NJ money transmitter bonds.
1% of the bond amount.
The same New Jersey money transmitter security device required by N.J.S.A. 17:15C-8, executed for an individual or partnership applicant. The Commissioner prescribes the amount — not less than $100,000 and not more than $1,000,000, with foreign money transmitters on a volume schedule from $25,000 — and the premium is 1% of the bond amount, $100 minimum. Any credit screen is a soft pull only — it never affects your score.
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Apply to filed in one sitting.
No quote round-trip on the money transmitter security device — enter your amount, pay, and file it with your DOBI application. Here is the whole thing:
Apply online
Applicant details, the bond amount the Commissioner prescribed, and an effective date. Any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The premium is 1% of the bond amount, $100 minimum — priced at checkout, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
File it with DOBI
Your executed bond arrives by email, ready to accompany your money transmitter license application or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the security device covers
New Jersey licenses money transmission under the Money Transmitters Act, N.J.S.A. 17:15C-1 et seq. Each application must be accompanied by a surety bond, irrevocable letter of credit or similar security device acceptable to the Commissioner of Banking and Insurance, in an amount prescribed by regulation of not less than $100,000 and not more than $1,000,000. This Propeller form executes that bond for an individual or partnership applicant.
The device runs to the State for the benefit of any person injured by a wrongful act, default, fraud or misrepresentation of the licensee — including its authorized delegates and employees — and secures faithful performance of the licensee's obligations in receiving, handling, transmitting and paying money. The surety's aggregate liability never exceeds the principal sum of the bond.
Foreign money transmitters follow a separate schedule tied to annual New Jersey volume from the most recent annual report, beginning at $25,000 for volume up to $500,000. Cancellation requires 30 days' written notice to the Commissioner, so we track your term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — applicant details, the bond amount, and an effective date.
Start the application →Common questions.
Other New Jersey bonds.
File your money transmitter bond today.
1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.