Maryland money transmitter bonds.
From $1,500.
Maryland's Money Transmission Act requires every licensee to maintain a surety bond under Md. Code, Fin. Inst. § 12-412 equal to the greater of $150,000 or 100% of your average daily Maryland money-transmission liability, up to a $2,000,000 cap. The premium is 1% of the bond amount.
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How much does a Maryland money transmitter bond cost?
1% of the bond amount, from $1,500 at the $150,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No quote queue — enter your amount, pay, and upload the bond to NMLS. Here is the whole thing:
Apply online
Business details, the bond amount the statute requires, an effective date, and a term. That is the application — 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, computed on the spot — the bond issues the moment you pay, with your executed bond and power of attorney generated instantly.
File through NMLS
Upload the executed bond to your NMLS record for the Maryland Office of Financial Regulation. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Maryland licenses money transmitters — payment processors, remittance companies, wallet providers, and currency exchangers doing business with Maryland customers — under Fin. Inst. Title 12, Subtitle 4. Section 12-412 requires each licensee to maintain a surety bond in the amount of the greater of $150,000 or 100% of average daily money-transmission liability in the State for the most recently completed quarter, up to a $2,000,000 maximum.
The bond secures your compliance with state and federal money-transmission law and the fulfillment of your obligations to every party to a money transmission — the senders and receivers whose funds move through your platform. Coverage is continuous, is not reduced by renewals, and survives for three years after the bond is cancelled or you stop transmitting.
It is not insurance for you — if the surety pays a claim, you repay the surety. If claims ever exhaust the bond, the Commissioner requires a replacement before you keep operating; 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 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. Upload the executed bond to your NMLS record for the Maryland Office of Financial Regulation. Wet-ink original 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.
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.
Submit the application with the bond amount the statute requires — the executed bond is generated the moment you pay, ready to file.
Start the application →Common questions.
Other Maryland bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
Finish your money transmitter license today.
1% of the bond amount, issued the moment you pay. Free until issued.