Money Transmitter Surety Bond
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FAQ
- How much does a money transmitter bond cost?
The price is a portion of the bond amount. You can get a ballpark idea of pricing using our estimate tool. You will need to complete a money transmitter bond application for a firm quote instantly online.
- How long is the application process?
Our application only takes minutes. Our website will provide you an instant quote and allow you to buy your bond directly on our website.
- Will this bond insure me when transferring money?
No. Bonds are not insurance for you. They are protection for the owners of funds being transferred. You will need to contact an insurance company to insure you or your company.
- What if a false claim is filed against me?
You must contact the surety company's claims department and provide proof that the claim is false. Watch our video to find out more about bond claims.
- Can I get bonded in all 50 states?
Yes. We are licensed nationwide and due to our bulk underwriting programs, we can provide higher surety credit limits than most other bond agencies. This usually allows you to get bonded in all states.
- Do I get the bond premium back?
No. The bond premium is a fee you pay for the surety credit extended to you. The premium fee is in place for the risk assumed by the bonding company. Cancelling your bond may result in a pro-rated returned premium, but never for the first year. Premiums paid for the first year are "fully earned".
- How can I lower my rate?
Unlike most bonding agencies, we underwrite based off of personal credit alone. As you improve your credit, the lower your rate will fall. Although, rates will only be credit based for smaller bond amounts. Larger bonds require review of the owner(s) personal credit, business credit, experience and personal financials. All must be strong for a lower rate. For more details, watch our video and learn how to get the lowest rate.
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