Who requires it
Mississippi Department of Banking and Consumer Finance — Money transmission
License & permit · Mississippi
Mississippi Money Transmitter Bond
Mississippi money-transmission licensees must maintain a surety bond—or a commissioner-approved deposit—under the Money Transmission Modernization Act that replaced the prior Money Transmitters Act effective July 1, 2025. The required security is the greater of one hundred thousand dollars or one hundred percent of the licensee’s average daily Mississippi money-transmission liability for the most recently completed three-month period, up to five hundred thousand dollars.
Common bond amount
$100,000–$500,000
Greater of $100,000 or 100% of average daily MS liability (3-month window), max $500,000; commissioner may raise to $1,000,000 (eff. July 1, 2025).
How you file
File through NMLS; surety bond or commissioner-approved deposit
Renewal
Maintain while licensed; recalculate liability-based face unless at $500,000 maximum
Who requires it
Applicants for and holders of Mississippi money-transmission licenses under the Money Transmission Modernization Act administered by the Department of Banking and Consumer Finance through NMLS.
How much is required
HB 1428 requires the greater of $100,000 or 100% of average daily Mississippi money-transmission liability calculated for the most recently completed three-month period, capped at $500,000. A licensee that maintains the maximum amount need not recalculate average daily liability for that section. The commissioner may raise the required amount to as much as $1,000,000 when public protection or impaired financial condition warrants.
How to get and file it
Compute average daily Mississippi liability for the latest three-month window unless you already post the $500,000 maximum. Have an authorized bonding or insurance company issue a surety in a form satisfactory to the commissioner—or arrange an approved deposit—then file the electronic surety bond through NMLS with the money-transmission license package. Keep the bond or deposit in force at all times while licensed. Recalculate when Mississippi liability grows toward a higher amount unless you already maintain the statutory maximum. Manage changes through NMLS under DBCF’s electronic bond instructions.
Cost note
One hundred thousand to five hundred thousand dollars (or a commissioner-increased amount up to $1,000,000) is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Standard formula
- Greater of $100,000 or 100% of average daily Mississippi transmission liability
- Ceiling
- $500,000 (unless commissioner orders higher, up to $1,000,000)
- Maximum-amount shortcut
- Licensees at the $500,000 maximum need not recalculate average daily liability for sizing
- Alternative
- Commissioner-approved deposit instead of a bond
Official sources
Related resources
Frequently asked questions
What replaced the old Mississippi $25,000 money-transmitter bond floor?
Effective July 1, 2025, the Money Transmission Modernization Act (HB 1428) repealed the prior chapter 75-15 schedule and imposed a $100,000 floor with a liability-based formula up to $500,000.
Can the Mississippi commissioner require more than $500,000?
Yes. The act authorizes the commissioner to increase the bond or deposit when public protection requires, but not above $1,000,000.
Related Mississippi bond guides
Mortgage Broker / Lender Bond
$50,000 / $250,000
Mississippi mortgage brokers and mortgage lenders licensed under the S.A.F.E. Mortgage Act must keep a bond covering each mortgage loan originator affiliated with the company. As amended effective July 1, 2025, Miss. Code §81-18-11 sets the initial amount at fifty thousand dollars for a mortgage broker and two hundred fifty thousand dollars for a mortgage lender. Renewal amounts are set by the commissioner by rule based on prior-year loan activity and may not exceed those statutory caps.
Debt Management Services Bond
$50,000
Mississippi debt-management service providers licensed under the Debt Management Services Act must file a fifty-thousand-dollar bond with the commissioner. Miss. Code §81-22-7 conditions the bond on performing licensed duties and on paying judgments arising from chapter violations. Cash, a certificate of deposit, or government bonds in the same amount may substitute.
Motor Vehicle Dealer Bond
$15,000 / $25,000 / $100,000
Mississippi vehicle dealers answer to two bonding tracks. The Department of Revenue licenses dealers—including wholesale-only shops—as designated agents and requires a Bond of Designated Agent of at least fifteen thousand dollars under Title 35 dealer regulations and the MDOR application packet. Separately, applicants for new motor vehicle dealer licenses with the Mississippi Motor Vehicle Commission must file a twenty-five-thousand-dollar bond under Miss. Code §63-17-75, or a one-hundred-thousand-dollar bond covering every licensed location of the same capacity.
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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