Who requires it
Utah Department of Financial Institutions — Money transmitters
License & permit · Utah
Utah Money Transmitter Bond
Utah money transmitters licensed under the Money Transmitter Act must submit a surety bond satisfactory to the commissioner in a minimum amount of $50,000. Utah Code § 7-25-204 ties the bond to reimbursing the state for expenses in administrative or judicial proceedings related to payment-instrument activity. NMLS checklists call for a $50,000 electronic surety from an authorized Utah surety.
Common bond amount
$50,000
Statutory minimum under Utah Code § 7-25-204(3); confirm with DFI if a higher amount is required on your file.
How you file
File electronically through NMLS with the Department of Financial Institutions
Renewal
Continuous while licensed; three-year post-cessation maintenance; 30-day cancel notice
Who requires it
Applicants and licensees for a Utah money transmitter license under Title 7, Chapter 25. Blockchain tokens are excluded from the statutory definition of money transmission after the 2020 amendment noted on DFI’s page.
How much is required
Section 7-25-204(3) sets a statutory minimum of $50,000. The amount is not a volume-tier table in Chapter 25. Licensees must keep a qualifying bond for three years after ceasing Utah money-transmission operations, though the commissioner may allow reduction or elimination earlier as outstanding Utah payment instruments decline.
How to get and file it
Authorize a surety in NMLS and have it deliver a $50,000 electronic surety for the Utah money transmitter license. Pair the bond with the other Chapter 25 application items DFI requires, including audited financials showing at least $1,000,000 net worth for the prior fiscal year. Keep the bond in force while licensed and for three years after Utah operations end unless the commissioner permits an earlier reduction. Cancellation requires thirty days’ written notice to the commissioner and does not erase liability already incurred. Renew the license annually through NMLS with the bond still in force.
Cost note
Fifty thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Minimum face
- $50,000 under Utah Code § 7-25-204(3)
- Filing
- Electronic surety bond via NMLS
- Net worth (related)
- Audited net worth of at least $1,000,000 for the prior fiscal year
- Cancellation
- 30 days’ written notice to the commissioner
Related resources
Frequently asked questions
Does Utah scale the money transmitter bond with volume?
Chapter 25 sets a $50,000 minimum without a statutory volume-tier table. Confirm with DFI if your NMLS items or commissioner conditions require more than the minimum on your specific file.
How long must I keep the bond after I stop transmitting in Utah?
Section 7-25-204 requires maintenance for three years after you cease Utah money-transmission operations, unless the commissioner allows an earlier reduction as outstanding Utah payment instruments decline.
Related Utah bond guides
Mortgage Loan Originator Bond
$12,500–$50,000
Utah Department of Financial Institutions mortgage loan originators licensed under Title 70D must be covered by a surety bond under Rule R343-5. Individual amounts run $12,500, $25,000, or $50,000 based on prior-calendar-year origination volume. A qualified employer may elect entity coverage so exclusive originators do not each post a separate bond.
Credit Services Organization Bond
$100,000
Utah credit services organizations must register with the Division of Consumer Protection and post $100,000 of security before conducting regulated credit-services business. Utah Code § 13-21-3 and current Division instructions accept a surety bond or a certificate of deposit in that amount.
Motor Vehicle Dealer Bond
$75,000 / $10,000
Utah motor vehicle dealers must keep a surety bond on file with the Motor Vehicle Enforcement Division for as long as they stay in business. MVED publishes fixed amounts: $75,000 for new or used motor vehicle dealers and $10,000 for motorcycle or small-trailer dealers. Operating without a current bond on file violates Utah Code § 41-3-205.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Utah application
Utah 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 2026-08-11. This guide is based on verified educational content and official sources.
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