Texas Money Services Surety Bond

This Texas Money Services Bond Surety Bond is required to obtain a license from the Texas Department of Banking.  If you are operating without the required license, you are violating Chapter 151 and you are subject to enforcement action and penalties. To apply for a Money Services Business license, you must file an Application Money Services Surety Bondwith the Texas Department of Banking. The Department is responsible to protect the interests of Texas consumers who use money services businesses (MSB’S) by ensuring the overall financial condition of the MSB is sound and the MSB is properly monitoring transactions to deter money laundering, terrorist funding, or financial crimes from occurring.

Money Transmission License Bond

Any person who engages in the business of money transmission is required to have a license and provide a Money Services Surety Bond. Money transmission includes:

  • issuing or selling prepaid access cards and instruments such as checks, money orders and traveler’s checks
  • receiving money for transmission
  • providing third-party bill paying services
  • transporting currency
  • accelerated payment programs

The bond amount of this bond varies. The greater of $300,000 or an amount equal to one percent of the license holder’s total yearly dollar volume of money transmission business in this state or the applicant’s projected total volume of business in this state for the first year of licensure, up to a maximum of $2 million.

Full financial disclosure to the surety company will most likely be required to obtain this surety bond.

Currency Exchange Only License Bond

the surety bond for currency exchange only is $2,500. This bond is issued freely and an application is the only underwriting requirement for the bond.

To Get a Texas Money Services Bond

Surety Solutions has great markets for this bond and is licensed in all 50 States. All of our carriers are rated “A” or better by  the A.M. Best rating agency. Since 2003, the company has been a leader in providing expert surety services nationwide.surety Solutions is also a  participant in the NMLS surety bond program so we can file your bond with the NMLS if required. To apply for a Money Services Surety Bond, simply:

  1. Complete an online application.
  2. One of our expert commercial surety agents will call and email you either a firm quote or a request for additional information.
  3. Provide payment and your signed agreement, then you will receive your bond!

** all bonds are subject to the underwriting terms and conditions of the issuing company.