Rhode Island currency transmitter bonds.
$500 flat.
Looking for the Rhode Island small loan lender bond?
Rhode Island licenses anyone providing currency transmission for a fee through the Division of Banking, and that license runs on a $50,000 surety bond under R.I. Gen. Laws § 19-14-6. Ours is $500 flat — the price you see is the checkout price. The application includes a credit consent, but it authorizes a soft credit pull only — a soft inquiry that never affects your score.
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How much does a Rhode Island currency transmitter bond cost?
$500 at the $50,000 amount, the same for every applicant.
Three steps. One sitting.
The bond side of your Division of Banking license is the easy part. Here's the entire process:
Apply online
Business details, an effective date, and a soft-pull credit consent — a soft inquiry only, so it never affects your score. That's the application.
Pay & e-sign
This bond is checkout-priced at $500 flat, so most applicants finish and have the bond in the same sitting. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
File with the Division of Banking
Your executed bond and power of attorney arrive by email, ready to file with your currency transmission license application or renewal through NMLS. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Rhode Island requires a license from the Division of Banking (within the Department of Business Regulation) to provide currency transmission — moving money for a fee or other consideration, including wire transfers and money-order sale — under R.I. Gen. Laws § 19-14-2. The license runs on a surety bond that R.I. Gen. Laws § 19-14-6 sets at $50,000, running to the State of Rhode Island.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of Rhode Island (the obligee), with any person who transacts with the licensee as a protected party. The bond is conditioned on the licensee faithfully conforming to Title 19 and the rules made under it, and it stands behind money owed to the state or to a harmed customer if the licensee doesn't pay.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay on file for as long as you hold the license, so we track the term and send renewal notices 60 and 30 days out to keep your $50,000 filing continuous.
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 $50,000 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 Division of Banking. Your executed bond and power of attorney arrive by email, ready to file with your currency transmission license application or renewal through NMLS. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $500 at the $50,000 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 — business details, an effective date, and a soft-pull credit consent that never affects your score.
Start the application →Common questions.
Other Rhode Island bonds.
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Price and requirements checked on the carrier’s application, . Page updated .
Finish your Division of Banking license today.
$500 flat, soft pull only, bond often issued in the same sitting. Free until issued.