Who requires it
Pennsylvania Department of Banking and Securities — Non-Depository Licensing
License & permit · Pennsylvania
Pennsylvania Money Transmitter Bond
Anyone transmitting money—or, after Act 7 of 2025, virtual currency—for a fee under Pennsylvania’s Money Transmission and Virtual Currency Transmission Business Licensing Law must file a one-million-dollar surety with the Department of Banking and Securities through NMLS before a license issues or renews.
Common bond amount
$1,000,000
Fixed statutory amount; DoBS may order an additional bond after examination up to average daily PA outstanding transmission receipts (prior 30 days) plus 10%.
How you file
Upload the original bond in NMLS Document Uploads. Do not use NMLS electronic bonding.
Renewal
Include a current bond with each renewal. Licenses last up to 14 months.
Who requires it
Persons and entities that transmit money or virtual currency for a fee and that need a DoBS money transmitter license. This is separate from mortgage, sales-finance, debt-management, and debt-settlement bonds.
How much is required
Section 6(a)(3) of the Money Transmission Business Licensing Law sets a fixed $1,000,000 amount from a surety authorized in Pennsylvania. The bond protects the Commonwealth and Pennsylvania customers. If DoBS later decides that amount is inadequate, section 6(b.1) lets the department—after a review and a consent agreement or order—require an additional bond up to the average daily outstanding balance of money received for transmission in Pennsylvania during the thirty days before the requirement, plus ten percent of that average. Renewal applications under section 9(b) must include a bond meeting the same terms unless that additional bond already applies.
How to get and file it
Obtain the current Pennsylvania money transmitter surety form from the NMLS checklist materials and have an authorized surety complete it in the exact legal name (including trade names) on the MU1. Do not use NMLS electronic bonding for this license; upload the original bond in NMLS Document Uploads. Do not mail or email originals to the department. Keep the statutory bond (and any ordered additional bond) active while licensed. File renewals before the license expires with a bond that meets the same rules; licenses under the act last no more than fourteen months as the department determines. Separately keep the act’s $500,000 tangible net worth minimum—that net-worth rule is besides the surety, not a substitute for it.
Cost note
$1,000,000 (and any DoBS-ordered additional amount) is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Statutory amount
- $1,000,000 under Act 249 § 6(a)(3)
- Additional bond
- Possible after DoBS exam/consent under § 6(b.1) volume formula
- Related net worth
- $500,000 tangible net worth (separate from the surety)
Official sources
Frequently asked questions
Does virtual currency transmission need this bond?
Act 7 of 2025 amended the licensing law so transmitting virtual currency for a fee requires a DoBS money transmitter license. The section 6 surety accompanies that license path the same way money transmission does—confirm the live NMLS Pennsylvania Money Transmitter checklist for document labels.
Can I deposit securities instead of a bond?
The current Act 249 text deletes the old securities-deposit alternative. The NMLS checklist calls for a $1,000,000 company surety uploaded in NMLS.
Related Pennsylvania bond guides
Credit Services Organization Bond
$5,000–$25,000
Credit services organizations that want to charge or receive money before fully performing contracted services must post a Credit Services Act surety bond—or establish a qualifying trust account—sized to recent buyer fees, with a $5,000 floor and $25,000 ceiling.
Mortgage Licensing Act Bond
$25,000–$500,000 by license type
Mortgage brokers, lenders, servicers, and certain mortgage originators licensed under Pennsylvania’s Mortgage Licensing Act must maintain surety bonds in forms acceptable to the Department of Banking and Securities. Amounts follow license type and, for several categories, Pennsylvania dwelling/residential mortgage volume.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Pennsylvania application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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