Any person or entity seeking a license to engage in the business of money transmission, including the sale or issuance of payment instruments, receiving money for transmission, or receiving money for the purpose of paying bills. Required when: Submission of an application for a Money Transmitter or Foreign Money Trans…
Overview
What it is.
Any person or entity seeking a license to engage in the business of money transmission, including the sale or issuance of payment instruments, receiving money for transmission, or receiving money for the purpose of paying bills. Required when: Submission of an application for a Money Transmitter or Foreign Money Trans…
Who usually needs it
Any person or entity seeking a license to engage in the business of money transmission, including the sale or issuance of payment instruments, receiving money for transmission, or receiving money for the purpose of paying bills.
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.
StateNJBond amountFor Money Transmitters: Minimum $100,000; for annual volume over $15 million, t…Term lengthContinuousObligeeNew Jersey Department of Banking and InsuranceRenewalThe bond remains in full force and effect indefinitely unless cancelled by the surety with 30 days' written notice to the Commissioner. Licenses are renewed biennially via the NMLS, but the bond itself is continuous.Bond classLicense BondCategoryFinancial ServicesBondMoney Transmitter/Foreign Money Transmitter BondStatutory referenceN.J.S.A. 17:15C-8JurisdictionState
