call us: 877.514.5146

New Jersey Money Transmitter Bond

  • Obtain your New Jersey money transmitter bond online
  • Top bonding rates
  • Bad credit options

How Do I Get My Bond?

Start Your Application
Fill out the online application form

Receive Your Free Quote
You will be sent your quote in minutes

Buy Your Surety Bond
We offer secure payment options

What Is a New Jersey Money Transmitter Bond?

If you want to start your own New Jersey money transmitter business, you have to get licensed with the state Department of Banking and Insurance. Providing a money transmitter bond is one of the criteria you need to meet as a part of the process.

How does the bond work? It’s a safety mechanism required by state authorities in order to protect the interests of the general public. If your customers suffer damages as a result of any illegal or unethical actions you’ve committed, the bond can provide a fair reimbursement.

Similarly to other types of surety bonds, the money transmitter bond represents a contract between three entities. Your money transmitting company is the principal. The NJ Department requiring the bond is the obligee. The third party is the surety, which backs your business by issuing the bond.

Frequently Asked Questions

When is a New Jersey money transmitter bond needed?

You need a New Jersey money transmitter license from the Department of Banking and Insurance if you want to practice this profession in the state. As a part of the licensing, you need to provide a surety bond in an amount between $100,000 and $1,000,000. This is the official bond form. However, you have to pass the licensing steps through the Nationwide Multistate Licensing System and Registry (NMLS).

The goal of your bond is to guarantee that you will follow all applicable rules and regulations, including the New Jersey Money Transmitters Act.

What is the surety bond cost?

The bond amount you have to provide to obtain your New Jersey money transmitter license is between $100,000 and $1,000,000, as set by the licensing authorities. The bond premium you need to pay is a few percents of this required amount. It depends on your personal and business finances. If they are in good shape, the bond price can be as low as 1% and 5%.

A number of factors influence your exact surety bond cost. The surety that you apply with needs to take a close look at your personal credit score as the owner of the business. It’s very likely it will need to consider your audited business financials, since the bond amount is substantial. Your personal financial statement may also be needed, as well as a cash verification in some cases. The type of currency you’re handling as a money transmitter may also influence the bond cost. In general, the more stable your overall profile is, the smaller the bond premium is likely to be.

What happens if my credit is not perfect?

It is more difficult to obtain a money transmitter bond with problematic finances. In some cases, it may still be possible. You will, however, need to present your audited business financials as the main basis for the bonding decision. Your business and personal finances will have to be solid enough, so that a surety underwriter would be willing to extend surety credit of as much as $1,000,000 for your company.

How do I apply for a bond?

Would you like to learn the nitty-gritty details of how bonding works? Don’t miss out on our How to Get Bonded page. It provides in-depth information about the process.

Do you want to consult our bonding experts for your questions or bond application? Just call us at (877) 514-5146.

How are money transmitter bond claims managed?

Your surety bond functions as a safety net for the state and your customers. It does not protect your business. That’s why if you fail to follow the law in your operations as a money transmitter, you can end up with a claim against the bond.

Parties that have suffered damages due to your fraudulent or unethical actions can seek a compensation up to the penal sum of your bond, which is a considerable amount. If the case is proven, the surety has to ensure a fast reimbursement by taking up the costs at first. However, you are liable for all claim payments. Thus, it’s best to avoid situations that can lead to claims, as they are potentially quite harmful for your company.

START YOUR APPLICATION It's FREE. No Obligations. Approval in Minutes.

About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

What Our Clients Have To Say?




Kimberlee Ables
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Andrew Poincot
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
Margie Martinez
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

Still Have Questions? Check Our FAQ Pages

As Featured In