Tennessee Money Transmitter Bond The Money Transmitter Surety Bond is required by the state of Tennessee Department of Financial Institutions. This Bond indicates the applicant has applied for a license as a Money Transmitter. Through application, the principal agrees to meet and maintain all requirements of the Department of Financial Institutions to establish financial responsibility. The applicant also agrees to pay the state all monies for which it is not entitled as well as full compliance with all local and state laws.