Who requires it
Maine Bureau of Consumer Credit Protection
License & permit · Maine
Maine Money Transmitter Bond
Money transmission applicants and licensees under Title 32 chapter 79-A must keep $100,000 of security on file with the Bureau. Section 6100-S allows either a surety bond the Bureau accepts or, with approval, a deposit instead of a bond. You may need more than $100,000 if the Bureau’s investment rules under section 6100-T require it. Licensing and bonding for this program run through NMLS.
Common bond amount
$100,000
Fixed required security under 32 M.R.S. § 6100-S; a deposit may substitute with Bureau approval.
How you file
Surety bond or Bureau-approved deposit, filed through NMLS
Renewal
Keep $100,000 coverage while licensed. Update a paper filing in NMLS on the Bureau’s timeline
Who requires it
Applicants for and holders of Maine money transmission licenses under 32 M.R.S. chapter 79-A, filing with the Bureau of Consumer Credit Protection.
How much is required
Section 6100-S fixes the required security at $100,000. There is no average-daily-liability ladder in that section. Confirm with the Bureau whether a deposit substitute or a higher amount under section 6100-T applies.
How to get and file it
Have an authorized surety issue a $100,000 money transmitter bond the Bureau accepts—ordinarily filed through NMLS—or arrange a Bureau-approved deposit. Match the legal name and any DBAs to the NMLS company record. Keep the $100,000 security in place while licensed. If you still have a paper bond, update it in NMLS on the Bureau’s published deadline. Keep the bond current when the legal name or DBA list changes.
Cost note
One hundred thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required security
- $100,000
- Alternatives
- Bureau-approved deposit instead of a bond
- Higher amounts
- May exceed $100,000 if Bureau investment rules under § 6100-T require it
Official sources
Frequently asked questions
Is Maine’s money transmitter bond volume-based?
No. Section 6100-S sets a flat $100,000 required security. Volume-style liability formulas used in some other states do not appear in that Maine section.
Can I use a deposit instead of a surety?
Yes, when the Bureau approves a deposit instead of a bond under §6100-S. Confirm deposit mechanics with the Bureau before substituting for an NMLS filing.
Related Maine bond guides
Loan Broker / Supervised Lender Bond
$25,000 / $50,000
Maine’s Bureau of Consumer Credit Protection treats loan brokerage and supervised lending as related Consumer Credit Code credentials with different bond amounts. Article 10 loan brokers—including firms that improve credit records or arrange consumer credit for a fee—must accompany each application with a $25,000 surety under 9-A M.R.S. §10-202, reduced to $10,000 when the broker works solely as a refund-anticipation loan or check facilitator. Bureau FAQs require that $25,000 coverage for every licensed location and allow one combined bond that lists each address. Supervised lenders under §2-302 must attach a $50,000 surety to each branch application; the administrator may also require a main-office bond not exceeding $50,000. Both license paths now file through NMLS.
Debt Management Services Bond
$50,000
Anyone registering to provide debt-management services under Maine’s Debt Management Services Act must file a $50,000 surety with the Bureau. Section 6174 sets that amount on a form the Bureau approves and ties the bond to the registration period. The bond protects the Bureau and people who have a claim against the provider. Registrations file through NMLS.
Debt Collector Bond
$5,000–$50,000
Debt collectors licensed under Maine’s Fair Debt Collection Practices Act must keep a surety the Bureau finds reasonably necessary under 32 M.R.S. §11032. The Bureau of Consumer Credit Protection publishes the operative amounts: new direct-collection applicants post $20,000, repossession or residential property-preservation applicants post $15,000, and letter-writing companies that make no direct collections post $5,000. At renewal, average monthly gross Maine collections set the amount from $15,000 under $10,000 a month up to $50,000 when monthly averages exceed $40,000. Repossession and property-preservation renewals stay at $15,000, and letter-writing renewals stay at $5,000. Sureties may cancel with thirty days’ notice to the Bureau, and most debt-collector bonds now file through NMLS.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Maine application
Maine will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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