North Dakota — Money Transmitter - NMLS Bond
The North Dakota Money Transmitter NMLS Bond is a financial security requirement for businesses engaging in money transmission activities within the state. This bond is managed through the Nationwide Multistate Licensing System (NMLS) to ensure licensees maintain financial responsibility while operating under the North Dakota Department of Financial Institutions.
Continue to our secure checkout partner, Propeller (opens in a new tab).
- Recorded state
- North Dakota
- Bond type
- Money Transmitter / Money Services Bond
- Category
- Financial services
What this bond does
The bond serves as a financial guarantee that a money transmitter will adhere to the provisions of North Dakota Century Code Chapter 13-09.1. It acts as a regulatory tool for the Commissioner to oversee the financial integrity of entities that sell payment instruments, issue stored value, or receive money for transmission.
- Who needs it
- This bond is intended for individuals, corporations, and other business entities that provide money transmission services, including payroll processing and digital money services, to persons located in North Dakota. Exemptions exist for federally insured depository financial institutions, government agencies, and certain registered brokers or dealers.
- Who it protects
- The bond provides a mechanism for the North Dakota Commissioner of the Department of Financial Institutions to regulate compliance and protect the public interest. It supports the oversight of licensees' financial health and business conduct, ensuring entities remain compliant with state and federal regulations governing money services businesses.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- North Dakota Century Code Chapter 13-09.1 Money Transmitters (opens in a new tab)Checked October 18, 2026
Have these ready
- Compile detailed business records, including audited financial statements for the two most recent fiscal years.
- Prepare comprehensive background information, including criminal history and material litigation records for all key individuals and persons in control.
- Register and submit all application materials, including the bond, through the NMLS as prescribed by the North Dakota Commissioner.
- Pay the required nonrefundable application fee of four hundred fifty dollars and the licensing fee of four hundred dollars.
Questions about this bond
Who is required to obtain this bond?
Any person or entity engaged in the business of money transmission in North Dakota is required to be licensed and bonded, unless specifically exempted under North Dakota Century Code section 13-09.1-02.
How do I renew my money transmitter license?
Licenses must be renewed annually by December 31st. The renewal process involves submitting a report and a fee based on the licensee's money transmission dollar volume in North Dakota.
Does the state provide information on filed bonds?
Yes, the Department of Financial Institutions makes the terms of filed bonds available to the public, though sensitive information like premiums and fees is redacted for confidentiality.
What happens if a key individual changes?
Licensees are required to provide notice to the Commissioner within fifteen days after a key individual is added or replaced, with detailed background information provided within forty-five days.