Money Transmitter Bond

Texas Money Transmitter Bond

Satisfy Texas DOB Chapter 152 money transmission security

Texas money transmitters must maintain surety bond, letter of credit, or deposit security with the Department of Banking under Finance Code Chapter 152. Required security typically runs from $100,000 up to $500,000 based on tangible net worth and Texas average daily money transmission liability.

Overview

What Is a Texas Money Transmitter Bond?

A Texas money transmitter bond is the Chapter 152 security device that protects Texas claimants against money transmission defaults.

Key Provisions
  • Guarantees compliance with Tex. Fin. Code § 152.352
  • Tex. Fin. Code ch. 152
  • Protects the obligee named on the Texas bond form
  • Remains subject to the penal sum and bond conditions
Surety Obligation Overview

What Does This Bond Guarantee?

The surety bond guarantees that the principal will perform the duties required under Tex. Fin. Code § 152.352; Tex. Fin. Code ch. 152 up to the penal sum.

Principal
The party required to obtain the bond and perform the underlying obligation.
Obligee
Texas Department of Banking - Banking Commissioner
Surety
The company issuing the bond and guaranteeing the obligation to the obligee.

When a claim may arise

A claim may arise if the principal fails to comply with the bonded Texas obligation or causes covered loss to the obligee or protected parties.

If a claim is valid

If a claim is valid, the surety may pay up to the bond penalty according to the bond terms; the principal remains liable to reimburse the surety.

Scope of the Obligation
  • Comply with Tex. Fin. Code § 152.352
  • Tex. Fin. Code ch. 152
  • Satisfy Texas Department of Banking - Banking Commissioner filing conditions
  • Maintain the bond for the required term
Bond terms

Bond summary

Amount, premium, term, and the authority that requires this filing.

Eligibility

Who Needs This Bond?

Companies applying for or holding a Texas money transmission license through the Department of Banking need this security continuously in force (currency exchange has a separate, lower schedule).

Who Is Required to File
  • Applicants required by Texas Department of Banking (DOB)
  • Texas businesses renewing or expanding licensed activity
  • Out-of-state firms filing into Texas markets
Requirements

What You Need to Apply

Calculate the required amount under Tex. Fin. Code § 152.352, then file an electronic surety bond via NMLS or an original bond - deposit acceptable to DOB with the application.

Required Documentation
  1. Legal entity name matching the license or filing
  2. Bond amount: $100,000 when tangible net worth exceeds 10% of total assets
  3. otherwise the greater of $100,000 or 100% of average daily Texas money transmission liability (most recent three months), capped at $500,000
  4. Texas obligee form or statute citation
  5. Owner or officer identification for underwriting
Filing

How this filing works

  1. 01

    Confirm the Texas requirement

    Share your license type, court order, or obligee form and the exact penal sum required by Texas Department of Banking (DOB).

  2. 02

    Underwrite and price

    We review credit and filing details, then quote premium options through licensed surety markets.

  3. 03

    Issue and file

    Once approved, we issue the bond for delivery to Texas Department of Banking - Banking Commissioner or for your Texas filing package.

FAQ

Frequently Asked Questions

What is the required amount for a Texas money transmitter bond?

The amount is $100,000 when tangible net worth exceeds 10% of total assets; otherwise the greater of $100,000 or 100% of average daily Texas money transmission liability (most recent three months), capped at $500,000, as set under Tex. Fin. Code § 152.352; Tex. Fin. Code ch. 152 and confirmed with Texas Department of Banking (DOB).

Who is the obligee on a Texas money transmitter bond?

The obligee is typically Texas Department of Banking - Banking Commissioner. Always match the exact name on the Texas form.

How long does it take to get the bond?

Many Texas filings can be underwritten the same day when documents and credit are complete; complex amounts may take longer.

Does bad credit prevent approval?

Not always. Premium and collateral options vary by credit and bond size — ask for markets that still write the risk.

How do I renew the bond?

Most bonds renew on the term shown (1 Year). Keep continuity so your Texas license or filing does not lapse.

Authority Resources

Texas Department of Banking (DOB)

dob.texas.gov

Next step

Ready to file this bond?

We’ll match the requirement and route the application.

Apply for this bond

Or call (877) 477-7578