Tennessee money transmitter bonds.
From $500.
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Tennessee licenses money transmitters under the Money Transmission Modernization Act, and T.C.A. 45-7-136 requires a surety bond. The amount is the greater of $50,000 or 100% of your average daily Tennessee money transmission liability, capped at $800,000. The premium is 1% of the bond amount.
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How much does a Tennessee money transmitter bond cost?
1% of the bond amount, from $500 at the $50,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No quote queue on a money transmission bond — enter your amount, pay, and file with TDFI. Here is the whole thing:
Apply online
Your business details, owner information, the bond amount your license requires, an effective date, and a term. One soft credit pull, never a hard inquiry, and it never affects your score.
Pay & e-sign
Pricing is 1% of the bond amount, so the bond issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
Your executed bond arrives by email, ready to upload with your NMLS money transmission filing at the Department of Financial Institutions. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Tennessee replaced its 1994 money transmitter statute with the Money Transmission Modernization Act at Title 45, Chapter 7. Licensing runs through the Department of Financial Institutions and NMLS, and T.C.A. 45-7-136 requires a licensee to provide and maintain a surety bond with the Commissioner.
The amount is the greater of $50,000 or an amount equal to 100% of the licensee’s average daily money transmission liability in Tennessee for the most recently completed calendar quarter, up to a maximum of $800,000. An applicant operating through additional locations or authorized delegates adds $10,000 per location, still subject to the $800,000 cap.
The bond runs to the State of Tennessee for the benefit of claimants against the licensee, securing faithful performance of your obligations in receiving, handling, transmitting, and paying money. It is not insurance for you — if the surety pays a claim, you repay the surety — and the bond must stay in place for three years after you cease money transmission in Tennessee.
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 bond runs to September 17 whatever day you buy; the premium covers the period to that date.
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. Your executed bond arrives by email, ready to upload with your NMLS money transmission filing at the Department of Financial Institutions. 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.
These are the actual issuing fields — business details, owner information, the bond amount your license requires, an effective date, and a term.
Start the application →Common questions.
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Money transmission bond, issued today.
1% of the bond amount, issued the moment you pay. Free until issued.