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Oregon Money Transmitter Bond

How much does a money transmitter bond cost in Oregon?

The Oregon Division of Finance & Corporate Securities requires money transmission professionals to post surety bonds in order to legally perform services as a money transmitter within the state of Oregon. Prior to contacting a surety bond specialist, prospective money transmitters should contact the state in order to find out the exact bond amount they’ll need to post. This specific bond amount will range anywhere between $25,000 and $150,000 for the principal location of business. The amount will increase in increments of $5,000 for each additional business location the principal chooses to conduct money transmission services at.

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 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.

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. 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?

Oregon money transmitter bonds exist to ensure that principals (money transmitter professionals) perform services in accordance with Chapter 717 of the Oregon Revised Statutes, the Oregon Money Transmitters Act and all other laws applicable to the business of money transmission in Oregon. If the principal conducts business in a dishonest manner, consumers will not be held responsible for any financial damages they did not commmit themselves. The principal 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 bond? Click here to begin!

What’s the fine print?

Oregon money transmitter bonds run continuously unless otherwise cancelled. If the surety or principal decides to terminate the bond at any time, a 30 days written notice must be submitted to the obligee announcing said cancellation.

How to become a money transmitter in Oregon

To become a licensed money transmitter in Oregon, applicants must submit the following pieces of information or documentation at the time of application:

  • application package perscribed by the Division
  • financial statement proving principal has a net worth of at least $100,000
  • proof of surety bond security device
  • $1,000 nonrefundable application fee

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

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Oregon Money Transmitter Bond Form

Chapter 717 - Money Transmission

Application for Money Transmitter License

Licensed Money Trabsmitters - FAQs

Oregon Division of Finance and Corporate Securities

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