Any person or entity applying for or holding a license to engage in the business of money transmission in Indiana. Required when: Requirement for obtaining and maintaining a money transmission license. Exemptions: The United States or a department, agency, or instrumentality thereof,Money transmission by the United St…
Overview
What it is.
Any person or entity applying for or holding a license to engage in the business of money transmission in Indiana. Required when: Requirement for obtaining and maintaining a money transmission license. Exemptions: The United States or a department, agency, or instrumentality thereof,Money transmission by the United St…
Who usually needs it
Any person or entity applying for or holding a license to engage in the business of money transmission in Indiana.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateINBond amountThe bond amount must be the greater of: (1) $300,000; or (2) an amount equal to…Term lengthContinuousObligeeIndiana Department of Financial InstitutionsRenewalThe bond is continuous and must be maintained at all times. The licensee must periodically review and adjust the bond amount based on the quarterly average daily money transmission liability calculation. The license its…Bond classLicense BondCategoryFinancial ServicesBondMoney Transmitter BondStatutory referenceIndiana Code § 28-8-4.1-1002JurisdictionState
