OK money transmission bonds.
$5,000 flat.
This is the $500,000 security a licensee files with the Oklahoma State Banking Department when it does both money transmission and sale of checks — the combined figure the Department's own application calls for, rather than the smaller delegate-count bond a transmitter alone posts. Ours is $5,000 flat, the price you see is the checkout price, and the bond issues the moment you pay. The credit screen this application authorizes is a soft pull only, and it never affects your score.
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Three steps. One sitting.
Your licence file needs audited financials, a delegate schedule and a net-worth showing. The bond is the part that does not wait on anyone:
Apply online
Your entity type, business details, years in business, and an effective date. No audited statements are attached to the bond application — those go to the Department, not to us.
Pay & e-sign
The price is final before you pay, and the executed bond and power of attorney generate on the spot. Any credit screen here is a soft pull that leaves your score untouched.
File with the Banking Department
The Department wants an original of the bond with your application or renewal, plus evidence the surety is authorised and in good standing in Oklahoma. Wet-ink original mailed on request.
What it is and who needs it.
What the money services bond guarantees
A money transmitter holds other people's money in the gap between "sent" and "received," and a seller of checks or money orders holds it in the gap between "sold" and "presented." Neither gap is insured by the FDIC. The bond is what stands in that gap: it runs to the Oklahoma State Banking Department and to the money transmission customers of the licensee and its authorized delegates, for the obligations incurred on their transactions.
The condition is specific. If the licensee and its delegates faithfully perform their duties under the Act and under their customer agreements, and faithfully account for and promptly pay over every sum due to whoever is entitled to it, the obligation is void — otherwise it stands. The bond continues for the entire term of the licence and automatically renews with each licence renewal unless the surety cancels; a surety may conditionally cancel only on at least 30 days' written notice to the Oklahoma Banking Commissioner, and is not discharged from liability that accrued before termination. Aggregate liability never exceeds the penal sum, however many claimants there are.
The bond is not the whole financial test. The Department also requires a minimum net worth that scales with your footprint — $275,000 at 1 to 50 locations, $500,000 at 51 to 300, $1,500,000 at 301 to 800, and $3,000,000 above 800 — demonstrated at application and at every renewal by a current audited financial statement no more than 12 months old. A licensee may post an irrevocable letter of credit or deposit acceptable securities with the Department instead of a bond; both tie up capital the bond does not.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields. The application carries a credit consent, and it authorizes a soft inquiry only.
Start the application →Common questions.
Other Oklahoma bonds.
The bond is the fast part of the licence file.
One short application, a soft pull at most, and an executed $500,000 bond ready for the Banking Department. Free until issued.