Nebraska Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $50,000- $500,000 | $500- $5,000 | NMLS |
Businesses applying for or holding a Nebraska money transmission license must maintain a surety bond. The required bond is the greater of $100,000 or 100% of the licensee's average daily Nebraska money transmission liability for the most recently completed three-month period, subject to a $500,000 maximum.
Cost of the Nebraska Money Transmitter Bond
The cost of a Nebraska money transmitter bond varies based on the required bond amount and underwriting. NNA Surety’s general money-transmitter guidance states that pricing considers factors including business finances and history and the principal owner’s personal credit rating. Strong applicants may qualify for premiums starting around 1.5% of the required bond amount. Complete the quote form to begin the required bonding process.
How the Nebraska Money Transmitter Bond Works
The Nebraska money transmitter bond protects claimants by providing financial security for a licensed money transmitter’s covered obligations under the Nebraska Money Transmitters Act.
The bond involves three parties:
Principal: Nebraska money transmitter licensee
Obligee: State of Nebraska
Surety: Bonding company
Claimants may file a claim or bring suit directly on the bond, and the Director may also act on behalf of claimants. The principal is generally responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Nebraska Money Transmitter Bond
Follow these general steps to secure the required bond:
1. Determine your required bond amount using Nebraska’s current average-daily-money-transmission-liability formula.
2. Complete the surety’s application and underwriting requirements.
3. Pay the quoted premium and receive the executed bond.
4. File or maintain the bond as required by the Nebraska Department of Banking and Finance.
Get Your Nebraska Money Transmitter Bond
Meet Nebraska’s money transmitter licensing requirement with the bond amount applicable to your average daily Nebraska money transmission liability. Contact NNA Surety for current underwriting and premium information.