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Hawaii Money Transmitters License Bond

How much does a money transmitter license bond cost in Hawaii?

The Hawaii Department of Commerce and Consumer Affairs requires money transmission professionals to post license bonds in order to legally perform services as a money transmitter within the state of Hawaii. Prior to contacting a surety bond specialist, applicants must contact the state in order to find out the exact bond amount they’re required to have because premiums are determined on a case-by-case basis. This specific bond amount will range anywhere between $1,000 and $500,000.

These bonds are subject to underwriting, meaning your financials will be used to help determine the exact amount you’ll pay for the bond. Our team of specialists at SuretyBonds.com make the bonding process quick and easy for you. Get a free bond quote now!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Money Transmitters License Bond Varies Starts at 1.5% 3-9% 10%+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get bonded, we’re ready to help. Call SuretyBonds.com at 1 (800) 308-4358 or submit a bond request form now. You can typically expect to receive a free no-obligation bond quote within 1 business day of submitting an application.

Why do I need this bond?

Hawaii money transmitter license bonds are put in place to ensure that principals (money transmitter professionals) perform services in accordance with Chapter 489D of the Hawaii Money Transmitters Act and all other relevant laws to the business of money transmission in Hawaii. If the principal conducts business in an unethical or dishonest manner, consumers will not be held responsible for any financial damages committed by the principal. He or she will then be responsible for reimbursing the surety for any expenses paid out within a timely and professional manner.

Are you ready to post a money transmitter license bond? Click here to begin our simple bonding process!

What’s the fine print?

Hawaii money transmitter bonds run in full force and effect unless otherwise canceled. If the surety or principal decide to terminate the bond at any time, a 30-day written notice must be submitted to the obligee announcing said cancellation.

How to become a money transmitter in Hawaii

To become a licensed money transmitter in Hawaii, applicants must submit an application prescribed by the division inclusive of the following information:

  • exact name used by the applicant
  • history of the applicant’s material litigation and criminal convictions for the past 5 years
  • description of business activities
  • list of applicant’s proposed authorized delegates
  • locations where the applicant and his/her delegates intend to do business
  • any other information that may be required by the Commissioner

In addition to filing an application, the applicant must submit all required licensing and filing fees at the time of application.

In order to obtain a money transmitter license in Hawaii, the applicant must have a minimum net worth of $1,000.

Don’t wait to get bonded. Begin our simple bonding process today!

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Money Transmitter License Bond Form

Hawaii Money Transmitter License - Description

Hawaii Money Transmitter License Application Checklist

Chapter 489D - Money Transmitter Act

Department of Commerce and Consumer Affairs - Money Transmitter Forms

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