Mississippi Money Transmitter Bonds

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Money Transmitter Bonds And Getting Your Mississippi Business License/Registration

The set license period for Mississippi Money Transmitters is April 1st to March 31st and is not pro-rated for application made during the license period.

The minimum requirements for the license are as follows;

1. Payment of investigation fee and initial license fee including applicable fee for additional locations
2. Submit Financial Statement showing net worth of at least $25,000 plus $15,000 for each additional location; max required net worth is $250,000
3. Furnish a Surety Bond in the bond amount of $25,000 or in an amount equal to outstanding money transmissions in Mississippi, whichever is greater, but in no event shall the bond exceed $500,000. In lieu of a corporate Surety Bond, the state will accept proof of a government bond or Certificate od Deposit equal to required amount
4. Register with the Mississippi Secretary of State
5. Provide list of locations and sample of instruments sold
6. MSB FinCEN registration
7. Submit certificate of good standing from state originally incorporated
8. If a corporation, provide copy of Articles of Incorporation (with amendments). If LLC, provide Articles of Organization and Operating Agreement
9. Secure and submit fingerprint cards as directed by the Department of Banking and Consumer Finance
   
   

Additional Mississippi Money Transmitter Bond Resources & Links

Mississippi Department of Banking and Consumer Finance Money Transmitters

Department of Banking and Consumer Finance
P.O. Box 12129
Jackson, MS 39236-2129