North Carolina Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $150,000- $250,000 | $1,500- $2,500 | NMLS |
Money transmitter applicants in North Carolina must post a surety bond with the Commissioner, and licensees must maintain the required bond. The bond runs to the State for the benefit of claimants and secures faithful performance of covered obligations involving the receipt, handling, transmission and payment of money or monetary value.
Cost of the North Carolina Money Transmitter Bond
The annual premium for a North Carolina Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $150,000 to $250,000, estimated annual premiums range from approximately $1,500 to $2,500. Contact NNA Surety for a personalized quote based on your required bond amount and underwriting.
How the North Carolina Money Transmitter Bond Works
The North Carolina money transmitter bond protects eligible claimants by securing the licensed money transmitter’s faithful performance of covered obligations involving payment instruments, stored value and money transmission.
The bond involves three parties:
Principal: Licensed money transmitter
Obligee: State of North Carolina, for the benefit of claimants
Surety: Bonding company
A claim against the bond may be brought directly by a claimant or by the Commissioner on behalf of claimants for covered obligations. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the North Carolina Money Transmitter Bond
Follow these simple steps to get bonded with NNA Surety:
1. Complete the bond application.
2. Pay the applicable bond premium.
3. Receive the bond form via email.
4. Download and file the bond as required for your North Carolina money transmitter license.
Learn more about your North Carolina surety bond options across the state.
Get Your North Carolina Money Transmitter Bond
Stay compliant with North Carolina licensing requirements by securing the required money transmitter bond. Call 855-457-2196 to speak with NNA Surety about the bond amount that applies to your transmission volume and current premium.