Any person or entity engaging in the business of money transmission, including selling or issuing payment instruments, stored value, or receiving money for transmission. Required when: Required as a condition of obtaining and maintaining a money transmitter license. Exemptions: Federally insured depository institution…
Overview
What it is.
Any person or entity engaging in the business of money transmission, including selling or issuing payment instruments, stored value, or receiving money for transmission. Required when: Required as a condition of obtaining and maintaining a money transmitter license. Exemptions: Federally insured depository institution…
Who usually needs it
Any person or entity engaging in the business of money transmission, including selling or issuing payment instruments, 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.
StateOKBond amountThe bond amount is the greater of $100,000 or 100% of the licensee's average da…Term lengthContinuousObligeeOklahoma State Banking DepartmentRenewalThe bond remains in effect for the entire term of the license and automatically renews with the license unless cancelled by the surety. The license must be renewed annually by December 31.Bond classLicense BondCategoryFinancial ServicesBondSurety Bond for Money TransmitterStatutory reference6 O.S. § 1531 et seq. (Oklahoma Money Transmission Modernization Act)JurisdictionState
