Connecticut money transmitter bonds.
$5,000 flat.
Connecticut requires a money transmission licensee to file a surety bond with the Department of Banking under Conn. Gen. Stat. § 36a-602. This is the $500,000 tier, filed by a licensee whose average weekly Connecticut money transmissions ran between $300,000 and $500,000 over the prior twelve months. Ours is $5,000 flat.
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How much does a Connecticut money transmitter bond cost?
$5,000 at the $500,000 amount, the same for every applicant.
Three steps. One sitting.
A money transmitter bond at this tier is one of the more standard filings we issue. Here's the entire process:
Apply online
Business details, your NMLS license information, and an effective date. That is the application — no financial statements collected by us.
Pay & e-sign
This bond tier is among the thousands of bond types that issue right after purchase. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
File through NMLS
Your executed bond and power of attorney arrive by email, ready to upload to your NMLS record for the Connecticut Department of Banking. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Connecticut licenses money transmitters under the Money Transmission Act, Conn. Gen. Stat. §§ 36a-595 to 36a-612, with § 36a-597 requiring the license and § 36a-602 requiring the surety bond (or, as the statute permits, an equivalent deposit of securities in lieu of a bond). The Department of Banking steps the required amount up with volume: $300,000 under $300,000 in average weekly Connecticut transmissions, $500,000 for a licensee between $300,000 and $500,000, and $1,000,000 above that, each measured over the most recent twelve-month period ending June 30.
It's a three-party arrangement: the licensee (the principal), the surety carrier, and the State of Connecticut, acting through the commissioner (the obligee), with Connecticut consumers who transact with the licensee as the protected parties. If the licensee fails to properly account for or pay over money it transmits, a harmed party — or the commissioner on their behalf — can pursue a claim against the bond up to its penal sum.
It is not insurance for the licensee — if the surety pays a claim, the licensee repays the surety. The bond stays required for as long as the license is active, and Connecticut requires it to remain in effect for a period after a license is surrendered, revoked, suspended, or expires, so we track renewal alongside your NMLS license cycle.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $500,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File through NMLS. Your executed bond and power of attorney arrive by email, ready to upload to your NMLS record for the Connecticut Department of Banking. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $5,000 at the $500,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — the credit consent checkbox only authorizes a soft pull, never a hard inquiry.
Start the application →Common questions.
Other Connecticut bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
File your Connecticut money transmitter bond today.
$5,000 flat, soft pull only, bond often issued in the same sitting. Free until issued.