Applicants for a money transmitter license and current licensees in the state of Connecticut. Required when: Required as a condition for the issuance and retention of a money transmitter license. Exemptions: Federally insured banks, out-of-state banks, Connecticut banks, Connecticut credit unions, federal credit union…
Overview
What it is.
Applicants for a money transmitter license and current licensees in the state of Connecticut. Required when: Required as a condition for the issuance and retention of a money transmitter license. Exemptions: Federally insured banks, out-of-state banks, Connecticut banks, Connecticut credit unions, federal credit union…
Who usually needs it
Applicants for a money transmitter license and current licensees in the state of Connecticut.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
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.
StateCTBond amountFor non-virtual currency transmitters: $300,000 if average weekly volume is les…Term lengthContinuousObligeeConnecticut Department of BankingRenewalThe bond must remain in force at all times to prevent license revocation; renewals and maintenance are managed electronically through the Nationwide Multistate Licensing System (NMLS).Bond classMiscellaneous CommercialCategoryFinancial ServicesBondSurety bondStatutory referenceConnecticut General Statutes Section 36a-602JurisdictionState
