AmeriPro Surety Bonds provides the Oregon transmitter bond for both first-time applicants and those who require the surety bond as a condition of licensing renewal.
Oregon money transmitters are regulated by the Oregon Division of Financial Regulations.
Money transmitters are involved in accepting payments for bills --- for example, telephone, gas, and electric bills --- and transmitting money within the United States or internationally for a fee.
Oregon money transmitters may also:
To be involved in the money transmitter business in Oregon, one must be licensed by the Department.
Money transmitters are not required to attend a pre-licensing seminar or pass an exam.
And while Oregon, via the Division of Financial Regulations, issues the money transmitter license, the application itself is submitted online via NMLS.
The following, though not all encompassing, are required to become an Oregon money transmitter:
Money transmitters in Oregon are required to obtain an Oregon money transmitter bond.
The following is relevant:
The purpose of the Oregon money transmitter bond is to protect the consumer from any acts of fraud, or criminal activity committed by a licensed Oregon money transmitter company, or its employees, and officers, in the course of their duties.
As such, the bond is not a liability policy.
Its purpose is to protect the consumer, or the public, from acts of malfeasance.
The cost of the money transmitter bond will be determined by:
A $25,000 Oregon money transmitter bond may have a premium as low as $500 annually.
Once issued, the money transmitter surety bond is active for one year and renews on an annual basis.
AmeriPro Surety Bonds is a surety bonds-only agency which provides surety bonds of all types throughout Oregon.
We know that there are other very good and reputable agencies out there.
We thank you for choosing to allow us to work for you.