Earned Wage Access Bond

Why is an Earned Wage Access Surety Bond Required?

Like with any surety bond, an earned wage access surety bond is required to help the state prevent fraud committed by licensed earned wage access providers.

When you get your license, it's a signal to the public that you are a qualified provider of earned wage access services.

The state license department can't police every business they're issuing licenses to, so they use the surety bond as the financial tool to hold all licensed businesses accountable to the law.

Examples of earned wage access fraud can include:

• Charging hidden or excessive fees
• Reporting to credit bureaus when they're not supposed to
• Advancing funds that have not been fully earned yet
• Plus a lot more

If a company who utilizes these services is financially harmed by fraudulent actions, one of the actions they can take is making a claim against the surety bond.

It's important to realize this claim can only be up to the bond amount required in your state.

Click on your state below and learn about the bond amount you must provide.

• Indiana earned wage access bond
• Kansas earned wage access bond
• Nevada earned wage access bond
• Wisconsin earned wage access bond

If you want to go deeper in the surety bond agreement use these resources:

• What is a surety bond deep dive
• What is a surety bond video
• Does a surety bond affect your credit?
• Who does a surety bond protect?

How Much Does an Earned Wage Access Surety Cost?

Earned wage access surety bonds are custom priced bonds.

This means the personal credit of you and any other owner will be a primary factor that determines the price you pay for your bond.

Other factors will include:

• Experience in the financial industry
• The bond history if you or another owner has licensed in the past

From these factors a rate will be quoted and this rate multiplied by your bond amount will be the price you pay per bond term.

Click on your state below and get your exact pricing and learn about the bond term of your state license.

• Indiana earned wage access bond
• Kansas earned wage access bond
• Nevada earned wage access bond
• Wisconsin earned wage access bond

How Long Does It Take To Get Your Bond?

Getting your earned wage access surety bond is a pretty fast process.

From the moment you request us to find you the lowest price to the moment you have the completed surety bond in your hands will take one to two business days.

In most cases you can expect less than one business day.

But to be on the safe side, plan for one to two business days.

We have many clients that wait to the very last moment to purchase their surety bond. While it's usually not an issue, it can be if you don't use the correct name for your bond or if you don't include all of your DBAs that are registered with your license application.

Get started now so you can check the surety bond requirement off your licensing list.

• Indiana earned wage access bond
• Kansas earned wage access bond
• Nevada earned wage access bond
• Wisconsin earned wage access bond