Maine money transmitter bonds.
$1,000 flat.
Under Maine's Money Transmission Modernization Act, 32 M.R.S. §6100-S requires every money transmission licensee to maintain security of $100,000: a surety bond in a form the administrator approves, on file with the Bureau of Consumer Credit Protection. Ours is $1,000 flat.
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How much does a Maine money transmitter bond cost?
$1,000 at the $100,000 amount, the same for every applicant.
Three steps. One sitting.
Even at a $100,000 penal sum, this is a checkout-priced filing. Here's the entire process:
Apply online
Business details, an effective date, and a term. That is the application — no financials, and any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at $1,000 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the Bureau
Your executed bond arrives by email, ready to file with your money transmission license with the Bureau of Consumer Credit Protection. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Maine repealed its old Money Transmitters Act and enacted the Money Transmission Modernization Act (P.L. 2023, ch. 662), now Chapter 79-A of Title 32. Under 32 M.R.S. §6100-S, every applicant and licensee must maintain security — a surety bond in a form the administrator approves — in the amount of $100,000, with the option to post a deposit instead subject to administrator approval.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of Maine (the obligee, acting through the Bureau of Consumer Credit Protection). The bond stands behind your money transmission obligations — the funds you receive for transmission and your compliance with Chapter 79-A — so customers harmed by a failure to transmit have recourse.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond has to stay continuously on file for as long as you hold the license; we track the term and send renewal notices 60 and 30 days out.
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 $100,000 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 Bureau. Your executed bond arrives by email, ready to file with your money transmission license with the Bureau of Consumer Credit Protection. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $1,000 at the $100,000 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 a term. That is the application.
Start the application →Common questions.
Other Maine bonds.
The same bond in nearby states.
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Price and requirements checked on the carrier’s application, . Page updated .
Finish your money transmission license today.
$1,000 flat, issued the moment you pay, soft pull only. Free until issued.