Indiana money transmitter bonds.
$3,000 flat.
A company engaging in money transmission in Indiana licenses with the Department of Financial Institutions under the Money Transmission Modernization Act, and that license runs on a security bond of at least $300,000. Ours is $3,000 flat at that minimum.
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How much does an Indiana money transmitter bond cost?
$3,000 at the $300,000 amount, the same for every applicant.
Three steps. One sitting.
The security bond behind a money transmission license is a single filing. Here's the entire process:
Apply online
Business details and an effective date. The application includes a credit consent, but it authorizes a soft pull only — it never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at $3,000 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the DFI
Your executed bond and power of attorney arrive by email, ready to submit with your money transmission license application. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Under Indiana's Money Transmission Modernization Act, a company engaging in the business of money transmission — receiving money for transmission, selling or issuing payment instruments, or providing payment instrument transportation — must be licensed by the Department of Financial Institutions and must maintain a security bond in a form satisfactory to the director. The amount is the greater of $300,000 or the licensee's average daily money-transmission liability in Indiana for the most recently completed calendar quarter, up to a $500,000 ceiling — most licensees carry the $300,000 minimum.
It's a three-party arrangement: you (the principal), the surety carrier, and the DFI as obligee, payable for the benefit of Indiana residents and Indiana-based entities that agree to receive money transmission services from the licensee. If a licensee fails to properly disburse or account for funds, an affected consumer or business can look to the bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond has to stay in force for years after a license is surrendered or terminated, and if a claim reduces the bond's principal amount the statute requires prompt notice to the director and a replacement filing. We track the term and send renewal notices 60 and 30 days out to keep the $300,000 filing continuous.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $300,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the DFI. Your executed bond and power of attorney arrive by email, ready to submit with your money transmission license application. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $3,000 at the $300,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and the credit consent this bond carries.
Start the application →Common questions.
Other Indiana bonds.
The same bond in nearby states.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
File your DFI money transmission license bond today.
$3,000 flat at the statutory minimum, issued the moment you pay. Free until issued.