New Hampshire Money Transmitter Bond Overview
- Purpose: To ensure money transmitters uphold laws and regulations
- Who Needs It: All money transmitter licensees in New Hampshire
- Regulating Body: The NH Banking Department, Consumer Credit Division
- Bond Amount: $100,000
- Minimum Price: $2,000
What Is a New Hampshire Money Transmitter Bond?
A New Hampshire money transmitter surety bond ensures that money transmitters adhere to industry laws and regulations.
It protects consumers by ensuring that companies offering money transfer services operate legally. The bond offers consumer financial protection for any acts of malpractice such as:
- Failing to meet state standards
- Violating federal money transmission laws
- Making false or misleading reports to the commissioner
- Engaging in dishonest business practices
What Are the Bond Coverage Requirements?
To get your New Hampshire license, you’ll a money transmitter bond worth the greater of:
- $100,000, or
- your average daily money transmission total for the most recent 3-month period.
The maximum bond amount is $500,000.
How Much Do Money Transmitter Bonds Cost in New Hampshire?
The state requires a minimum $100,000 surety bond coverage and premium rates start around 2%. For example, applicants with strong financials typically pay $2,000 for a $100,000 money transmitter bond.
Exact prices vary depending on the bond amount, credit score, and sometimes financial statements. Apply for a personalized quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Can I Finance the Premium?
Some of our surety markets do offer premium financing for qualified applicants on this bond. Once you receive your quote, ask your SuretyBonds.com representative about financing options to spread your upfront payment over multiple monthly installments.
How Does a New Hampshire Money Transmitter Bond Work?
A surety bond is a financial contract between three parties that holds money transmitters liable for their business practices.
| Bond Party | Description |
|---|---|
| 1) Principal | The bonded money transmitter entity |
| 2) Obligee | The New Hampshire Banking Department |
| 3) Surety | The issuing surety provider |
Under the bond, you are responsible for complying with state and federal money transmission laws, particularly NH RSA 399-G.
How Do I Get a Money Transmitter Bond in New Hampshire?
Follow these steps to get your New Hampshire money transmitter bond:
- Complete the quote request form on this page
- Receive your personalized quote within one business day
- Provide additional documentation (if needed)
- Checkout online at your convenience
Please note that you may also be required to submit business and/or personal financial statements to complete your application.
How Do I File My Bond?
We’ll upload the electronic surety bond directly to NMLS for you. You can find a copy for your records in NMLS or in our follow-up email.
How Do I Renew My Money Transmitter Bond?
If you extend your money transmitter license for multiple years, you’ll also need to renew your surety bond. The bond expires one year after the purchase date.
Your surety company or agency will provide your renewal premium invoice, which you can use to extend the term of your existing bond. Make sure the bond amount is still correct, and pay the invoice — that’s it!
Can I Make Changes to My Bond?
If your required bond amount has increased or your name or address has changed, contact your surety provider. SuretyBonds.com issues bond rider documents, which amend your existing bond for no charge.
We’ll review your request to determine if you are eligible for a rider or if a new bond form is needed.
How to Get a Money Transmitter License in New Hampshire
New Hampshire money transmitter licenses are processed online through the Nationwide Multistate Licensing System (NMLS).
You’ll need to provide in-depth information about your business and financials, including the following:
- MU1 and MU2 application forms
- $100,000 surety bond
- Audited financial statements demonstrating net worth
- Anti-Money Laundering policy
- FBI background checks and credit reports for all control persons
There is also an exam requirement. You’ll need to pass an examination every 24 months, at minimum.
If you have any questions along the way, contact the Banking Department licensing staff at (603) 271-8675.
How Much Does It Cost to Register as a Money Transmitter?
New Hampshire is one of the more affordable states in terms of initial licensing fees. The Department of Banking charges a $500 money transmitter application fee in addition to the $120 NMLS processing fee.
| Fee Type | Amount |
|---|---|
| Application Fee | $500 |
| NMLS Processing Fee | $120 |
| Credit Check Fee | $36.25/control person |
| Surety Bond Premium* | $2,000+ |
*Surety bond premiums vary based on credit score and sometimes business financials.
