Who requires it
Idaho Department of Finance — Money transmission
License & permit · Idaho
Idaho Money Transmitter Bond
Idaho money transmitter applicants and licensees must maintain a surety bond, irrevocable letter of credit, or similar security the director accepts under Idaho Code § 26-2908. The floor is ten thousand dollars. Each additional location or authorized-representative path adds five thousand dollars, up to a five-hundred-thousand-dollar maximum. The security runs to the state for people with claims against the licensee’s money-transmission obligations.
Common bond amount
$10,000–$500,000
$10,000 + $5,000 per additional location/authorized-representative path; maximum $500,000 (Idaho Code § 26-2908).
How you file
Surety bond, irrevocable letter of credit, or other security the director accepts
Renewal
Stays in force while licensed; 30-day cancellation notice; keep security two years after you exit
Who requires it
Persons applying for or holding an Idaho money transmitter license under chapter 29, title 26, including applicants that transmit money through authorized representatives or multiple locations in Idaho.
How much is required
Section 26-2908 starts at ten thousand dollars for a single location. Propose more than one location—through authorized representatives or otherwise—and the security increases by five thousand dollars per location until the five-hundred-thousand-dollar cap. Claims cannot exceed the required bond amount.
How to get and file it
Confirm the required amount from your Idaho location and authorized-representative count, then have an Idaho-authorized surety submit an electronic surety bond (or arrange an accepted letter of credit or similar security) through the Department of Finance’s NMLS money-transmitter path. Maintain the security while licensed. Cancellation requires thirty days’ written notice to the director and does not erase liability already accrued. After leaving Idaho money-transmission operations, keep the security in place for two years unless the director allows an earlier reduction tied to outstanding payment instruments.
Cost note
Ten thousand to five hundred thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Minimum amount
- $10,000
- Per additional location
- +$5,000
- Maximum amount
- $500,000
- Post-cessation
- Security remains two years after leaving Idaho money transmission (subject to director reductions)
Official sources
Related resources
Frequently asked questions
How do I calculate my Idaho money transmitter bond?
Start at $10,000 for one location. Add $5,000 for each additional location or authorized-representative path under § 26-2908 until you reach $500,000. Confirm the count with the Department of Finance or your NMLS checklist before filing.
Can I use a letter of credit instead of a surety bond?
Yes. Section 26-2908 accepts a surety bond, an irrevocable letter of credit, or other similar security the director accepts, and it also allows certain deposits of cash or qualified securities for all or part of the required amount.
Related Idaho bond guides
Collection Agency Bond
$15,000–$100,000
Idaho Collection Agency Act licensees must file a surety bond with the Department of Finance before the license issues. Idaho Code § 26-2232 starts new applicants at fifteen thousand dollars. On renewal, the amount is the greater of fifteen thousand dollars or two times the preceding year’s average monthly net collections, rounded up to the next thousand, and capped at one hundred thousand dollars. The same chapter licenses collection agencies, debt counselors, credit counselors, and credit repair organizations, so those activities share this bonding schedule rather than separate statewide bonds.
Motor Vehicle Dealer Bond
$10,000 / $20,000 / $40,000
Idaho vehicle and vessel dealers must file a performance bond with the Idaho Transportation Department before the dealer license issues. Idaho Code § 49-1608 sets three amounts: ten thousand dollars for dealers that sell only motorcycles, motor-driven cycles, motorbikes, ATVs, utility-type vehicles, truck campers, and snow machines; forty thousand dollars for wholesale-only used-vehicle dealers; and twenty thousand dollars for all other dealers. A surety bond from an Idaho-licensed company, a certificate of deposit, or a cash deposit with the director may satisfy the requirement.
Notary Public Bond
$10,000
Idaho notary applicants must submit a ten-thousand-dollar bond with the Secretary of State application under Idaho Code § 51-121. The bond covers notarial acts during the six-year commission term. A notary may perform notarial acts in Idaho only while a valid bond remains on file with the Secretary of State.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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