Louisiana money transmission bonds.
From $250.
Looking for the Louisiana performance & payment bond?
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. New applicants post a minimum $25,000 bond; premiums cost 1% of the bond amount.
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How much does a Louisiana money transmission bond cost?
1% of the bond amount, from $250 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The sale of checks and money transmission bond ties to your NMLS company record. Enter your amount 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.
Approved
Most money transmission bonds clear on the spot. Your premium is 1% of the bond amount.
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 $250.
You need this bond if you are
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 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.
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 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 sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $25,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, priced at checkout.
These are the actual issuing fields. No credit check up to $25,000. Your price — 1% of the bond amount — is set at application.
Start the application →Common questions.
Other Louisiana bonds.
Price and requirements checked on the carrier’s application, . Page updated .
File your NMLS bond without the holdup.
1% of the bond amount, no credit check up to $25,000. Enter your Office of Financial Institutions amount and file the same day. Free until issued.