South Dakota money transmitter bonds.
$1,000 flat.
South Dakota licenses money transmission under SDCL chapter 51A-17, and section 51A-17-100 requires a licensee to maintain security — a surety bond in favor of the state — of at least $100,000. Ours is $1,000 flat for the $100,000 bond, the price you see is the checkout price. Any credit screen is a soft pull only — it never affects your score.
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How much does a South Dakota money transmitter bond cost?
$1,000 at the $100,000 amount, the same for every applicant.
Three steps. One sitting.
The $100,000 money transmission bond is checkout-priced, so there is no quote round-trip. Here is the entire process:
Apply online
Business details, an effective date, and a term — the bond amount is already fixed at $100,000 on this form. One soft credit pull, never a hard inquiry, and it never affects your score.
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 Division of Banking
Your executed bond arrives by email, ready to submit with your money transmission license application or renewal through NMLS. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
South Dakota regulates money transmission — selling or issuing payment instruments and stored value, and receiving money for transmission — through the Division of Banking under SDCL chapter 51A-17. A licensee has to maintain a security device, and the ordinary form of that device is a surety bond in favor of the state.
Section 51A-17-100 sizes it as the greater of $100,000 or an amount equal to 100% of the licensee's average daily money transmission liability, subject to a statutory maximum of $500,000. A licensee whose tangible net worth exceeds ten percent of total assets maintains the $100,000 floor. This page issues the $100,000 bond — if the Division set a larger amount for your volume, tell us and we will write that amount instead.
It is a three-party arrangement: you (the principal), the surety carrier, and the State of South Dakota (the obligee), with your customers as the protected parties. It is not insurance for you — if the surety pays a claim, you repay the surety. The license must stay continuously bonded, so 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 Division of Banking. Your executed bond arrives by email, ready to submit with your money transmission license application or renewal through NMLS. 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. The $100,000 bond amount is already set on the form.
Start the application →Common questions.
Other South Dakota bonds.
The same bond in nearby states.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your money transmission filing today.
$1,000 flat for the $100,000 bond, issued the moment you pay, soft pull only. Free until issued.