The Department of Banking and Consumer Finance licenses and regulates Mississippi check cashers. A $10,000 surety bond is also required as a condition of licensing. The bond, along with your license, has an annual term which ends on September 30th. Meeting the surety bond requirement takes a few minutes with our agency and the bond is issued to you immediately.
The information we provide here assumes a full year term beginning and ending on September 30th; however the bond can be purchased at any time of the year.
You are automatically approved for the $10,000 Mississippi check casher bond. There is no application as such; it is just a short series of questions as to how you want your bond titled and the address for the bond. After providing this information to us and paying the premium of $100, our agency issues the bond immediately.
Note that there is no credit check nor review by an underwriter in order to qualify; the bond is an “instant issue” surety.
Once issued, we have the bond sent to you for filing with the Department. For an additional payment, the bond can be sent overnight if need.
Regardless of the term, your Mississippi check seller bond will have a September 30th expiration date. At $100, this bond is issued for a standard one year period. The bond and the premium renew on the anniversary.
You have the option to prepay this bond for up to 3 years. Prepayment extends the length between renewals – still with the September 30th expiration date --- and offers you a savings over renewing annually.
The premium prepayment options and savings are as follows:
The bond is a financial guarantee of your compliance with the Mississippi Check Cashers Act; and that you will comply with any and all laws related to your professional business conduct.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Mississippi. Our agency also provides surety bonds nationwide.
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