LA money transmission bonds.
1% of the bond amount.
Louisiana licenses money transmitters and check sellers through the Office of Financial Institutions, filed on NMLS, and La. R.S. 6:1037 conditions that license on a surety bond running to the Office of Financial Institutions for the benefit of the state and any harmed customers. New applicants post a minimum $25,000 bond; premiums cost 1% of the bond amount, $100 minimum, after a quick soft credit check that never affects your score.
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Apply to filed in one sitting.
The sale of checks and money transmission bond ties to your NMLS company record. Enter your amount, consent to a soft pull, and file. Here is the whole thing:
Apply online
Your company details, the bond amount the Office of Financial Institutions set for your license, and the effective date — plus a one-time consent to a soft credit pull.
Approved
Most money transmission bonds clear on the spot; the soft credit pull informs approval and never affects your score. Your premium is 1% of the bond amount, $100 minimum.
File through NMLS
Your executed bond and power of attorney arrive by email, ready to upload to your NMLS company record for the Office of Financial Institutions. Wet-ink originals mailed on request.
What it is and who needs it.
What the money transmission bond actually guarantees
Louisiana regulates the sale of checks and money transmission under Title 6 of the Revised Statutes, and a licensee — a money transmitter, check seller, or their agent — files with the Office of Financial Institutions through NMLS. Under La. R.S. 6:1037, the license runs alongside a surety bond by a bonding or insurance company authorized to do business in Louisiana, in a minimum amount of $25,000.
It is a three-party arrangement: the licensee (the principal), the surety carrier, and the Office of Financial Institutions, for the use and benefit of the office and creditors of the licensee, as obligee. Under the statute, a person with a claim against the licensee or its agents can sue directly on the bond, and the attorney general can bring suit on behalf of claimants. If the surety pays a claim, the licensee repays the surety — the bond is not insurance for the licensee.
The Commissioner sets the initial bond amount based on the applicant's proposed first-year business plan, with a $25,000 floor; at renewal, the statute reprices it to one-half of outstanding checks, or one percent of annual volume of money transmitted (rounded to the nearest thousand), whichever applies. The surety can cancel the bond on 30 days' written notice to the Commissioner, and coverage ends for breaches occurring after that date. Enter your amount and your premium is priced from a $100 minimum after a quick soft credit check that never affects your score.
You need this bond if you are
One application, priced at checkout.
These are the actual underwriting fields, including your company's doing-business-as name and a one-time consent to a soft credit pull. The pull never affects your score, and your price — 1% of the bond amount, $100 minimum — is set at application.
Start the application →Common questions.
Other Louisiana bonds.
File your NMLS bond without the holdup.
1% of the bond amount, $100 minimum, soft pull only. Enter your Office of Financial Institutions amount and file the same day. Free until issued.