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Florida money services business bonds.
From $1,000.
Every money services business licensed under Chapter 560 files a corporate surety bond with the Office of Financial Regulation under Fla. Stat. § 560.209, in an amount set by commission rule between $50,000 and $2 million. This is that filing on Trisura paper. Pricing is 2% of the bond amount.
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Three steps. One sitting.
Licensure and renewals both stall on the security device, and the annual calculation form has a hard date. Here is the whole process:
Apply online
Your company details, your Florida county, the bond amount OFR set for your license, the term, and the effective date — plus a one-time consent to a soft credit pull.
Reviewed & issued
The credit consent authorizes a soft inquiry only, which never affects your score. Most clear the same day; six- and seven-figure amounts may draw a short underwriter review and a request for company financials.
File with OFR
Your executed bond and power of attorney arrive by email on the OFR-560-06 form, ready to file with the Office of Financial Regulation with your application or renewal. Wet-ink originals mailed on request — OFR generally wants one.
What it is and who needs it.
What the money services business bond actually guarantees
Florida licenses money services businesses — money transmitters, payment instrument sellers, check cashers and foreign currency exchangers — through the Office of Financial Regulation under Chapter 560, Florida Statutes and Rule Chapter 69V-560, F.A.C. Two financial-responsibility tests run alongside each other. First, net worth: a licensee must maintain at least $100,000, plus an additional $10,000 per Florida location beyond the first, up to a $2 million cap. Second, the security device — this bond.
Fla. Stat. § 560.209 sets the frame. The corporate surety bond is in an amount specified by rule, but may not be less than $50,000 or exceed $2 million, and the rule provides allowances for the financial condition, number of locations, and anticipated volume of the licensee. The bond runs to the state for the benefit of any claimants in this state against the applicant or its authorized vendors — so it reaches the conduct of the agents and authorized vendors operating under your license, not just your own. In lieu of the bond, or of part of the principal sum, a licensee may deposit collateral cash, securities or an approved alternative security device.
Two dates matter more than most people expect. The bond and any collateral deposit must remain in place for 5 years after the licensee ceases licensed operations in Florida — you do not get to cancel on the day you surrender the license. And the Security Device Calculation Form (OFR-560-07) is filed annually, no later than January 31, which is when a growing licensee usually discovers its required amount has moved. If a surety ever pays a claim it must notify the Office in writing within 10 days, by registered mail, identifying the claimant and the claim.
You need this bond if you are
One application, then a quick review.
These are the actual underwriting fields, including your Florida county for the OFR bond form and a one-time consent to a soft credit pull. Larger amounts may draw a short underwriter review.
Start the application →Common questions.
Other Florida bonds.
Get the OFR filing off your desk.
Premiums from $1,000, soft pull only, e-signed OFR-560-06 ready to file. Free until issued.