Mississippi
Money Transmitter Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $25,000 - $500,000

Term Length: 1 year

Price Varies

Most Bonds Processed In 24 Hours Or Less

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How much does a money transmitter bond cost in Mississippi?

The Mississippi Department of Banking and Consumer Finance requires money transmission professionals to post surety bonds to legally work within the state. Before beginning the bonding process, applicants should verify their required bond amount with the state: Mississippi requires a minimum of $25,000 of bond coverage.

This specific bond type is subject to underwriting, meaning the amount you’ll pay depends on a review of your personal credit report as well as your required bond amount. The experts at SuretyBonds.com make the bonding process fast and easy for all applicants. Request your free bond quote now!

Bond Type

Bond Amount

Cost

$25,000-$500,000Money Transmitter Bond

$25,000-$500,000

Starts at $375

ELECTRONIC DELIVERY

200,000 SATISFIED CUSTOMERS NATIONWIDE

NO HIDDEN FEES

Why do I need the bond?

Mississippi money transmitter surety bonds guarantee that principals (money transmission professionals) conduct business in compliance with the Mississippi Money Transmitters Act (Mississippi Code 75-15) and all other laws applicable to the business of money transmission. If fraudulent activity occurs as a result of malpractice conducted by the principal, consumers will not face any financial harm. Acts of malpractice and causes for license suspension and revocation include:

Violating any provision of the Mississippi Money Transmitters Act
Failing to pay the annual license fee
Failing to deposit a required surety bond

Other causes for license suspension and revocation can be found below in the Additional Resources section.

What’s the fine print?

Mississippi money transmitter licenses require an initial $750 fee and can be renewed annually for $400. The applicant must have a minimum net worth of $25,000 to apply for this license.

How to become a money transmitter in Mississippi

To become a licensed money transmitter in Mississippi, applicants must provide the full name and business address of:

The proprietor, if the applicant is an individual
Every member, if the applicant is a partnership or association
The corporation and each executive officer and director thereof, if the applicant is a corporation
Every trustee and officer if the applicant is a trust

Applicants must also submit a $50 application/investigation fee.

Other license application requirements can be found below in the Additional Resources section.

Call the Mississippi Department of Banking and Consumer Finance at 1-800-844-2499 for a copy of the application. Upon the filing of the application, a mandatory investigation will be conducted to determine if all required criteria are met by the applicant.