South Carolina money transmitter bonds.
From $1,000.

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A South Carolina money transmission licensee must maintain security for the Attorney General under S.C. Code Ann. § 35-11-215: the greater of $100,000 or 100% of its average daily money transmission liability in the State for the most recent three-month period, up to $500,000. The premium is 1% of the bond amount.

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Required of every SC money transmission licensee under S.C. Code 35-11-215

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Amount tracks your average daily transmission liability — $100,000 floor, $500,000 cap

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1% of the bond amount — your exact price appears at the application

1% rate$1,000 at the $100,000 minimumInstantissuance at checkoutSoft pull onlynever a hard inquiry

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Price

How much does a South Carolina money transmitter bond cost?

1% of the bond amount, from $1,000 at the $100,000 minimum. Enter your amount in the calculator for the exact price.

How it works

Three steps. One sitting.

No underwriting queue on the standard money transmitter bond — enter your amount, pay, and file through NMLS. Here is the whole thing:

NOW · ONLINE

Apply online

Company details, the security amount your license requires, an effective date, and a term. That is the application — any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

Your price is 1% of the bond amount, shown before you pay — and the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.

SAME DAY

File through NMLS

Your executed bond arrives by email, ready to upload to your NMLS record and file with the Attorney General's Money Services Division. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

South Carolina licenses money transmitters under the South Carolina Uniform Money Services Act, S.C. Code Ann. § 35-11-100 et seq. The Act names the Attorney General as the Commissioner, and his Money Services Division runs licensing and examination for transmitters and currency exchange institutions.

Section 35-11-215 requires security in a form acceptable to the Commissioner — a surety bond, letter of credit, or similar security — maintained for his benefit. The amount is the greater of $100,000 or 100% of the licensee's average daily money transmission liability in this State for the most recently completed three-month period, up to a maximum of $500,000. A licensee whose tangible net worth exceeds ten percent of total assets may instead maintain a $100,000 surety bond.

It is not insurance for you — the security stands behind your obligations to the people whose money you move, and if the surety pays a claim you repay the surety. Because the amount is recalculated against a rolling three-month liability figure, expect the required security to move with your volume; we track the term and send renewal notices 60 and 30 days out.

S.C. Code Ann. § 35-11-215Section 35-11-215 of the South Carolina Uniform Money Services Act requires a money transmission licensee to provide and maintain security — a surety bond, letter of credit, or other similar security in a form acceptable to the Commissioner — for the Commissioner's benefit. Under subsection (B)(1) the amount is the greater of one hundred thousand dollars or an amount equal to one hundred percent of the licensee's average daily money transmission liability in this State calculated for the most recently completed three-month period, up to a maximum of five hundred thousand dollars. Subsection (B)(2) allows a licensee whose tangible net worth exceeds ten percent of total assets to maintain a surety bond of one hundred thousand dollars. Section 35-11-105(7) identifies the Commissioner as the Attorney General.

You need this bond if you're

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Applying for a South Carolina money transmission license through NMLS

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Renewing an existing transmitter license — the security must stay continuously in place

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Growing your South Carolina transmission volume past the $100,000 security floor

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Operating a currency exchange business the Money Services Division licenses under the same Act

After you buy

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 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.

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 through NMLS. Your executed bond arrives by email, ready to upload to your NMLS record and file with the Attorney General's Money Services Division. Wet-ink original mailed on request.

What sets the price

The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not 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, the security amount your license requires, an effective date, and a term.

Start the application →

FAQ

Common questions.

How much is the South Carolina money transmitter bond?The premium is 1% of the bond amount. The amount itself comes from § 35-11-215 — the greater of $100,000 or 100% of your average daily money transmission liability in South Carolina for the most recent three-month period, capped at $500,000. Your exact price appears at the application, before you pay.

How is my required security calculated?Take your average daily money transmission liability in South Carolina over the most recently completed three-month period. Your security is 100% of that figure, with a $100,000 floor and a $500,000 ceiling. A licensee whose tangible net worth is above ten percent of total assets may instead maintain a flat $100,000 bond.

Do I pay the full bond amount?No. You pay the premium — 1% of the bond amount. The bond amount is the surety's maximum liability if a valid claim is made against the bond, not a deposit, and nobody holds your money.

Is there a credit check?Yes: one soft credit pull, never a hard inquiry, and it never affects your score. The rate stays 1% of the bond amount either way.

Who requires the bond, and where do I file it?The South Carolina Attorney General is the Commissioner under the Uniform Money Services Act, and his Money Services Division licenses money transmitters. The security is maintained for the Commissioner's benefit and filed with your license record through NMLS.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

Related bonds

Other South Carolina bonds.

Nearby states

The same bond in nearby states.

Price and requirements checked on the carrier’s application, 8 October 2026. Page updated 9 October 2026.

File your transmitter security today.

1% of the bond amount, issued the moment you pay, soft pull only. Free until issued.

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