Virginia Money Transmitter Bonds
Need help with a license or permit bond? Explore our License & Permit Bond Hub for state-specific requirements and application guides.
What Is a Virginia Money Transmitter Bond?
A Virginia Money Transmitter Bond is a legal contract ensuring that money transmitters follow Chapter 19 of Title 6.2 of the Code of Virginia.
Virginia Money Transmitter Bond Cost
Minimum statutory bond amount
Who Needs a Virginia Money Transmitter Bond?
Any business entity engaging in selling or issuing payment instruments, or receiving money for transmission in Virginia, must be bonded.
Virginia Money Transmitter Requirements
The Virginia Bureau of Financial Institutions requires a background assessment, net worth verifications, and a verified surety bond before executing a state license.
Virginia Money Transmitter License
Acquiring your Virginia bond demands calculated projections of regional volume, underwriter analysis, and automated submission.
How the Money Transmitter Bond Process Works
Determine Your Scaling Tier
Review your rolling 12-month transaction volumes to calculate if your bond must exceed the $25,000 base minimum.
Submit Corporate Financials
Provide business asset records and personal credit credentials to the underwriting entity for premium tier assignment.
Finalize Your Electronic NMLS Bond
Authorize the surety company to transmit your finalized bond directly to the Virginia BFI through NMLS.
Why Choose Us for Your Money Transmitter Bond
Top Money Transmitter Bond Questions Answered
Our most common questions answered efficiently.
How is the total bond amount determined in Virginia?
The bond starts at a baseline of $25,000 and increases incrementally up to $1,000,000 based on your total Virginia transaction volume or location footprint.
Can I file a physical paper bond in Virginia?
No, the Virginia Bureau of Financial Institutions requires all money transmitter surety bonds to be executed electronically through NMLS.
How often is the Virginia bond reviewed for adjustments?
It is evaluated annually during your license renewal period to ensure your active limit matches your recorded transaction volumes.
What financial records are required for underwriting?
Underwriters look for clean corporate balance sheets, proof of operational capital, and favorable personal credit from company stakeholders.
Does this bond protect my company from internal theft?
No, this bond protects the public consumers of Virginia. To shield your own company from internal theft, you must purchase a separate commercial crime policy.
Ready to Get Your Money Transmitter Bond?
Fast approvals, lowest rates, guaranteed Virginia compliance.
Start My Application