1 (800) 308-4358

Mon-Fri 12am-12pm UTC

Closed Monday 5/30

Choose Bond
Enter Info
Receive Quote
generic bond icon

Rhode Island $50,000 Money Transmitter Bond

Price Varies / 1 year term

SECURE

Backed by SSL, our online bonding process is secure. We are committed to your privacy.

BEST PRICES

We shop the top surety markets to find you the best rate.

FAST

We’ve streamlined the bonding process to make your experience as fast and easy as possible.

How much does a money transmitter bond cost in Rhode Island?

The Rhode Island Department of Business Regulation requires money transmission professionals to post $50,000 surety bonds to legally work within the state.

This specific bond type is subject to underwriting, meaning the amount you’ll pay depends on a review of your personal credit report as well as your required bond amount. Don’t worry about bad credit affecting your chance of posting a bond. The experts at SuretyBonds.com make the bonding process fast and easy for all applicants. Request your free bond quote now!

Bond Type
$50,000Money Transmitter Bond

If you’re ready to become bonded quickly, easily and accurately, call SuretyBonds.com at 1 (800) 308-4358 or submit a bond request. We can typically provide your free, no-obligation bond quote within 1 business day of submitting an application.

Why do I need this bond?

Rhode Island money transmitter surety bonds guarantee that principals (money transmission professionals) conduct business in compliance with Chapter 19-14 of the Rhode Island General Laws and all other laws applicable to the business of money transmission. If fraudulent activity occurs as a result of malpractice conducted by the principal, consumers will not face any financial harm. Acts of malpractice include:

  • Committing fraud, engaging in dishonest activity or making misrepresentation
  • Violation of any provision of Title 19 which includes Chapter 19-14
  • Failure to comply with any demand, ruling, order or requirement of the director of the Department of Business Regulation made within the authority of Title 19

Ready to get bonded? Start here!

What’s the fine print?

Rhode Island money transmission surety bonds expire on December 31 and can be renewed with a $360 fee. The applicant must have a minimum net worth of $50,000 to apply for this bond.

How to become a money transmitter in Rhode Island

To become a licensed money transmitter in Rhode Island, applicants must provide the following information on the license application:

  • Name and address of the applicant’s business
  • Names and addresses of each member, director and principal officer if the business is a partnership, association, corporation or other form of business organization
  • Description of the activities of the applicant

In addition, applicants must submit a $180 application/investigation fee.

Upon the filing of the application, a mandatory investigation will be conducted to determine if all required criteria are met by the applicant.

Ready to get started?

Call 1 (800) 308-4358 to talk with a Surety Expert