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 one hundred thousand dollars of security on file with the administrator. Section 6100-S allows either a surety bond in a form the administrator accepts or, with approval, a deposit instead of a bond. A licensee may post more than that amount when permissible-investment rules under section 6100-T call for it. Licensing and bonding for this program run through NMLS, and the Bureau of Consumer Credit Protection now receives new and converted electronic surety bonds for money transmitters.
Common bond amount
$100,000
Fixed required security under 32 M.R.S. § 6100-S; deposit may substitute with administrator approval.
How you file
Surety bond or administrator-approved deposit, filed electronically through NMLS
Renewal
Maintain while licensed; convert to an electronic surety bond on the Bureau 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 one hundred thousand dollars. 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 to your permissible-investment posture.
How to get and file it
Have an authorized surety issue a one-hundred-thousand-dollar money transmitter bond satisfactory to the administrator—ordinarily as an NMLS electronic surety bond—or arrange an administrator-approved deposit. Match the legal name and any DBAs to the NMLS company record. Maintain the $100,000 security continuously while licensed. Convert any legacy paper bond to an NMLS electronic surety bond 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
- Administrator-approved deposit instead of a bond
- Higher amounts
- May exceed $100,000 pursuant to § 6100-T permissible-investment rules
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 administrator approves a deposit instead of a bond under §6100-S. Confirm deposit mechanics with the Bureau before substituting for an electronic surety bond.
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 twenty-five-thousand-dollar surety under 9-A M.R.S. §10-202, reduced to ten thousand dollars when the broker works solely as a refund-anticipation loan or check facilitator. Bureau FAQs require that twenty-five-thousand-dollar coverage for every licensed location and allow one combined instrument that lists each address. Supervised lenders under §2-302 must attach a fifty-thousand-dollar surety to each branch application; the administrator may also require a main-office bond not exceeding fifty thousand dollars. Both license paths now file electronic surety bonds 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 fifty-thousand-dollar surety with the administrator. Section 6174 sets that combined amount on a form the administrator approves and ties the bond term to the registration period. The instrument runs to the administrator for use by the administrator and by persons who may have a cause of action against the provider. Registrations file through NMLS, and the Bureau now expects electronic surety bonds for this credential.
Debt Collector Bond
$5,000–$50,000
Debt collectors licensed under Maine’s Fair Debt Collection Practices Act must keep a surety the administrator finds reasonably necessary under 32 M.R.S. §11032. The Bureau of Consumer Credit Protection publishes the operative amounts: new direct-collection applicants post twenty thousand dollars, repossession or residential property-preservation applicants post fifteen thousand dollars, and letter-writing companies that make no direct collections post five thousand dollars. At renewal, average monthly gross Maine collections set the amount from fifteen thousand dollars under ten thousand dollars a month up to fifty thousand dollars when monthly averages exceed forty thousand dollars. Repossession and property-preservation renewals stay at fifteen thousand dollars, and letter-writing renewals stay at five thousand dollars. Sureties may cancel with thirty days’ notice to the administrator, and most debt-collector bonds now file as NMLS electronic surety bonds.
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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