Money transmitter bond by the numbers
- $250K-$7M
- California money transmitter bond, a DFPI sliding scale on average daily outstanding obligations
- CA DFPI
A bond that scales with your volume
Under California's Money Transmission Act, a licensed money transmitter must maintain a surety bond that protects its customers. The DFPI sets the amount on a sliding scale, from a $250,000 minimum up to $7 million, tied to your average daily outstanding obligations in the state. As you move more money, the required bond rises. (Older licensees sat under a flat $500,000 minimum that transitioned to the sliding scale.)
What it costs
You never pay the full bond amount. You pay an annual premium, a percentage of it, set by underwriting and driven mostly by your financial statements and credit. Because these bonds can be large, underwriting may ask for collateral on part of the exposure. A broker who shops multiple markets matters most here, especially for growing companies. See how collateral works and bonding capacity for the underwriting side.
Getting bonded
The bond must be in place to obtain and keep your license. We assemble your file, position it with the surety markets that write money transmitter bonds, and work newer or collateral-dependent files rather than declining them. Start a quote with your license details and average daily obligations, and we will quote the exact bond. Underwriting still applies; we never promise guaranteed approval.