Oklahoma Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $50,000- $500,000 | $500- $5,000 | State Commissioner |
Businesses engaging in regulated money transmission in Oklahoma generally must hold a money transmission license. Required by the State of Oklahoma, the money transmitter bond helps ensure the principal and its authorized delegates faithfully perform covered duties and account for and pay money owed to customers.
Cost of the Oklahoma Money Transmitter Bond
The annual premium for an Oklahoma Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $50,000 to $500,000, estimated annual premiums range from approximately $500 to $5,000. Contact NNA Surety for a personalized quote based on your required bond amount and underwriting.
How the Oklahoma Money Transmitter Bond Works
The Oklahoma money transmitter bond protects money transmission customers by guaranteeing that the principal and its authorized delegates will faithfully perform covered duties and promptly account for and pay amounts due under applicable agreements and Oklahoma requirements.
The bond involves three parties:
Principal: Licensed money transmitter
Obligee: Oklahoma State Banking Department and covered money transmission customers
Surety: Bonding company
A claim against the bond may be filed for covered obligations under the bond. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Oklahoma Money Transmitter Bond
Follow these simple steps to get bonded with NNA Surety:
1. Complete the bond application.
2. Pay the applicable bond premium.
3. Receive the bond form via email.
4. Download and file the bond as required for your Oklahoma money transmission license.
Learn more about your Oklahoma surety bond options across the state.
Get Your Oklahoma Money Transmitter Bond
Stay compliant with Oklahoma licensing requirements by securing the required money transmitter bond. Call 855-457-2196 to speak with NNA Surety about the bond amount that applies to your business and current premium.