MN money transmitter bonds.
1% of the bond amount.
Minnesota licenses money transmitters under the Money Transmission Modernization Act, and Minn. Stat. § 53B.60 requires each licensee to maintain security in the greater of $100,000 or 100% of its average daily Minnesota money transmission liability over the most recent three months — capped at $500,000. Ours is 1% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft credit pull only — it never affects your score.
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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 entire 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, $100 minimum — 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
One application, issued instantly.
These are the actual issuing fields — company details, your bond amount, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Minnesota bonds.
Money transmitter bond, posted today.
1% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only. Free until issued.