IL money transmitter bonds.
From $100. Enter your amount.
Illinois' Uniform Money Transmission Modernization Act requires every money transmission applicant and licensee to maintain a surety bond of the greater of $100,000 or 100% of average daily Illinois money transmission liability, up to $2,000,000, under 205 ILCS 658/10-2 — filed and maintained in NMLS. The premium is 1% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.
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Apply to filed in one sitting.
Enter your amount, pay, and satisfy the NMLS bond requirement. Here is the whole thing:
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Business details, the bond amount your liability calculation requires, an effective date, and a term. Any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The premium is 1% of the bond amount, $100 minimum — a $100,000 floor bond prices at $1,000 — and the bond issues the moment you pay, executed bond and power of attorney on the spot.
File with your NMLS record
Submit the bond against your money transmission license record so IDFPR can verify coverage. Illinois requires the bond maintained in NMLS for the life of the license.
What it is and who needs it.
What the bond actually guarantees
Illinois adopted the Uniform Money Transmission Modernization Act (205 ILCS 658, P.A. 103-0991) to align its money transmitter licensing with the multistate NMLS framework. Section 10-2 requires every applicant and licensee to provide and maintain a surety bond in a form satisfactory to the Secretary — the greater of $100,000 or 100% of the licensee's average daily Illinois money transmission liability for the most recently completed quarter, up to a $2,000,000 maximum.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of Illinois (the obligee). The bond runs to the State for the benefit of any claimant with respect to the receipt, handling, transmission, and payment of money by the licensee or its authorized delegates — the customers whose transfers you carry.
It is not insurance for you — if the surety pays a claim, you repay the surety. The Act requires the bond filed and maintained as an electronic surety bond in NMLS, and coverage continues after you stop doing business in Illinois until outstanding obligations run off; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — business details, your bond amount, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Illinois bonds.
Money transmitter bond, issued today.
1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.