Vermont Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $100,000- $500,000 | $1,500- $15,000 | NMLs |
Businesses engaging in money transmission in Vermont generally must be licensed unless an exemption applies. Required by the state of Vermont, the money transmitter bond helps secure the faithful performance of the licensee and its authorized delegates with respect to money transmission.
Cost of the Vermont Money Transmitter Bond
The annual premium for a Vermont Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $100,000 to $500,000, estimated annual premiums range from approximately $1,500 to $15,000. Contact NNA Surety for a personalized quote based on your required bond amount and underwriting.
How the Vermont Money Transmitter Bond Works
The Vermont money transmitter bond provides financial protection for the State and eligible claimants by guaranteeing the licensee and its authorized delegates meet covered obligations related to money transmission.
The bond involves three parties:
Principal: Licensed money transmitter
Obligee: State of Vermont
Surety: Bonding company
A claim against the bond may be filed for covered obligations involving the licensee or its authorized delegates. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Vermont 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 Vermont money transmission license.
Learn more about your Vermont surety bond options across the state.
Get Your Vermont Money Transmitter Bond
Stay compliant with Vermont licensing requirements by securing the required money transmitter bond. Call 855-457-2196 to speak with NNA Surety about the required bond amount and current premium.