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Pennsylvania Money Transmitter Bond

How much does a money transmitter bond cost in Pennsylvania?

The Pennsylvania Department of Banking and Securities requires money transmitters to post a surety bond to become licensed and operate legally in the Commonwealth. The typical bond amount required is $1,000,000.

The amount you’ll pay for your bond will vary pending a review of your personal financial history. Find out your bond cost by requesting your free 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.

Ready to become a licensed money transmitter in Pennsylvania? Get started by calling 1 (800) 308-4358 or completing our online bond request form.

Why do I need this bond?

This bond ensures that money transmitter professionals comply with the stipulations set forth in the Pennsylvania Money Transmitter Act, Chapter 19 of Title 10 of the Pennsylvania Code. The bond protects money transmitter customers in the event that the principal (the money transmitter) violates any rules or regulations of the Money Transmitter Act.

Begin the bonding process and fill out our online bond form to receive your free quote!

What’s the fine print?

Pennsylvania money transmitter bonds remain in full force and effect until cancellation. This bond may be canceled with written notice, sent to the Pennsylvania Department of Banking and Securities 30 days before the effective cancellation date.

How to become a money transmitter in Pennsylvania

Pennsylvania requires money transmitter professionals to become licensed in order to legally conduct business. Licensing requirements include:

  • At least five years’ experience in business
  • Minimum net worth of $500,000
  • $1,000 non-refundable licensing application fee

Check with the Commonwealth of Pennsylvania for a full list of requirements.

If you’re ready to become a licensed money transmitter in Pennsylvania, contact a surety specialist and begin the bonding process today!

Ready to get started?

Get a FREE Money Transmitter Bond Quote Today!

Pennsylvania Money Transmitter Forms

Pennsylvania Money Transmitter Act

NMLS New Application Checklist for Pennsylvania Money Transmitter License

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