Overview
The money transmitter bond is the surety bond posted as a condition of a money transmitter or money services business license. It backstops the transmitter's obligations to consumers and the state, giving them a recovery path if the company mishandles customer funds or violates state money transmission law. It is the bond that accompanies the license, not the license itself, which Cornerstone Licensing handles separately.
State regulators set the required amount, and many states scale it with transmission volume, so the figure ranges widely. Because the bond guarantees compliance and the safe handling of customer money, underwriting reviews company financials, net worth, and owner credit.
It is a surety bond that protects consumers and the state. The transmitter reimburses the surety for any paid claim under the indemnity agreement.
Who needs this bond
Licensed money transmitters and prospective applicants in every state that conditions the license on a posted surety bond (most do).
Typical amount and term
Bond amount set by state, commonly 50,000 to 7,000,000 dollars. Many states scale the bond by transmission volume. Premium 1 to 3 percent of bond amount for well-qualified principals.
What this bond costs
Your premium is a small percentage of the bond amount, set by underwriting. The biggest drivers:
- The state-set bond amount (often scaled to transmission volume)
- The company's financial statements and net worth
- The owners' credit
- Transmission volume by state
| Scenario | Bond amount | Estimated premium |
|---|---|---|
| Well-qualified principal | $50,000 bond | around 1 to 2 percent per year |
| Mid-size transmitter | $250,000 bond | around 1.5 to 3 percent per year |
| High-volume, tiered amount | $1,000,000 bond | rate declines at higher amounts for strong files |
Figures are illustrative premium ranges, not quotes or statutory amounts. Your rate depends on the bond amount your obligee requires and your underwriting profile.
Money Transmitter Bond bond by the numbers
- US jurisdictions we track require a money transmitter bond bond
- 51 of 52US jurisdictions we track require a money transmitter bond bondSource: state statutes compiled in the Cornerstone bond cost index, data as of 2026-06-17. Money Transmitter Bond bond cost index
- statutory bond amounts across the 50 states that publish one
- $10,000 to $1,000,000statutory bond amounts across the 50 states that publish oneSource: state statutes compiled in the Cornerstone bond cost index, data as of 2026-06-17. Money Transmitter Bond bond cost index
- median statutory bond amount across those states
- $100,000median statutory bond amount across those statesSource: state statutes compiled in the Cornerstone bond cost index, data as of 2026-06-17. Money Transmitter Bond bond cost index
What you will need
- NMLS or state license number
- Last 12 months of transmission volume by state
- Company financials and owner credit
How to apply
- Send license details and transmission volume
- Receive a per-state quote with surge brackets
- Bond signed and filed with the state regulator
How a surety bond differs from insurance
The money transmitter bond is a surety guarantee that protects consumers and the state, not the transmitter. It is separate from the money transmitter license itself, and it is not insurance on the company's own losses. The bond backstops compliant handling of customer funds.
Frequently asked questions
Is the bond the same as a money transmitter license?
No. The bond is posted with the license as a condition of it. The license itself is a separate approval, which Cornerstone Licensing handles on the licensing side.
How is the bond amount set?
By each state's regulator, frequently scaled to transmission volume, so the required amount varies widely from state to state.
What does the premium depend on?
Mainly the bond amount, the company's financial strength and net worth, and owner credit. Strong files earn lower rates.
Do I need a bond in every state?
Yes. Most states that license money transmitters require a bond, each at the amount that state sets.
Money Transmitter Bond bond requirements by state
The figures below are the ones that actually differ from state to state. Everything else about this bond, who needs it, what underwriting looks at, and how it is filed, is the same everywhere and is covered above.
In every state that requires the bond, it renews annually alongside the underlying license.
| State | Bond amount | Minimum net worth | Renewal fee | Regulator |
|---|---|---|---|---|
| Alabama | $100,000 | $25,000 | $300 to $1,000 | Alabama Securities Commission |
| Alaska | $25,000 | $25,000 | $300 to $1,000 | Alaska Department of Commerce, Community, and Economic Development, Division of Banking and Securities |
| Arizona | $25,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Arizona Department of Insurance and Financial Institutions |
| Arkansas | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Arkansas Securities Department |
| California | $250,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | California Department of Financial Protection and Innovation (DFPI) |
| Colorado | $250,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Colorado Department of Regulatory Agencies, Division of Banking |
| Connecticut | $300,000 | $100,000 for issuing or selling checks, drafts or money orders; $500,000 for money transmission other than issuing or selling payment instruments or stored value; $1,000,000 for travelers checks, electronic payment instruments or stored value | $300 to $1,000 | Connecticut Department of Banking |
| Delaware | $25,000 | $100,000 | $300 to $1,000 | Delaware Office of the State Bank Commissioner |
| District of Columbia | $50,000 | $100,000, plus $50,000 for each additional location or authorized delegate in the District, capped at $500,000 | $300 to $1,000 | District of Columbia Department of Insurance, Securities and Banking |
| Florida | $50,000 | $100,000, plus $10,000 for each additional location, capped at $2,000,000 | $300 to $1,000 | Florida Office of Financial Regulation |
| Georgia | $250,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Georgia Department of Banking and Finance |
| Hawaii | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Department of Commerce and Consumer Affairs, Division of Financial Institutions |
| Idaho | $10,000 | $50,000 | $300 to $1,000 | Idaho Department of Finance |
| Illinois | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Illinois Department of Financial and Professional Regulation, Division of Financial Institutions |
