1 (844) 589-9732 info@ameriprosuretybonds.com

Maine Money Transmitter Bond

The $100,000 Maine money transmitter bond is offered by AmeriPro Surety Bonds at 1.5% annually. Prepayment options offer an even greater savings. Please call us today at 844-589-9732.

Maine Money Transmitter Bond

AmeriPro Surety Bonds | 844-589-9732

Maine — The way life should be…

 

 

 

Maine Money Transmitter License

 

 

 

Requirements for the Maine money transmitter license seem to be spelled out easily enough, though the Department of Professional & Financial Regulation is also careful to provide a disclaimer as to the accuracy of these licensing requirements.

Current regulations for Maine-based money transmitters also requires candidates to obtain a $100,000 surety bond as a condition of licensing.

Your money transmitter surety bond will have an expiration date of December 31st.

While the bond’s premium may be prorated by our agency depending on its purchase date, our writing below assumes a money transmitter bond with a full one year term; that is, from December 31st to December 31st.

 

 

 

Qualifying and the Premium

 

 

 

Qualifying for the $100,000 Maine money transmitter bond – also statutorily referred to by the state as a “security device” —- involves completion of an application and an underwriter review.  Our agency will begin the application with you over the phone; however, its completion will require your signature and that of a “witness”.

Thereafter, your application is reviewed by an underwriter. The review process includes a professional or personal credit inquiry. Good credit is required for approval, and the rate is 1.5%, $1500 annually.

Upon payment of the premium, our agency will issued the bond to you immediately. Your surety bond, along with a Power of Attorney (POA) form and a notarized document from the Surety will be mailed to you.

Upon receipt, you’ll have your bond notarized and signed as Principal. You’ll file all of the completed documents to:

State of Maine, Office of Consumer Credit

35 State House Station

Augusta, ME 04333

 

 

 

Premium Prepayment Options

 

 

 

The $1500 premium associated with your Maine money transmitter bond is active for one year. Our agency also provides you with the opportunity to prepay your surety bond’s premium up to 3 years.

Premium prepayment saves you money over annual renewals; and also lengthens the time between renewals.

The premium prepayment options and savings are as follows:

  • If prepaid for 2 years, the premium is $2700, a $300 savings;
  • If prepaid for 3 years, the premium is $3900, a $600 savings.

 

 

 

Purpose of Your Surety Bond

 

 

 

Maine money transmitters – and check cashers/money orders/travelers checks are regulated by Title 32, Chapter 80 of Maine’s Revised Statutes.

The bond is a financial guarantee of your compliance with all such regulations and any future legislative amendments.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds provides money transmitter surety bonds nationwide. We are also a provider of license and permit surety bonds in all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and an agent will contact you…

 

Apply Today!

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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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Office: 1 (844) 589-9732

Email: info@ameriprosuretybonds.com

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)