District Of Columbia — Money Transmitter (NMLS) Bond
The District of Columbia Money Transmitter (NMLS) Bond is a mandatory financial security requirement for entities seeking licensure to operate as money transmitters within the District. This bond serves as a formal guarantee that the licensee will comply with the District of Columbia Money Transmitter Act, as codified in D.C. Official Code section 26-1001 et seq.
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- Recorded state
- District of Columbia
- Bond type
- Money Transmitter / Money Services Bond
- Category
- Financial services
What this bond does
This surety bond protects the District of Columbia and any creditor or claimant who may suffer financial loss due to the principal's failure to adhere to applicable laws and regulations. It ensures the licensee maintains professional accountability while conducting money transmission activities, providing a path for potential claims against the bond in cases of verified breach of conditions.
- Who needs it
- This bond is required for applicants and current licensees who conduct money transmission activities in the District of Columbia and are subject to regulation by the Department of Insurance, Securities and Banking.
- Who it protects
- The bond functions as a financial safeguard, covering the District and affected claimants against the principal's failure to perform their duties as defined by the DC Official Code and associated municipal regulations. The surety's aggregate liability is strictly limited to the penal sum stated on the bond, regardless of the number of years the bond remains in force or the number of claims filed.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Department of Insurance, Securities and Banking Surety Bond Form (opens in a new tab)Checked October 18, 2026
Have these ready
- Verify your specific licensure needs as outlined in the D.C. Official Code section 26-1001 et seq.
- Gather your exact business registration information, including the primary place of business and any branch office details.
- Ensure your NMLS account information is up to date to facilitate the filing process with the Department of Insurance, Securities and Banking.
- Prepare to select the appropriate bond form specifically designated for money transmitters as mandated by the banking bureau.
Questions about this bond
What is the primary purpose of this bond?
The bond provides financial protection to the District of Columbia and claimants against a money transmitter's failure to comply with statutory requirements under the DC Official Code.
How is the bond cancelled?
Cancellation occurs through formal notice to the Department of Insurance, Securities and Banking, with an effective date 30 days after the Department receives the notice.
Does this bond cover multiple years?
Yes, it remains in effect until cancelled, though the surety's total liability is capped at the penal sum regardless of the time in force or number of claims.
Who does this bond protect?
It protects the District of Columbia and any creditors or claimants affected by the licensee's failure to perform their legal obligations.