Who Requires the Money Transmitter Bond and Why Is It Needed?
A Money Transmitter Bond is a surety bond required by the State of Illinois Department of Financial and Professional Regulation for those engaged in the business of selling or issuing payment instruments, transmitting money, or exchanging, for compensation, payment instruments or money of the United States government or a foreign government to or from money of another government, in accordance with the provisions of the Illinois Transmitters of Money Act.
How Much Will My Surety Bond Cost?
Take 2 minutes to provide the basic information required to get the best rates for your Illinois Money Transmitter 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.
What Does the Bond Protect Against?
The Money Transmitter Surety Bond protects any person or persons who may have a cause of action against the bonded principal related to a violation of the provisions of the Illinois Transmitters of Money Act.
