1 (844) 589-9732

West Virginia Money Transmitter Bond

The West Virginia money transmitter bond will have a premium of 1 1/2% of the surety bond amount required. Approval is predicated upon an application and your good credit. Please call AmeriPro Surety Bonds today at 844-589-9732.

West Virginia Money Transmitter Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Money Transmitters – West Virginia

 

 

 

As part of the transmitter licensing process, which is facilitated through NMLS, the Nationwide Mortgage Licensing System, West Virginia money transmitters will obtain one of three surety bond amounts:

  • A $100,000 surety bond if you are licensed for currency exchange, the sale of checks or money orders, or merchants who engage in check cashing only;
  • A $300,000 surety bond if you are licensed for money transmission or transportation;
  • Or in an amount in addition to any one of the above, as described on your surety bond form if the volume of your money transmission exceeded $10 million in the prior calendar, but not to exceed $1 million surety bond.

 

 

 

Qualifying and the Premium

 

 

 

Qualifying for the West Virginia money transmitter bond— which is also known as a money transmission, currency exchange and transportation bond — is by completion of an application and undergoing a credit review inquiry.

The difference between the requirement for the $100,000 surety bond and any other amount is that amounts above $100,000 will also require a recent financial statement as part of the underwriting process.

Good credit is required, and approval for your surety bond will be at a premium of 1 ½% of the amount of the surety bond.

Once the premium has been paid, our agency issues this bond to you immediately. To save time, we also can electronically file your surety bond on your behalf through NMLS.

 

 

 

Premium Prepayment Options

 

 

 

At 1 ½% your West Virginia money transmitter premium is active for one year. Thereafter, your premium renews on the anniversary of its issuance.

Options exist to prepay your bond for up to 3 years, thereby offering you a savings over annual renewals.

Two examples of premium prepayment options are as follows:

$100,000 surety bond:

  • If prepaid for 2 years, the premium is $2700, a $300 savings;
  • If prepaid for 3 years, the premium is $4900, a $600 savings.

$300,000 surety bond (one year is $4500):

  • If prepaid for 2 years, the premium is $8100, a 900 savings;
  • If prepaid for 3 years, the premium is $11700, an $1800 savings.

 

 

 

Purpose of Your Surety Bond

 

 

 

As stated within your surety bond, its purpose is that you will observe all laws related to West Virginia money transmission, and that you will pay any fees, fines, or assessments owed to the Commissioner in a timely manner.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds provides money transmission surety bonds nationwide. We also provide license and permit 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…

 

Request a Callback

  • Date Format: MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your surety bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

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.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Mortgage Broker Bond

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

Indiana Garnishment Bond

Indiana Garnishment Bond AmeriPro Surety Bond | 844-589-9732   Surety Bond; Purpose and Amount   As plaintiff in an Indiana civil court proceeding, the court may allow you, prejudgment, to seize the account, assets, or wages of the adverse party.  The seized...

Indiana Attachment Bond

Indiana Attachment Bond AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   An Indiana attachment order (aka ‘writ of attachment’ or ‘plaintiff’s attachment’) allows you, the plaintiff in a civil litigation proceeding, to seize and take...

Ohio Garnishment Bond

Ohio Garnishment Bond AmeriPro Surety Bonds | 844-589-9732   Surety Bond: Definition, Amount, and Purpose   An Ohio garnishment order allows a plaintiff in a civil litigation proceeding to seize the assets, wages, or accounts of a defendant, prejudgment.  A...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)