Any person engaged in the business of money transmission in Massachusetts for personal, family, or household purposes, 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 active license. E…
Overview
What it is.
Any person engaged in the business of money transmission in Massachusetts for personal, family, or household purposes, 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 active license. E…
Who usually needs it
Any person engaged in the business of money transmission in Massachusetts for personal, family, or household purposes, including selling or issuing payment instruments or stored value, or receiving money for transmission.
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.
StateMABond amountThe greater of $100,000 or an amount equal to 100 per cent of the licensee's av…Term lengthContinuousObligeeMassachusetts Division of BanksRenewalThe bond must be maintained at all times. Licensees must calculate their average daily money transmission liability quarterly and adjust the bond amount if necessary, unless they maintain the maximum bond amount of $500…Bond classMiscellaneous CommercialCategoryFinancial ServicesBondSurety BondStatutory referenceM.G.L. c. 169B, § 9JurisdictionState
