Utah Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $100,000- $500,000 | $1,500- $15,000 | State Commissioner |
Businesses applying for a license to engage in money transmission in Utah must meet state licensing requirements before conducting regulated money transmission activities. Required by the State of Utah, the money transmitter bond helps reimburse the state for covered expenses incurred in administrative or judicial proceedings related to the issuance or sale of payment instruments.
Cost of the Utah Money Transmitter Bond
The annual premium for a Utah Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $100,000 to $500,000, estimated annual premiums range from approximately $1,500 to $15,000. Contact NNA Surety for a personalized quote based on your required bond amount and underwriting.
How the Utah Money Transmitter Bond Works
The Utah money transmitter bond provides financial protection to the state by guaranteeing funds are available for covered expenses arising from certain proceedings involving a licensee, former licensee or seller.
The bond involves three parties:
Principal: Money transmitter
Obligee: State of Utah
Surety: Bonding company
A claim against the bond may be made 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 Utah Money Transmitter Bond
Follow these simple steps to get bonded with NNA Surety:
1. Complete the bond application.
2. Pay the $500 bond premium.
3. Receive the bond form via email.
4. Download and file the bond as required for your Utah money transmission license.
Learn more about your Utah surety bond options across the state.
Get Your Utah Money Transmitter Bond
Stay compliant with Utah licensing requirements by securing your money transmitter bond today. Call 855-457-2196 to get bonded with NNA Surety.