Who requires it
West Virginia Division of Financial Institutions
License & permit · West Virginia
West Virginia Money Transmitter Bond
Licensees under West Virginia’s checks, money-order, money-transmission, currency-transportation, and currency-exchange article must post a surety bond acceptable to the Commissioner of Financial Institutions. Section 32A-2-10 sets one hundred thousand dollars for licensees that issue or sell checks or money orders or that engage in currency exchange, and three hundred thousand dollars for licensees that receive money for transmission by wire, facsimile, or electronic transfer or that engage in currency transportation. A licensee that engages in multiple covered activities posts the higher amount. At renewal the bond increases by one percent of annual West Virginia volume above ten million dollars, rounded to the nearest thousand, but never above one million dollars. Cash deposits and pledges of cash-equivalent instruments are not accepted instead of the surety bond.
Common bond amount
$100,000 / $300,000–$1,000,000
Activity base of $100,000 or $300,000; renewal uplift 1% of WV volume above $10M; statutory max $1,000,000 (§ 32A-2-10).
How you file
Surety bond only; cash or securities deposits are not accepted
Renewal
Recalculate uplift at renewal; maintain up to five years after exit
Who requires it
Persons licensed under W. Va. Code §32A-2 to sell checks or money orders, transmit money, transport currency, or exchange currency, including merchants licensed solely for non-incidental check cashing who must post the one-hundred-thousand-dollar amount.
How much is required
Start from the activity base in §32A-2-10(a)—one hundred thousand or three hundred thousand dollars—then, at each renewal, add one percent of West Virginia annual volume above ten million dollars, rounded to the nearest thousand, without exceeding one million dollars. The commissioner may demand a new or supplemental bond within thirty days if the existing security is insecure, deficient, or exhausted, still subject to the one-million-dollar ceiling.
How to get and file it
Complete the Division of Financial Institutions / NMLS money-transmitter application, identify the correct activity base, and have a West Virginia–authorized surety post the bond. No cash or securities deposit may substitute under §32A-2-10(b). Maintain the required bond until five years after the licensee ceases West Virginia business unless outstanding transactions are cleared or handled under unclaimed-property law. Recalculate the renewal uplift from reported West Virginia volume. Deliver any commissioner-ordered supplemental bond within thirty days of demand.
Cost note
One hundred thousand to one million dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Checks, money orders, or currency exchange
- $100,000
- Wire/electronic transmission or currency transportation
- $300,000
- Renewal uplift
- +1% of annual WV volume above $10,000,000, rounded to nearest $1,000
- Maximum
- $1,000,000
Official sources
Related resources
Frequently asked questions
Is the West Virginia money-transmitter bond always $100,000?
Only for check/money-order sales or currency exchange. Receiving money for wire, facsimile, or electronic transmission—or engaging in currency transportation—requires $300,000. Multiple activities take the higher amount, and renewals can push the amount higher under the volume uplift.
Can I deposit cash instead of buying a surety bond?
No. Section 32A-2-10(b) states that no cash deposit or pledge of cash-equivalent instruments or securities may be accepted instead of the required bond.
Related West Virginia bond guides
Mortgage Broker / Lender Bond
$50,000–$250,000
West Virginia residential mortgage lenders and brokers license under article 17 of chapter 31 and must file electronic surety bonds through NMLS in favor of the State for consumers and for commissioner claims on unpaid civil administrative penalties or examination invoices. Section 31-17-4 sizes lender faces at one hundred thousand, one hundred fifty thousand, or two hundred fifty thousand dollars by West Virginia annual loan originations, except that lender licensees who service West Virginia mortgage loans file a two-hundred-thousand-dollar bond. Broker faces step from fifty thousand to one hundred thousand dollars by West Virginia originations, and a broker must post one hundred fifty thousand dollars before participating in a table-funded residential mortgage loan.
Credit Services Organization Bond
$15,000
West Virginia credit services organizations that charge or receive money before finishing every service promised to a buyer must obtain a fifteen-thousand-dollar surety bond or establish a fifteen-thousand-dollar surety account. Section 46A-6C-4 requires a copy of the bond—or notice of the depository, trustee, and account number—to be filed with the Secretary of State. The Secretary of State’s CSO registration materials mirror that rule: any early deposit, including advances for third-party fees, triggers the continuous fifteen-thousand-dollar security, while a firm that accepts no payment before completing services may register without the bond or surety account.
Collection Agency Bond
$5,000 per office
No person may operate a collection agency in West Virginia without a business franchise registration certificate—treated as the collection-agency license—and a West Virginia office. Section 47-16-4 also requires each applicant to file a $5,000 surety bond for every principal office and every branch office. The bond must be issued by a company licensed to write surety in West Virginia, run with the registration tax period, and be approved by the Tax Commissioner before the license may issue.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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