| Indiana | $300,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Indiana Department of Financial Institutions |
| Iowa | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Iowa Division of Banking |
| Kansas | $200,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Office of the State Bank Commissioner |
| Kentucky | $500,000 | $500,000 | $300 to $1,000 | Kentucky Department of Financial Institutions |
| Louisiana | $100,000 | $100,000 | $300 to $1,000 | Louisiana Office of Financial Institutions |
| Maine | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Bureau of Consumer Credit Protection |
| Maryland | $150,000 | $150,000, plus $10,000 for each additional licensed location or authorized delegate, capped at $500,000 | $300 to $1,000 | Office of the Commissioner of Financial Regulation |
| Massachusetts | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Massachusetts Division of Banks |
| Michigan | $500,000 | $100,000 at a single location; operating at more than one location or through authorized delegates, the lesser of $100,000 plus $25,000 per location or delegate and $1,000,000 | $300 to $1,000 | Department of Insurance and Financial Services (DIFS) |
| Minnesota | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Minnesota Department of Commerce |
| Mississippi | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Mississippi Department of Banking and Consumer Finance |
| Missouri | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Missouri Division of Finance |
| Montana | Not required | Not published | Not published | Montana Division of Banking |
| Nebraska | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Nebraska Department of Banking and Finance |
| Nevada | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | State of Nevada Department of Business and Industry, Financial Institutions Division |
| New Hampshire | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | New Hampshire Banking Department |
| New Jersey | $100,000 | $100,000, plus $25,000 for each location or authorized delegate in New Jersey, capped at $1,000,000; a licensee authorised only as a foreign money transmitter maintains $50,000 plus $10,000 per location | $300 to $1,000 | New Jersey Department of Banking and Insurance |
| New Mexico | $300,000 | $100,000 for one to four locations or authorized delegates in New Mexico, rising above four locations | $300 to $1,000 | New Mexico Regulation and Licensing Department, Financial Institutions Division |
| New York | Set by the regulator at filing | Not published as a fixed figure we have verified; confirm the current net worth requirement with the state regulator before relying on it | $1,000 | New York State Department of Financial Services |
| North Carolina | $150,000 | $250,000 | $300 to $1,000 | North Carolina Office of the Commissioner of Banks |
| North Dakota | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | North Dakota Department of Financial Institutions |
| Ohio | $300,000 | $500,000 | $300 to $1,000 | Ohio Department of Commerce, Division of Financial Institutions |
| Oklahoma | $50,000 | $275,000 for one to fifty locations; at least $500,000 above fifty locations | $300 to $1,000 | Oklahoma State Banking Department |
| Oregon | $25,000 | $100,000, plus $25,000 for each additional location or authorized delegate | $300 to $1,000 | Oregon Department of Consumer and Business Services, Division of Financial Regulation |
| Pennsylvania | $1,000,000 | $500,000 tangible net worth | $300 to $1,000 | Pennsylvania Department of Banking and Securities |
| Puerto Rico | $500,000 | Not published as a fixed figure we have verified; confirm the current net worth requirement with the state regulator before relying on it | $300 to $1,000 | Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) |
| Rhode Island | $50,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Rhode Island Department of Business Regulation, Division of Banking |
| South Carolina | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | South Carolina Attorney General (Commissioner under the South Carolina Uniform Money Services Act) |
| South Dakota | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | South Dakota Division of Banking |
| Tennessee | $50,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Tennessee Department of Financial Institutions |
| Texas | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Texas Department of Banking |
| Utah | $50,000 | $1,000,000 | $300 to $1,000 | Utah Department of Financial Institutions |
| Vermont | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Vermont Department of Financial Regulation |
| Virginia | $100,000 | Greater of $100,000 or 3% of total assets up to $100 million; $3 million plus 2% of assets above $100 million; $21 million plus 0.5% of assets above $1 billion | $300 to $1,000 | Virginia State Corporation Commission, Bureau of Financial Institutions |
| Washington | $10,000 | Set by rule by the Director of Financial Institutions, no less than $10,000 and no more than $3,000,000 of tangible net worth | $300 to $1,000 | Washington State Department of Financial Institutions |
| West Virginia | $300,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | West Virginia Division of Financial Institutions |
| Wisconsin | $100,000 | Greater of $100,000 or a sliding scale of total assets (3% of the first $100 million, 2% of $100 million to $1 billion, 0.5% above $1 billion) | $300 to $1,000 | Wisconsin Department of Financial Institutions |
| Wyoming | $10,000 | Not published as a fixed figure we have verified; confirm the current net worth requirement with the state regulator before relying on it | $300 to $1,000 | Wyoming Division of Banking |
State figures last verified August 6, 2026.
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The complete compliance picture
The financial services and lenders stack
Lenders, mortgage originators, and money services businesses carry three layers of compliance at once: the state license that lets them operate, the surety bond a regulator may require to hold the license, and the insurance program that covers the operation. Here is how the three fit together.
LicenseMoney Transmitter LicenseMoney transmitter and money services business licensing where you move or hold customer funds.Visit Cornerstone LicensingInsuranceInsurance for Financial Services & LendersProfessional liability, cyber, crime, and directors and officers coverage tuned to regulated financial exposure.Visit Covered by Cornerstone
Reviewed by the Cornerstone Surety bond team. Last reviewed 2026-06-17. Last verified June 16, 2026.