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Wyoming Money Transmitter Bond

How much does a money transmitter bond cost in Wyoming?

The Wyoming Division of Banking requires money transmitters in the state to post a surety bond as part of their licensing requirements. The bond coverage amount must be at least $10,000 and no more than $500,000, as determined by the Commissioner. Applicants should verify their bond amount with the state prior to requesting their bond quote.

The cost of these bonds is determined by several variables, including a review of your financials. Don’t worry if your credit is less-than-stellar - call us at 1 (800) 308-4358 and let a surety bond expert answer all of your questions.

SuretyBonds.com wants to get you the best quote for your bond. Get started by filling out our online bond form 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 purchase your money transmitter bond? Submit a bond request form! Our experts can typically get your quote in as little as 1 business day.

Why do I need this bond?

Money transmitter bonds ensure that principals (money transmitter professionals) comply with the Money Transmitter Act in Title 40, Chapter 22 of the Wyoming Statutes. Violations include:

  • Net worth becoming inadequate or the licensee becomes insolvent
  • Licensee refuses to permit commissioner to conduct permitted investigations
  • Licensee conducts business in an unsafe or unsound manner

In the event that the principal violates the terms of the act, claims can be filed against the surety bond. The bond will pay out for damages up to the full amount of its coverage, and the principal must reimburse the bond for any paid claims.

Click here to begin the bonding process!

What’s the fine print?

This bond will remain in effect until cancellation. It can be canceled with 30 days’ written notice to the Commissioner of Banking for the state of Wyoming.

How to become a money transmitter in Wyoming

Money transmitters in Wyoming must obtain a license before they conduct business in the state. Some of the licensing requirements include:

  • $1,500 non-refundable application fee
  • Net worth of at least $25,000

A complete list of licensing requirements can be found in the Important Links section under the Nationwide Mortgage Licensing System & Registry (NMLS) requirements.

Kickstart the licensing process with our online bond request form or call 1 (800) 308-4358 to speak with a surety bond expert.

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Get a FREE Money Transmitter Bond Quote Today!

Wyoming Money Transmitter Application Forms

Wyoming Statutes Title 40

NMLS Licensing Requirements for Wyoming Money Transmitters

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