1 (800) 308-4358
Mon-Fri 7am-7pm CST
  1. 1. Choose A State
  2. 2. Choose A Bond
  3. 3. Enter Your Contact Info
  4. 4. Receive Your Free Quote

Maine Money Transmitter and Money Order/Travelers Check Issuer Bond

How much does a money transmitter and money order/travelers check issuer bond cost in Maine?

The state of Maine’s Bureau of Consumer Credit Protection requires money transmitters and issuers of money orders and travelers checks to post a surety bond as part of their licensing requirements. Normally, required bond coverage amount is $100,000.

These bonds are subject to underwriting, so your bond premium will vary depending on several components, including a review of your financial reports. Having your financial documents ready can speed up the bonding process.

Our surety bond specialists can help you get a quote quickly, easily and accurately. Request a free bond quote today by filling out our online bond form or call us at 1 (800) 308-4358.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Money Transmitter and Money Order/Travelers Check Issuer Bond Varies Starts at 1.5% 3-9% 10%+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Are you ready to get bonded? We want to help. Submit a bond request form today!

Why do I need this bond?

Money transmitter and money order/travelers check issuer bonds ensure that money services businesses (principals) act in compliance with the Money Transmitters Act in the Maine Revised Statutes. In the event that the principal violates any provisions of the act, the bond protects money services customers from financial harm.

Get the bonding process started now by submitting a bond request form!

What’s the fine print?

The bond remains in full force and effect and runs concurrently with the licensing period. To cancel the bond, 30 days’ written notice must be provided to the Superintendent of the Bureau of Consumer Credit Protection.

How to become a money transmitter in Maine

Maine money transmitters and issuers of money orders and travelers checks are required to obtain a license to operate legally. Some requirements for all applicants include:

  • Net worth of at least $100,000
  • List of locations where the applicant intends to conduct business
  • $500 non-refundable application fee, plus $50 for each authorized delegate, not to exceed $2,500

The state also requires different materials for corporate and noncorporate applicants. See the Maine Revised Statutes for a full list of licensing requirements.

Take the first step toward becoming a licensed money transmitter or issuer of money orders and travelers checks in Maine. Submit a bond request or call 1 (800) 308-4358 and let our experts guide you through the bonding process!

Ready to get started?

Get a FREE Money Transmitter and Money Order/Travelers Check Issuer Bond Quote Today!

Maine Revised Statutes Title 32 Chapter 80

Maine Money Transmitter Licensing Forms

Maine Money Transmitter Licensing Information

Free Shipping
30,000 Satisfied
Customers Nationwide
No Hidden Fees