Section 6.2-1951 of the Code of Virginia, added by the Money Transmission Modernization Act and effective July 1, 2026, requires an applicant for a money transmission license to provide, and a licensee at all times to maintain, security consisting of a surety bond in a form satisfactory to the Commission or, with the Commission's approval, a deposit in lieu of a bond. The amount is the greater of $100,000 or 100 percent of the applicant's or licensee's average daily money transmission liability in the Commonwealth calculated for the most recent quarter, up to a maximum of $1 million — or $100,000 where tangible net worth exceeds 10 percent of total assets. The security must remain in effect for a statutory tail period after the licensee ceases money transmission in Virginia. Chapter 19.1 replaced the repealed § 6.2-1904.

What the bond actually guarantees

You need this bond if you're

Your Virginia money transmitter bond issues the moment you pay. The executed bond arrives by email, ready to file with the Bureau of Financial Institutions.

VA Money Transmitter Bond: 1% of the bond amount, $1,000 at the $100,000 statutory minimum. The Va. Code § 6.2-1951 security, filed through NMLS.

Money Order Seller and Money Transmitter Bond (NMLS)

Virginia - Money Order Seller and Money Transmitter - NMLS

Final premium can vary based on underwriting factors

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Clear pricing.Instant issuance.