Minnesota money transmitter bonds.
From $1,000.
Minnesota licenses money transmitters under the Money Transmission Modernization Act. Minn. Stat. § 53B.60 requires security of the greater of $100,000 or 100% of the licensee's average daily Minnesota money transmission liability over the most recent three months, capped at $500,000. Ours is 1% of the bond amount.
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How much does a Minnesota money transmitter bond cost?
1% of the bond amount, from $1,000 at the $100,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The money transmitter bond is checkout-rated — enter your amount, pay, and post it to your NMLS company record. Here is the whole process:
Apply online
Company details, your bond amount, an effective date, and a term. That is the application. No credit check up to $25,000.
Pay & e-sign
The premium is 1% of the bond amount — checkout-priced, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
Post it to NMLS
Minnesota tracks money transmission licensing through NMLS for the Department of Commerce. Your executed bond arrives by email, ready to associate with your company record — wet-ink original mailed on request.
What it is and who needs it.
What the money transmitter bond guarantees
Minnesota adopted the multistate Money Transmission Modernization Act at Minn. Stat. ch. 53B, administered by the Department of Commerce through NMLS. Section 53B.60 requires every applicant and licensee to provide and maintain security — a surety bond in a form satisfactory to the commissioner — as a continuing condition of the license.
The amount is not one flat number. It is the greater of $100,000 or an amount equal to 100% of the licensee's average daily money transmission liability in Minnesota calculated for the most recently completed three-month period, up to a maximum of $500,000. A licensee whose tangible net worth exceeds ten percent of total assets maintains the $100,000 security.
It is not insurance for you — the security answers to the state and to the consumers whose funds you transmit. If the surety pays a claim, you repay the surety. Because the amount is recalculated from a rolling three-month look-back, we track your 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
Post it to NMLS. Minnesota tracks money transmission licensing through NMLS for the Department of Commerce. Your executed bond arrives by email, ready to associate with your company record — 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.
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, issued instantly.
These are the actual issuing fields — company details, your bond amount, an effective date, and a term. That is the application.
Start the application →Common questions.
Other Minnesota bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
Money transmitter bond, posted today.
1% of the bond amount, issued the moment you pay. No credit check up to $25,000. Free until issued.