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RI currency transmitter bonds.
$500 flat.

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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Required for a Rhode Island currency transmitter license under R.I. Gen. Laws § 19-14-2 and § 19-14-6
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Fixed price, fixed amount — $50,000 bond, $500, no quote process
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Multi-year terms available — set it up once for up to 3 years
A-ratedA.M. Best carriersInstantissuance at checkoutSoft pull onlynever a hard inquiry
Trusted by industry leaders
NYCEDC
BDG
Capital
McKinney
Terra
JLL
Triple Five
Georgetown
NYCEDC
BDG
Capital
McKinney
Terra
JLL
Triple Five
Georgetown
How it works

Three steps. One sitting.

The bond side of your Division of Banking license is the easy part. Here's the entire process:

NOW · ONLINE

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 entire application.

MINUTES, USUALLY

Pay & e-sign

This bond is checkout-priced at $500 flat, so most applicants finish and have the bond in the same sitting. At most, 1–2 business days.

SAME DAY

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.

About this bond

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.

R.I. Gen. Laws § 19-14-6R.I. Gen. Laws § 19-14-6 conditions a currency transmission license on a $50,000 surety bond running to the state, for the use of the state and of any person who may have a cause of action against the licensee. The statute lets the Division of Banking accept an alternative form of security if a bond isn't available at commercially reasonable cost — for the standard filing, we issue the $50,000 bond directly.

You need this bond if you're

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Applying for a Rhode Island currency transmitter license — the bond files with your NMLS application
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A money-transmission, wire-transfer, or money-order business operating or serving customers in Rhode Island
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Renewing your license and your current bond is expiring or non-renewing
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Adding Rhode Island to an existing multi-state currency transmission license through NMLS

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 →
FAQ

Common questions.

How much is the Rhode Island currency transmitter bond?The premium is $500 flat — set by our carrier's rate book for this bond, the same for every licensee, and the price you see is the checkout price. The $50,000 bond amount is set by R.I. Gen. Laws § 19-14-6, so there is no quote process.
Do I pay the $50,000?No. You pay $500. The $50,000 is the surety's maximum liability if a valid claim is made against the bond — not a deposit, and nobody holds your money.
How fast will I have the bond?Most applicants finish the application and have the bond in the same sitting — at most, 1–2 business days.
Is there a credit check?The application includes a credit consent, but it authorizes a soft credit pull only — a soft inquiry that never affects your score. No hard inquiry ever runs on this bond, and the $500 price does not change with the result.
Where do I file the bond?The executed bond and power of attorney file with your currency transmission license application or renewal through the Nationwide Multistate Licensing System (NMLS), which the Rhode Island Division of Banking uses to administer this license.
Related bonds

Other Rhode Island bonds.

RI Lender License Bond ($50,000)
The $50,000 bond a Rhode Island licensed lender files with the Division of Banking under § 19-14-6. 0.6% of the bond amount, $100 minimum.
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RI Loan Broker Bond ($20,000)
The $20,000 bond a Rhode Island loan broker files with the Division of Banking under § 19-14-6. 0.6% of the bond amount, $100 minimum.
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RI Small Loan Lender Bond ($10,000)
The $10,000 bond a Rhode Island small-loan lender files with the Division of Banking under § 19-14-6. 1% of the bond amount, $100 minimum.
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RI Debt Collector Bond ($50,000)
The $50,000 bond every Rhode Island debt collector files with the Division of Banking under § 19-14-6. $250 flat.
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Finish your Division of Banking license today.

$500 flat, soft pull only, bond often issued in the same sitting. Free until issued.

Start application
Your price$500
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