Ohio Money Transmitter Bonds

A Money Transmitter Bond is a type of surety bond required for those having applied for a continuous license to conduct the business of receiving and transmitting money in the State of Ohio as mandated by law under Section 1315.07 of the Ohio Revised Code. The surety bond is for the benefit of individuals who deposit money, or its equivalent, with the bonded money transmitter or any agent used for transmission of money. The bonded transmitter is obligated to faithfully hold and transmit all money in accordance with the laws of the State of Ohio in order to satisfy the surety bond requirement.