New York money transmitter bonds.
$5,000 flat.
New York licenses transmitters of money under Article 13-B of the Banking Law, and § 643 conditions the issuance and retention of that license on a corporate surety bond filed with the Superintendent of Financial Services, no less than $500,000 for New York instruments. Ours is $5,000 flat.
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How much does a New York money transmitter bond cost?
$5,000 at the $500,000 amount, the same for every applicant.
Three steps. One sitting.
The § 643 bond is a filing, not an underwriting project. Here is the entire process:
Apply online
Company details, years in business, an effective date, and a term. That is the application — any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at $5,000 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the Superintendent
Your executed bond arrives by email, ready to file with the Department of Financial Services for your money transmitter license. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
New York licenses transmitters of money under Article 13-B of the Banking Law, administered by the Department of Financial Services. Section 643 makes a corporate surety bond a condition of both the issuance and the retention of the license: the applicant files one or more bonds with the Superintendent, in a form satisfactory to the Superintendent, issued by a company authorized to do business in this state.
One bond runs in favor of the Superintendent, and its proceeds are a trust fund for the exclusive benefit of the purchasers and holders of the New York instruments you sell — protecting them against loss from your insolvency, bankruptcy, or other financial impairment. The principal amount is no less than $500,000 for New York instruments, and no less than $750,000 where traveler’s checks are involved.
It is not insurance for you — if the surety pays a claim, you repay the surety. The Superintendent may require the bond to be increased where that is necessary or desirable to protect purchasers and holders, and cancellation runs only on notice to the Superintendent, effective not less than ten days after receipt. We track the term and send renewal notices 60 and 30 days out.
You need this bond if you are
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 with the Superintendent. Your executed bond arrives by email, ready to file with the Department of Financial Services for your money transmitter license. 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 — company details, years in business, an effective date, and a term. That is the application.
Start the application →Common questions.
Other New York bonds.
The same bond in nearby states.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
File your § 643 bond today.
$5,000 flat, issued the moment you pay, soft pull only. Free until issued.