Any person or company engaging in the business of money transmission or advertising, soliciting, or holding itself out as providing money transmission in New Mexico. Required when: Application for a money transmitter license. Exemptions: Government agencies, United States Postal Service, banks, credit unions, and othe…
Overview
What it is.
Any person or company engaging in the business of money transmission or advertising, soliciting, or holding itself out as providing money transmission in New Mexico. Required when: Application for a money transmitter license. Exemptions: Government agencies, United States Postal Service, banks, credit unions, and othe…
Who usually needs it
Any person or company engaging in the business of money transmission or advertising, soliciting, or holding itself out as providing money transmission in New Mexico.
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.
StateNMBond amount$300,000Term lengthContinuousObligeeNew Mexico Regulation and Licensing Department, Financial Institutions DivisionRenewalThe bond must be maintained for the duration of the license and is renewed annually through the Nationwide Multistate Licensing System (NMLS).Bond classMiscellaneous CommercialCategoryFinancial ServicesBondSurety BondStatutory referenceNMSA 1978, § 58-32-203JurisdictionState
