Connecticut Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $300,000- $1,000,000 | $3,000- $10,000 | NMLS |
Businesses engaging in regulated money transmission in Connecticut generally must obtain the applicable license unless an exemption applies. The surety bod is maintained as part of the state's money transmission licensing requirements.
Cost of the Connecticut Money Transmitter Bond
The annual premium for a Connecticut Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $300,000 to $1,000,000, estimated annual premiums range from approximately $3,000 to $10,000. Complete the quote form to begin the required bonding process.
How the Connecticut Money Transmitter Bond Works
The Connecticut Money Transmitter Bond provides financial security in connection with the licensee's obligations under Connecticut money transmission law. The bond is maintained for the benefit of persons who may have covered claims arising from the licensee's money transmission activities.
Principal: Connecticut money transmitter applicant/licensee
Obligee: State of Connecticut / Connecticut Department of Banking
Surety: Authorized surety company
Learn more about the surety bond claim process.
How to Get the Connecticut Money Transmitter Bond
1. Confirm the bond amount required by the Connecticut Department of Banking.
2. Complete the quote form to begin the required bonding process.
3. Pay the applicable bond premium.
4. Complete the required bond filing for the Connecticut money transmission license.
5. Maintain the required bond coverage while licensed.
Learn more about Connecticut surety bond options available through NNA Surety.
Get Your Connecticut Money Transmitter Bond
For assistance with your Connecticut Money Transmitter Bond, call 855-215-2160 to speak with NNA Surety.