Iowa Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $50,000- $500,000 | $500-$5,000 | NMLS |
Businesses engaging in regulated money transmission in Iowa generally must obtain the applicable license unless an exemption applies. The surety bond is maintained as part of Iowa's Uniform Money Transmission Modernization Act licensing requirements.
Cost of the Iowa Money Transmitter Bond
The annual premium for an Iowa Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $50,000 to $500,000, estimated annual premiums range from approximately $500 to $5,000. Complete the quote form to begin the required bonding process.
How the Iowa Money Transmitter Bond Works
The Iowa Money Transmitter Bond provides security in connection with the licensee's obligations under Iowa money transmission law. The required amount is based on the licensee's average daily Iowa money transmission liability, subject to the statutory minimum and maximum.
Principal: Iowa money transmitter applicant/licensee
Obligee: State of Iowa / Superintendent of Banking
Surety: Authorized surety company
Learn more about the surety bond claim process.
How to Get the Iowa Money Transmitter Bond
1. Determine the required bond amount under Iowa Code § 533C.802.
2. Complete the quote form to begin the required bonding process.
3. Pay the applicable bond premium.
4. Complete the required bond filing for the Iowa money transmission license.
5. Maintain the required bond coverage while licensed.
Learn more about Iowa surety bond options available through NNA Surety.
Get Your Iowa Money Transmitter Bond
For assistance with your Iowa Money Transmitter Bond, call 855-215-2160 to speak with NNA Surety.