Maine Money Transmitter Bond
Issued for money services businesses licensed in Maine, backed by A-rated, Treasury-listed sureties.
Overview
Money services businesses seeking a money transmitter license in Maine are required to post a surety bond as part of the state's licensing process. The bond guarantees the licensee's compliance with Maine's money transmission statute and protects consumers who use the licensee's services from loss due to insolvency, fraud, or a failure to remit funds as required by law.
Who Needs This Bond
- Licensed money transmitters and payment processors operating in Maine
- Remittance companies and digital wallet providers seeking Maine licensure
- Multi-state MSBs adding this state to their license footprint
Obligee & Required Bond Amount
Obligee: Maine Bureau of Consumer Credit Protection
Required amount: $100,000 flat.
How This Bond Is Executed
Filing method: NMLS e-bond
Notarization: N/A
Maine accepts the money transmitter bond as an NMLS Electronic Surety Bond (ESB). Machaen Insurance Agency files it electronically through the Nationwide Multistate Licensing System, so there's no paper original to sign, notarize, or mail.
How to Get Bonded
Apply
Complete a short application with your business and coverage details.
Get Quoted
We shop the market among A-rated carriers for the most competitive terms.
Get Covered
Sign your agreement and receive your bond or policy, often within a few business days.
Stay Compliant
We track renewal dates so your coverage stays active without a lapse.
Frequently Asked Questions
How much is the Maine money transmitter bond?+
$100,000 flat. This is confirmed against the current statute at the time of your application, since regulators update these figures from time to time.
Who is the obligee on this bond?+
The Maine Bureau of Consumer Credit Protection, which is the agency that licenses and regulates money transmitters in Maine.
Is this an NMLS e-bond or a paper bond in this state?+
Maine accepts the money transmitter bond as an NMLS Electronic Surety Bond (ESB). Machaen Insurance Agency files it electronically through the Nationwide Multistate Licensing System, so there's no paper original to sign, notarize, or mail.
Do I need a separate bond for every state I'm licensed in?+
Yes. Money transmitter bonds are state-specific, so a license in Maine requires its own bond naming the Maine Bureau of Consumer Credit Protection as obligee, separate from any other state bonds you hold.
How fast can Machaen Insurance Agency issue a Maine money transmitter bond?+
Once your financials and license application details are in hand, we can typically issue an NMLS e-bond within a day or two; a paper bond takes a bit longer to account for signing, notarizing where required, and mailing the original.
Get a Quote for Maine
Speak with our surety team about your Maine money transmitter bond.
201-316-4159
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