Wisconsin Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $50,000 - $500,000 | $750 - $15,000 | NMLS |
Businesses licensed as money transmitters in Wisconsin must maintain a surety bond. The required security is the greater of $100,000 or 100% of the licensee's average daily Wisconsin money transmission liability for the most recently completed three-month period, subject to a $500,000 maximim.
Cost of the Wisconsin Money Transmitter Bond
The annual premium for a Wisconsin 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 $750 to $15,000. Complete the quote form to begin the required bonding process.
How the Wisconsin Money Transmitter Bond Works
The Wisconsin money transmitter bond provides financial security supporting the licensee’s obligations under Wisconsin’s money transmission law and helps protect consumers if covered obligations are not fulfilled.
The bond involves three parties:
Principal: Wisconsin money transmitter licensee
Obligee: State of Wisconsin
Surety: Bonding company
How to Get the Wisconsin Money Transmitter Bond
Follow these general steps to secure the required bond:
1. Determine the required bond amount using Wisconsin’s current average-daily-money-transmission-liability formula.
2. Complete the surety’s application and underwriting requirements.
3. Pay the quoted premium and obtain the electronic surety bond.
4. Submit and maintain the bond through NMLS as required by the Wisconsin Department of Financial Institutions.
Get Your Wisconsin Money Transmitter Bond
Meet Wisconsin’s money transmitter licensing requirement with the bond amount applicable to your average daily Wisconsin money transmission liability. Contact NNA Surety for current underwriting and premium information.