Washington D.C. businesses who are check cashers are regulated by the District’s Department of Insurance, Securities, and Banking.
As is very clear on the District’s website, your licensing and surety bond are filed through NMLS, the Nationwide Mortgage Licensing System.
Upon the purchase of your check casher bond, our agency will electronically file it to NMLS on your behalf.
The Washington D.C. check casher bond is a $5,000 surety bond required per location. This includes any mobile units as well.
Your business is approved for any amount of the D.C. check casher bond up to and including a $50,000 surety bond requirement. There is no credit check. A D.C. check casher bond greater than $50,000, will require a signed application, along with an underwriter review and a credit check inquiry
The premium will be 1 ½%, with a minimum $100 premium (this is for the $5000 surety bond requirement).
When you call us, we’ll just ask you the basics: the name, exactly as it should appear on your bond, along with your contact information.
If you have more than one location, we’ll need the address for the second and third locations, if applicable.
After payment of the premium, your bond is issued. Since there it is electronically filed, there is no documentation to mail to you. You will need to have signed up for NMLS, however, for us to file your bond there.
If you request it, our agency can send you the paper bond for you to file.
The premium associated with your Washington D.C. check casher surety bond renews annually. If you don’t anticipate an increase – or decrease --- in the number of locations before your premium renewal period, our agency allows you the option to prepay your bond’s premium for 2 or 3 years.
Prepayment of your premium allows you a savings over annual renewals. The savings increases for the longer you extend the period between renewals.
Your D.C. check casher surety bond is a financial guarantee of your compliance with D.C. Official Code Chapter 3 which concerns check cashers.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide check casher surety bonds in D.C. and wherever else required, nationwide.
Our agency is an online aggregator of license and permit, court, and probate surety bonds in D.C. and all 50 states.
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