Who Requires the Check Cashing or Deferred Deposit License Bond and Why Is It Needed?
Deferred Deposit Originators, defined as anyone who offers, originates or makes a deferred deposit transaction in California must obtain a $25,000 surety bond to legally conduct business in the state. Deferred deposit transaction means a transaction where a person defers depositing a customer’s personal check until a specific date, pursuant to a written agreement, as provided for in the California Financial Code Section 23035. The practice is commonly referred to as pay day lending.
How Much Will My Surety Bond Cost?
Take 2 minutes to provide the basic information required to get the best rates for your California Check Cashing or Deferred Deposit License Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.
If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.
