained in full force for the duration of the license and for three years after the licensee ceases money transmission operations in the state. Licenses expire annually on December 31 and must be ren…Bond classLicense BondCategoryFinancial ServicesBondMoney Transmitter BondStatutory referenceUtah Code § 7-25-204JurisdictionState
