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North Carolina Money Transmitter Bond

How much does a money transmitter bond cost in North Carolina?

In order to legally conduct business in North Carolina, money transmitters must post a surety bond. North Carolina’s Office of the Commissioner of Banks requires bond coverage in the amount of at least $150,000. If the money services business operates from more than one location, the required bond amount will increase by $5,000 per location, not to exceed $250,000.

The amount you’ll pay for your bond depends on several factors, including your personal financial history. Let an expert help determine your bond cost by requesting your free bond quote today!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Money Transmitter 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.

Fill out our online bond form to get your free, no-obligation bond quote!

Why do I need this bond?

North Carolina money transmitter bonds protect customers in the event that the principal (money transmitters) fails to comply with the North Carolina Money Transmitters Act. In the event that the principal violates any applicable regulations, the surety will cover damages to consumers. The principal must then reimburse the surety, and may be at risk of having its license suspended or revoked.

Take that next step toward becoming licensed by contacting us for your free surety bond quote! We are committed to getting you the best rate for your bond.

What’s the fine print?

This bond remains in full force and effect until cancellation, which requires 90 days’ written notice to the Commissioner. The surety remains liable for claims arising under this bond for up to 5 years following its cancellation, unless released from liability by the Commissioner in writing.

How to become a money transmitter in North Carolina

North Carolina money transmitters must become licensed before conducting business in the state. Licensing requirements include the following:

  • $500 non-refundable application and investigation fee
  • $1,000 initial license fee
  • applicant’s most recently audited financial statement
  • net worth of at least $100,000, not to exceed $250,000

Check with the Commissioner of Banks for a full list of requirements.

Get bonded quickly, easily and accurately with help from our specialists! Submit a bond request or call 1 (800) 308-4358 to get started.

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North Carolina Money Transmitters Act

North Carolina Application for Money Transmitter License

Surety Bond Form for Money Transmitters in North Carolina

North Carolina Commissioner of Banks: Money Transmitters Overview

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