Alaska Uniform Money Services Bond
AmeriPro Surety Bonds | 844-589-9732
Alaska uniform money services businesses are engaged in offering money transmission services. The surety bond is also referred to as an Alaska money transmitter bond.
Once purchased from our agency, we’ll electronically file your bond on your behalf to NMLS.
The surety bond requirements are as follows:
- A minimum $25,000 surety bond;
- With an additional $5000 surety bond for each location after the first one;
- However, to have a maximum surety bond amount of $150,000.
Qualifying and the Premium
For any Alaska uniform money services bond up to and inclusive of a $50,000 requirement, you are automatically approved for issuance of this bond after payment of the premium. For these amounts, there is no credit check.
A $25,000 surety bond will have a $375 annual premium; a $50,000 surety bond will have a $750 annually premium. Surety is offered at whatever level required. For these amounts, an application is taken from you over the phone.
For any amount greater than $50,000, the following is needed to issue your bond:
- A completed and signed application which we’ll begin with you over the phone. The application will need your signature and a second one of a Witness (i.e. it does not need to be notarized);
- A review by an underwriter. As part of the review process, a credit inquiry is required. To be approved for amounts greater than $50,000 through our agency good credit will be required.
In all cases, after approval of your bond and payment of the premium, our agency will file your completed bond to NMLS on your behalf.
Premium Prepayment Options
Your bond is issued for a one year term and renews on the anniversary of its issuance.
Whatever the amount, you may prepay your bond’s premium up to 3 years which will offer you a savings over annual renewals of your bond premium.
This option works best for those who don’t anticipate any changes in the number of business locations from one year to the next.
Purpose of Your Surety Bond Requirement
Your Alaska money transmitter bond is a financial guarantee of your professional compliance with the Alaska Uniform Money Services Act, as amended.
AmeriPro Surety Bonds provides money transmission surety bonds nationwide. Our agency is also a provider of license and permit, court, and probate surety bonds in Alaska and all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you…