1 (844) 589-9732

California Check Seller Bond

The California check seller bond is required of check selelrs, bill payers and proraters. Approval for the $25,000 bond amount is immediate; and for the $500,000 at 1.5% on approval of good credit. Please call AmeriPro
Surety Bonds at 844-589-9732.

California Check Seller Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Licensing of Check Sellers

 

 

 

California check sellers, bill payers, and proraters are licensed by the state’s Department of Business Oversight.

A condition of licensing is that a surety bond (and meeting financial net worth minimums) are required as follows:

  • Bill payers and general proraters require a $25,000 surety bond. They must also have a minimum net worth of $10,000;
  • Check sellers require a $500,000 surety bond and must have a net worth of at least $500,000.

 

 

 

Qualifying and the Premium

 

 

 

The $25,000 California check seller surety bond required of bill payers and general proraters is issued to you immediately when calling our agency. There is no credit check for this smaller of the two surety bond amounts.

When you call us, we’ll take a short application from you over the phone. The questions asked are all very basic: i.e. the name on your bond, and contact information.

After paying the $375 premium, this bond is issued to you immediately for filing.

The $500,000 surety bond requires the following:

  • Completion of a surety bond application, which is both signed and witnessed by one other person;
  • Providing a recent financial statement;
  • Having good to excellent credit.

Approval for the $500,000 surety bond is at 1.5%, $7500 annually.

For both surety bonds, after payment of the premium and receipt of the original bond documents by mail (including a Power of Attorney form), you’ll file it to:

Commissioner of Business Oversight of the State of California

One Sansome Street

Suite 600

San Francisco, CA 94104

415-263-8552

 

 

 

Premium Prepayment Options

 

 

 

The premium for either surety bond amount will renew annually.

You also have the option to prepay your check seller, bill payers, and prorater bond premium for up to 3 years. Doing so, while entirely your decision, will save you over annual renewals.

The premium prepayment option and savings are as follows:

$500,000 surety bond required of check payers:

  • If prepaid for 2 years, the premium is $13,500, a $1500 savings;
  • If prepaid for 3 years, the premium is $19,500, a $3000 savings.

$25,000 bond required of bill payers and proraters:

  • If prepaid for 2 years, the premium is $675, a $75 savings;
  • If prepaid for 3 years, the premium is $975, a $150 savings.

 

 

 

Purpose of Your Surety Bond Requirement

 

 

 

Broadly speaking, the purpose of the check seller surety bond is largely twofold:

  • That your business will be in compliance with all laws and regulations in its dealing with the public;
  • The you will pay any money owed to the Commissioner of Business Oversight, in accordance with the Check Sellers, Bill Payers and Proraters Law.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and probate bonds throughout California and all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out our Contact form and a Surety Agent will call you.

Request a Callback

  • MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your surety bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Mortgage Broker Bond

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

Connecticut Professional Conservator Bond

Connecticut Professional Conservator Bond | AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   The state of Connecticut offers a professional conservator probate program which pays a monthly fee to the appointed conservator on behalf of...

Ginnie Mae Lost Instrument Bond

Ginnie Mae Lost Instrument Bond | AmeriPro Surety Bonds | 844-589-9732 Surety Bond; Amount and Purpose   A Ginnie Mae lost instrument bond, formally known as a Lost Instrument Bond with Limited Liability, is required by this federal agency when a property ---...

West Virginia Attachment Bond

West Virginia Attachment Bond | AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   An attachment order allows a Plaintiff, prejudgment, in a civil case, to seize and take possession of the disputed property held by a Defendant. A...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)