Mississippi Money Transmitter Bond
Bond Range and Estimated Premiums
| Bond Amount Range | Estimated Premium (1.5%- 3%) | Source |
| $25,000- $500,000 | $250- $5,000 | State Commissioner |
Mississippi money transmitters are regulated by the Mississippi Department of Banking and Consumer Finance. Applicants and licensees must maintain the security required by the state's Money Transmission Modernization Act as part of the licensing framework.
Cost of the Mississippi Money Transmitter Bond
The annual premium for a Mississippi Money Transmitter Bond is estimated at 1.5%–3% of the required bond amount. With bond amounts ranging from $25,000 to $500,000, estimated annual premiums range from approximately $250 to $5,000. Complete the quote form to begin the required bonding process.
How the Mississippi Money Transmitter Bond Works
The Mississippi Money Transmitter Bond provides financial security in connection with the licensee's obligations under applicable Mississippi money transmission law. The required security amount depends on the licensee's average daily Mississippi money transmission liability, subject to the statutory minimum and maximum.
Principal: Mississippi money transmitter applicant/licensee
Obligee: State of Mississippi / Mississippi Department of Banking and Consumer Finance
Surety: Authorized bonding or insurance company
Learn more about the surety bond claim process.
How to Get the Mississippi Money Transmitter Bond
1. Determine the required security amount based on the applicable Mississippi statutory calculation.
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 Mississippi money transmission license.
5. Maintain the required security while licensed.
Learn more about Mississippi surety bond options available through NNA Surety.
Get Your Mississippi Money Transmitter Bond
For assistance with your Mississippi Money Transmitter Bond, call 855-215-2160 to speak with NNA Surety.