Wyoming Money Transmitter Bond

Bond Penalty: $10,000 minimum up to $500,000 maximum

Chapter 22 of the Wyoming General Statutes (Wyoming Money Transmitters Act) establishes the regulatory and licensing framework for money transmitters. Any person or entity engaged in business of selling or issuing payment instruments, receives money or monetary value for the transmission to a location within or outside the United States by any method including but not limited to wire, facsimile or electronic transfer, must be licensed by the Division of Banking.

One of the requirements of licensing is the filing of a Wyoming money transmitter bond. Per WY Stat §40-22-106 (2013), a surety bond acceptable to the Commissioner of Banking must be posted in the amount of ten thousand dollars ($10,000.00) or two and one-half (2.5) times the outstanding payment instruments booked, whichever is greater. The Commissioner may increase the required amount of the money transmitter bond to a maximum of five hundred thousand dollars ($500,000.00). The surety bond does have a cancellation provision however even post-cancellation the surety continues to carry liability on the obligation for five (5) years after the licensee ceases money transmission operations in the state. The Commissioner may permit the reduction or elimination prior to the five years to the extent that the amount of the licensee's payment instruments outstanding in this state are reduced. Questions, applications and other correspondence may be directed to:

Phone: (307) 777-6485
Email: Deanna.chafin1@wyo.gov
Wyoming Division of Banking
2300 Capitol Avenue, 2nd Floor
Cheyenne, WY 82002

International 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 Wyoming money transmitter bond application or to discuss your particular needs.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

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Additional Attachments

  • Current business financial statement