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Georgia Money Transmitter Bond

The Georgia money transmitter bond is required of transmitter and sellers of financial instruments. AmeriPro Surety Bonds offers you this bond in whatever amount you require. Please call us today at 844-589-9732.

Georgia Money Transmitter Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Money Transmitters – Georgia

 

 

 

Money transmitters in Georgia operate under the state’s Department of Banking and Finance.

As a condition of licensing, both new and existing applicants must furnish the required surety bond with the Department.

AmeriPro Surety Bonds provides the bond amount required.

 

 

 

Georgia Money Transmitter Bond: The Amount Required

 

 

 

The exact amount of the surety bond required for your money transmitter business will be determined by the Department.

According to current rules, the minimum amount required of money transmitters is $100,000.

For sellers of payment instruments, the minimum amount required is $250,000.

However, in no case will the bond amount exceed $2,000,000.

 

 

 

Georgia Money Transmitter Bond: The Purpose

 

 

 

The purpose of this money transmitter surety bond is a financial guarantee that ensures that a money transmitter will be in compliance with all laws governing and regulating professional conduct.

As a current or upcoming Georgia money transmitter, you may wish to familiarize yourself with certain aspects of these laws.

The money transmitter bond protects the public—the people of the state of Georgia — from acts of fraud, theft, malfeasance or misfeasance committed by a money transmitter or related persons in the course of ongoing professional duties.

While the bond’s protection is for the public and required of you for licensing, as principal of the bond, you are always responsible to reimburse the surety for all costs and fees involved in the settlement or resolution of any claim.

 

 

 

Georgia Money Transmitter Bond: Qualifying and The Premium

 

 

 

As you might already suspect, because of this bond’s large size, qualifying for it involves completion of a detailed application.

While, as part of the application process, you will no doubt be asked about personal assets, investments, debt, property owned, and what may seem like a sundry list of other questions, please know that our agency is here to help you qualify for the bond at the best available pricing.

Of course, there will also be a credit check involved in determining the bond’s premium.

Applicants may expect to pay anywhere between 2%-5% for the bond; however, the amount that you will be required to pay will be partly (actually, largely) based on your credit score.

Again, our agency will work to find you the best surety bond pricing.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary bonds throughout Georgia.

Our agency also provides surety bonds on a nationwide basis.

Please call us today at:

 

 

844-589-9732

 

 

 

Or, you may fill out our contact form below,

 

 

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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.

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