Florida Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $50,000 - $250,000 | $500 - $2,500 | NMLS |
Businesses engaging in regulated money transmission in Florida generally must obtain the applicable Part II license unless an exemption applies. The corporate surety bond or approved alternative security device is part of Florida's money services business licensing requirements.
Cost of the Florida Money Transmitter Bond
The annual premium for a Florida Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $50,000 to $250,000, estimated annual premiums range from approximately $500 to $2,500. Complete the quote form to begin the required bonding process.
How the Florida Money Transmitter Bond Works
The Florida Money Transmitter Bond runs to the State of Florida for the benefit of claimants in Florida against the applicant or its authorized vendors. It secures faithful performance of covered obligations involving the receipt, handling, transmission, and payment of funds.
Principal: Florida money transmitter applicant/licensee
Obligee: State of Florida / Florida Office of Financial Regulation
Surety: Bonding or insurance company authorized to do business in Florida
Learn more about the surety bond claim process.
How to Get the Florida Money Transmitter Bond
1. Determine the required security amount using the applicable Florida OFR calculation.
2. Complete the quote form to begin the required bonding process.
3. Pay the applicable bond premium.
4. Submit the required surety bond or approved alternative security device to the Florida Office of Financial Regulation.
5. Complete the annual Security Device Calculation Form and maintain the required security while licensed.
Learn more about Florida surety bond options available through NNA Surety.
Get Your Florida Money Transmitter Bond
For assistance with your Florida Money Transmitter Bond, call 855-215-2160 to speak with NNA Surety.