North Carolina Money Transmitter Surety Bond
If you seek to operate as a money transmitter in North Carolina, obtaining a surety bond is a crucial step in the licensing process. The North Carolina Office of the Commissioner of Banks (NCCOB) mandates this requirement to ensure the protection of consumers and the integrity of financial transactions within the state. A North Carolina Money Transmitter Surety Bond is a financial guarantee that ensures your compliance with state regulations governing money transmission services. This bond serves as a safeguard for consumers, providing them with a form of recourse in case of any misconduct or failure to fulfill obligations by the money transmitter.
Required Surety Bond Amounts
| Transmission Volume in U.S. Dollars | Required Bond Amount |
|---|---|
| Up to $1,000,000 | $150,000 |
| Greater than $1,000,000 but less than $5,000,000 | $175,000 |
| Greater than $5,000,000 but less than $10,000,000 | $200,000 |
| Greater than $10,000,000 but less than $50,000,000 | $225,000 |
| Greater than $50,000,000 | $250,000 |
All surety bonds must be submitted electronically through the Nationwide Multistate Licensing System & Registry (NMLS). Paper submissions are not accepted. This streamlined process ensures efficient handling and compliance tracking. Questions and submissions should be directed to:
North Carolina Office of the Commissioner of Banks (NCCOB)
4309 Mail Service Center, Raleigh, NC 27699-4309
Phone: (919) 733-3016
Email: moneytransmitters@nccob.gov
Website: nccob.nc.gov
North Carolina surety bond leader, Surety One, Inc., specializes in the bonding needs financial institutions, money transmitters and cryptocurrency specialists . We offer surety bonds and fidelity bonds to financial services operators and traders in all fifty states, Puerto Rico and U.S. Virgin Islands. Although applicant financial condition is a factor in bond underwriting, we have programs to fit EVERY credit condition. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for a live chat for a North Carolina money transmitter bond application or to discuss your particular needs.
NOTE: This class of business benefits from the protection of a commercial crime coverage. See our fidelity bond offer here.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.
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