Any person engaging in the business of money transmission in Maryland, including selling or issuing payment instruments or stored value devices, or receiving money for transmission. Required when: Application for a new license or renewal of an existing license. Exemptions: Banks, trust companies, savings banks, and ot…
Overview
What it is.
Any person engaging in the business of money transmission in Maryland, including selling or issuing payment instruments or stored value devices, or receiving money for transmission. Required when: Application for a new license or renewal of an existing license. Exemptions: Banks, trust companies, savings banks, and ot…
Who usually needs it
Any person engaging in the business of money transmission in Maryland, including selling or issuing payment instruments or stored value devices, or receiving money for transmission.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
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.
StateMDBond amountThe greater of $150,000 or 100% of the applicant's average daily money transmis…Term lengthContinuousObligeeMaryland Commissioner of Financial RegulationRenewalThe bond is continuous and remains in effect as long as the license is active. Licensees must report their average daily money transmission liability quarterly, and the Commissioner may adjust the required bond amount b…Bond classMiscellaneous CommercialCategoryGovernmentBondSurety BondStatutory referenceMd. Code Ann., Fin. Inst. § 12-412JurisdictionState
