California Money Transmitter Bond
California money transmitters licensed by the DFPI must post a surety bond that scales with transaction volume. We place these large financial bonds, including for growing fintechs.
- Bond amount
- Set by the DFPI, $250,000 to $7 million
- Authority
- California DFPI
- Statute
- Money Transmission Act
The premium is a percentage of the bond amount, set by underwriting. The figures above are the bond amounts, not what you pay.
What it is
Under California's Money Transmission Act, a licensed money transmitter must maintain a surety bond that protects its customers. The Department of Financial Protection and Innovation sets the amount on a sliding scale tied to transaction volume, commonly from $250,000 up to $7 million. It is required to obtain and keep your license.
Who needs it
- Money transmitters and payment companies licensing with the DFPI
- Fintechs and businesses that move customer funds in California
- Licensees renewing under the Money Transmission Act
Bond amounts and requirements are general guidance and can change. Confirm the current requirement with the listed agency before you file. We will quote your exact bond.
Tough credit or a prior claim? It's welcome here. See how we place hard-to-place surety bonds, or get a quote and we'll place your exact bond.
Money Transmitter Bond FAQs
Why is the money transmitter bond so large?
Can a newer company qualify for one?
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