New York Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $500,000- $1,000,000 | $5,000- $10,000 | DFS |
Summary of Requirement
New York mandates a surety bond from $500,000 to $1,000,000 for money transmitter licenses. Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Money Transmitter License.
Regulator Information
New York Department of Financial Services (DFS)
Phone: (212) 709-5507
Website: https://www.dfs.ny.gov/apps_and_licensing/money_transmitters