Missouri Money Transmitter Bond
AmeriPro Surety Bonds | 844-589-9732
Money Transmitters – Missouri
Money transmitters or money order providers in Missouri are regulated by the Missouri Division of Finance.
The filing of the required surety bond is accomplished through the Nationwide Mortgage Licensing System, NMLS.
We provide you the surety bond that you require.
The Licensing Term
The term for the Missouri money transmitter license is currently between April 16th through April 15th.
Missouri Money Transmitter Bond: The Amount of Surety Bond Required
The Missouri money transmitter surety bond required is as follows:
- A minimum of $100,000 surety bond;
- Or, an amount that is 5 times the high outstanding / or daily transmissions checks from the prior calendar year, with a maximum surety bond amount of $100,000.
Below, we offer a way in which some applicants will qualify for the $100,000 money transmitter surety bond amount for a flat price and without a credit check.
Qualifying for this Bond:
Applicants for this surety bond will qualify by submission of an application, business and personal financial statements, along with a standard credit check.
As a broad general rule, a well-qualified applicant may pay 1.5% of the amount required; however, based upon credit and financial statements, that amount may vary.
Our agency will work to find you the fairest surety bond pricing.
How to Qualify for the Missouri Money Transmitter Bond Without a Credit Check
For the $100,000 Missouri money transmitter bond amount only, our agency offers you a way to qualify for one flat fee and no credit or underwriting of your bond.
To qualify, you must be able to affirm all of the following:
- That you have never had a felony conviction;
- That any companies owned or operated by you have never become or insolvent or gone bankrupt;
- That you have never had a surety bond declined, canceled, or one in which a claim has been filed;
- That there are no outstanding or unsatisfied liens, judgments, or lawsuits against you or any company over which you have control;
- That you understand that this bond is not a coverage for environmental or pollution exposures;
- Finally, that you been in business continually under the same name, location, and ownership for at least 3 years.
For those who qualify, the following pricing is offered by our agency to you:
- $1500 for one year;
- $2700 if prepaid for 2 years;
- $3900 if prepaid for 3 years.
If you do not qualify for this pricing, then you will undergo the normal underwriting procedures for many surety bonds.
The purpose of the Missouri money transmitter bond is a financial guarantee that ensures that you will be in compliance with all laws, regulations, and statutes governing the money transmittion, sale of checks, and money order business.
The bond protects Missouri consumers and the licensing authority from any failure of a money transmitter to comply with the law and which in turn results in harm.
As principal for this bond, you must indemnify the surety for any claims paid against your bond, if such were the case.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, fiduciary, and court surety bonds throughout Missouri.
Our agency also provides surety bonds nationwide.
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