Any person or entity seeking to engage in the business of money transmission in Washington, including selling or issuing payment instruments or stored value, or receiving money for transmission. Required when: Application for a money transmitter license or maintenance of an existing license under the Uniform Money Ser…
Overview
What it is.
Any person or entity seeking to engage in the business of money transmission in Washington, including selling or issuing payment instruments or stored value, or receiving money for transmission. Required when: Application for a money transmitter license or maintenance of an existing license under the Uniform Money Ser…
Who usually needs it
Any person or entity seeking to engage in the business of money transmission in Washington, including selling or issuing payment instruments or stored value, or receiving money for transmission.
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.
StateWABond amountThe bond amount is based on the previous year's Washington money transmission a…Term lengthContinuousObligeeWashington State Department of Financial InstitutionsRenewalThe bond is continuous and remains in effect until canceled. Licensees must review and adjust the bond amount annually based on their previous year's volume as part of the annual assessment and license attestation proce…Bond classLicense BondCategoryFinancial ServicesBondMoney transmitter surety bondStatutory referenceRCW 19.230.050JurisdictionState
