Illinois Money Transmitter Bonds
Illinois Money Transmitter Bond Information
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.
What does a Money Transmitter 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.