Rhode Island 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 engaging in regulated currency transmission activity in Rhode Island generally must hold the applicable state license. Required by the State of Rhode Island, the money transmitter bond helps ensure licensee's comply with state requirements and meet covered financial obligations.
Cost of the Rhode Island Money Transmitter Bond
The annual premium for a Rhode Island Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $50,000 to $500,000, estimated annual premiums range from approximately $500 to $5,000. Contact NNA Surety for a personalized quote based on your required bond amount and underwriting.
How the Rhode Island Money Transmitter Bond Works
The Rhode Island money transmitter bond protects the state and eligible claimants by guaranteeing the licensed currency transmitter will comply with applicable requirements and pay covered amounts that become due.
The bond involves three parties:
Principal: Licensed currency transmitter
Obligee: State of Rhode Island
Surety: Bonding company
A claim against the bond may be filed for covered obligations under Rhode Island law. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Rhode Island 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 Rhode Island currency transmission license.
Learn more about your Rhode Island surety bond options across the state.
Get Your Rhode Island Money Transmitter Bond
Stay compliant with Rhode Island licensing requirements by securing the required money transmitter bond. Call 855-457-2196 to speak with NNA Surety about current premium and bonding assistance.