Oklahoma Money Transmitter Bond
Issued for money services businesses licensed in Oklahoma, backed by A-rated, Treasury-listed sureties.
Overview
Money services businesses seeking a money transmitter license in Oklahoma are required to post a surety bond as part of the state's licensing process. The bond guarantees the licensee's compliance with Oklahoma's money transmission statute and protects consumers who use the licensee's services from loss due to insolvency, fraud, or a failure to remit funds as required by law.
Who Needs This Bond
- Licensed money transmitters and payment processors operating in Oklahoma
- Remittance companies and digital wallet providers seeking Oklahoma licensure
- Multi-state MSBs adding this state to their license footprint
Obligee & Required Bond Amount
Obligee: Oklahoma State Banking Department
Required amount: Varies by activity: $50,000 plus $10,000 per authorized-delegate location; $500,000 for money transmission and sale-of-check activities; $200,000 for money transmission via electronic means.
How This Bond Is Executed
Filing method: Paper bond
Notarization: Required
Oklahoma does not currently accept this bond as an NMLS Electronic Surety Bond, so it must be issued as a physical, wet-signed original. The signed original also needs to be notarized before it's filed.
How to Get Bonded
Apply
Complete a short application with your business and coverage details.
Get Quoted
We shop the market among A-rated carriers for the most competitive terms.
Get Covered
Sign your agreement and receive your bond or policy, often within a few business days.
Stay Compliant
We track renewal dates so your coverage stays active without a lapse.
Frequently Asked Questions
How much is the Oklahoma money transmitter bond?+
Varies by activity: $50,000 plus $10,000 per authorized-delegate location; $500,000 for money transmission and sale-of-check activities; $200,000 for money transmission via electronic means. This is confirmed against the current statute at the time of your application, since regulators update these figures from time to time.
Who is the obligee on this bond?+
The Oklahoma State Banking Department, which is the agency that licenses and regulates money transmitters in Oklahoma.
Is this an NMLS e-bond or a paper bond in this state?+
Oklahoma does not currently accept this bond as an NMLS Electronic Surety Bond, so it must be issued as a physical, wet-signed original. The signed original also needs to be notarized before it's filed.
Do I need a separate bond for every state I'm licensed in?+
Yes. Money transmitter bonds are state-specific, so a license in Oklahoma requires its own bond naming the Oklahoma State Banking Department as obligee, separate from any other state bonds you hold.
How fast can Machaen Insurance Agency issue a Oklahoma money transmitter bond?+
Once your financials and license application details are in hand, we can typically issue an NMLS e-bond within a day or two; a paper bond takes a bit longer to account for signing, notarizing where required, and mailing the original.
Get a Quote for Oklahoma
Speak with our surety team about your Oklahoma money transmitter bond.
201-316-4159
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