Money transmission is the business of selling or issuing payment instruments, receiving money or monetary value for transmission to a location within or outside the United States by any and all means, including wire, facsimile or electronic transfer. The Hawaii Department of Commerce and Consumer Affairs Financial Institutions demands that all who wish to be in this profession or business must be issued a license as per the Hawaii Revised Statutes 489D.
Due to the 2013 Act 167, there have been new changes in the requirements for money transmitters license application, including the need to be registered with the NMLS. For the other changes and requirements, please refer to the list below.
A surety bond is made to protect the public. In basic terms, it guarantees your business will adhere to all laws and requirements in your industry. In the event your business conducts unlawful acts, a consumer of your services may file a claim on the bond.
You can get your surety bond here at Surety1 by completing our simple online application. Within one business day, one of our licensed agents will reach out to you with your free quote. After you pay and sign the paperwork, we can send you your surety bond right away.
Surety1 can offer some of the lowest rates in the market as we have partnered with several surety companies to make that possible. We even maintain an A+ rating from the Better Business Bureau for fast and efficient service to all our clients from all 50 states since our establishment in 2003.