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Money Transmitter/Check Seller License Bonds
Since 2001, Scott Bond Services has worked with numerous Money Transmitters, Check Sellers, Stored Value Card Issuers, and Currency Exchanges to satisfy their surety license bond needs. We are able to write these bonds in all states that require them. Our outstanding service and attractive pricing have made us an industry leader in this field. We currently serve clients nationwide with over $80,000,000 of these bonds in force.
We are a correspondent member of National Money Transmitters Association.
Our pricing varies based on the experience, credit, and financial condition of the client, but annual costs typically range from 1.5-2% of the bond amount with preferred pricing as low as 1%. Substantial discounts can often be offered when bonds are prepaid in three year terms.
You can begin the process by completing the questionnaire found below and faxing it, along with the following underwriting items, to us at 434.832.2287 or by giving us a call to discuss your particular situation.
Required Underwriting Items
- completed questionnaire
- a brief description of how funds flow from sender to recipient
- latest FYE CPA audited financial statement
- resumes and personal financial statements on the business owners
Scott Bond Services 800.365.0101
Fax 434.832.2287
Primary Contacts
Cary McFadden 434.832.2111 cmcfadden@scottins.com
Joanna Carson 434.832.2293 jcarson@scottins.com
Steve Dolin 434.832.2198 sdolin@scottins.com
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