Michigan Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $500,000- $1,000,000 | $5,000- $10,000 | DIFS |
Summary of Requirement
Michigan requires money transmitters to hold a surety bond from $500,000 to $1,000,000, depending on the number of locations and authorized delegates operated by the licensee.
Regulator Information
Michigan Department of Insurance and Financial Services (DIFS)
Phone: 517-284-8800
Email: DIFSInfo@michigan.gov
Website: https://www.michigan.gov/difs/industry/licensing-cf/money-transmit