Cost: Depends on applic...
Applicants for a Money Transmitter license in Florida must provide a surety bond – or an alternative security device – between $50,000 and $2,000,000. The amount is determined by the total monetary amount of money transmissions and payment instruments sold in one year. Money Transmitter licenses are regulated and issued by the Florida Office of Financial Regulation - Financial Institutions Division. The Office of Financial Regulation's Online Services handles the license application process. A money transmitter license authorizes the holder to transmit currency, monetary value, or payment instruments, either by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfers, within this country or to or from locations outside this country.
The bond is continuous; however, the bond may be canceled at any time by the Surety with 30 days written notice to the Office of Financial Regulation.
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