NM money transmitter bonds.
1% of the bond amount.

New Mexico licenses money transmitters under the Uniform Money Services Act, and NMSA § 58-32-203 requires security of $300,000 or one percent of your yearly New Mexico money transmission volume, whichever is greater, up to $2,000,000. The premium is 1% of the bond amount, $100 minimum, the bond issues the moment you pay, and the application's credit screen is a soft pull only — never a hard inquiry, and it never affects your score.

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Required to hold a New Mexico money transmission license under NMSA 58-32-203

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$300,000 floor — or 1% of your yearly NM transmission volume if greater, capped at $2,000,000

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1% of the bond amount, $100 minimum — your exact price appears at the application

1% rate$100 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Three steps. One sitting.

Money transmission security is amount-priced, not underwriting-priced. Enter the amount the division requires, pay, and file with your NMLS record. Here is the whole process:

NOW · ONLINE

Apply online

Company details, your county and state of incorporation, years in business, the required security amount, an effective date, and a term — plus the credit-consent box, which authorizes a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

The bond issues the moment you pay — your executed bond and power of attorney generate on the spot at 1% of the bond amount, $100 minimum.

SAME DAY

File with the Financial Institutions Division

Your executed bond arrives by email, ready to file with your money transmission license application or renewal. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

New Mexico licenses money transmission under the Uniform Money Services Act, NMSA 1978 Chapter 58, Article 32, administered by the Financial Institutions Division of the Regulation and Licensing Department. Section 58-32-203 requires a licensee to maintain security — a surety bond is the usual form — payable to New Mexico for the benefit of any claimant against the licensee.

The amount is $300,000, or one percent of the licensee's total yearly dollar volume of money transmission business in New Mexico (or an applicant's projected first-year volume), whichever is greater, up to a maximum of $2,000,000. The director may raise the maximum to $5,000,000 with just cause, and may reduce the security as outstanding payment obligations decrease.

The bond is not insurance for you — if the surety pays a claim, you repay the surety. It also has a long tail: a surety bond covers claims for as long as the director specifies, but for at least five years after the licensee stops providing money services in New Mexico. We track the term and send renewal notices 60 and 30 days out.

NMSA 1978 § 58-32-203Section 58-32-203 of the Uniform Money Services Act requires a money transmission licensee to provide security in the amount of three hundred thousand dollars ($300,000) or an amount equal to one percent of the licensee's total yearly dollar volume of money transmission business in this state — or the applicant's projected total volume for the first year of licensure — whichever is greater, up to a maximum of two million dollars ($2,000,000). The security is payable to New Mexico for the benefit of any claimant against the licensee, and a surety bond covers claims for at least five years after the licensee ceases to provide money services in New Mexico. Confirm your required amount with the Financial Institutions Division.

You need this bond if you're

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Applying for a New Mexico money transmission license — the $300,000 floor applies from day one

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Renewing a license — the security tracks your prior-year New Mexico transmission volume

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Growing past the floor — 1% of volume takes over once it exceeds $300,000

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Winding down New Mexico operations — the bond must cover claims for at least five more years

One application, issued instantly.

These are the actual issuing fields — company details, owner details, the security amount, an effective date, a term, and the credit-consent box.

Start the application →

FAQ

Common questions.

How much is the New Mexico money transmitter bond?The premium is 1% of the bond amount, $100 minimum. The security amount is set by NMSA 58-32-203 — $300,000 or 1% of your yearly New Mexico transmission volume, whichever is greater, up to $2,000,000. Your exact price appears at the application, before you pay.

What security amount does New Mexico require?At least $300,000. If one percent of your total yearly dollar volume of New Mexico money transmission business is greater, that figure controls, capped at $2,000,000 — and the director may raise the maximum to $5,000,000 with just cause. Applicants use projected first-year volume.

Do I pay the full security amount?No. You pay the premium — 1% of the bond amount, $100 minimum. The security amount is the surety's maximum liability if a valid claim is made, not a deposit, and nobody holds your money.

Is there a credit check?The application includes a credit-consent section. It authorizes a soft credit pull only — never a hard inquiry, and it never affects your score. The rate stays 1% of the bond amount, $100 minimum, either way.

How long does the bond stay on the hook after I stop?A surety bond covers claims for as long as the director specifies, but for at least five years after the licensee ceases to provide money services in New Mexico. The director can reduce the security as your outstanding payment obligations decrease.

Related bonds

Other New Mexico bonds.

Money transmitter bond, issued today.

1% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only, free until issued.

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Your premiumfrom $100

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