Alabama Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $100,000- $5,000,000 | $1,000- $50,000 | NMLS, Ala. Code 8 7A-7, Form USB |
Summary of Requirement
Alabama requires money transmitters to obtain a surety bond ranging from $100,000 to $5,00,000, depending on the average daily outstanding payment instrument and stored value obligations in Alabama (Ala. Code 8-7A-7, Form USB). The bond ensures compliance with state regulations under the Alabama Monetary Transmission Act.
Regulator Information
Alabama Securities Commission
Phone: (334) 242-2984
Email: asc@asc.alabama.gov
Website: https://asc.alabama.gov/for-industry/registration/monetary-transmission/