Check Casher Bonds

What Is a Check Casher Bond? 

A check casher bond is a type of surety bond required by some states for businesses that cash or sell payday checks, traveler’s checks, or money orders. These bonds financially protect clients if a check casher:

• Mishandles funds,
• Breaks license regulations,
• Or violates other legal obligations. 

We also issue surety bonds for money transmitters in several states.

How Much Do Check Casher Bonds Cost?

Check casher/seller bond premiums are typically 1–10% of the total bond amount, based on personal credit score. For example, an applicant with excellent credit could pay just $100 for a $10,000 check casher bond. 

The state-required bond amount can be anywhere from $5,000–$500,000. Select your state below to learn about local requirements and get a free bond quote.

How Do Check Casher Bonds Work? 

Check seller or casher bonds protect consumers by creating a legally-binding contract between three parties: 

1. Principal: The check cashing business purchasing the bond
2. Obligee: The state government agency requiring the bond
3. Surety: The company issuing and backing the bond

Under this contract, the principal is bound to uphold the obligations of the bond, acting ethically and following laws and regulations. If they fail to do so, harmed parties can file a claim on the bond for reimbursement. 

Who Needs a Check Casher Bond? 

Check casher bonds are required for payday cash checking businesses in the following states: 

• California
• Delaware
• D.C.
• Georgia
• Kentucky
• Maine
• Massachusetts
• Mississippi
• Oklahoma
• Rhode Island 
• Washington
• Wisconsin

If you need a bond for a state not listed above, please contact us at 1 (800) 308-4358. 

How to Get a Check Casher Bond

With SuretyBonds.com, getting a check casher bond is quick and easy. Just follow these simple steps: 

1. Select the bond you need.
2. Submit a quote request form. 
3. Provide any additional information if needed for underwriting.
4. Pay your quote invoice online or over the phone.

For some states, we can upload your bond directly to NMLS on your behalf. In other locations, you must file the bond with the obligee electronically or by mail. 

How Soon Can I Get My Bond?

With SuretyBonds.com, you can get your check casher/seller bond as quickly as same-day. We process most bonds within 24 hours or less, however some applications may require longer underwriting processes. 

How Do I Renew My Check Casher Bond?

You will need to renew your bond annually to maintain an active payday check cashing business license. Typically, check casher or seller bonds remain continuous until canceled. This means you simply need to pay your annual renewal invoice to extend your bond term another year. 

If your bond renewal requires any additional documentation or action, a SuretyBonds.com account representative will contact you with instructions. 

How Do I Update My Check Casher Bond Form? 

If you need to make minor updates to your existing bond form, such as name or address, email this request to [email protected]. We’ll amend your bond with a rider form if possible at no additional cost. 

Can I Get a Check Casher Bond With Bad Credit? 

Yes, you may still be eligible for a check casher bond even with a low credit score. While bad credit may impact your premium rate, we are an agency that works with a variety of surety markets to approve 99% of bond applicants. Apply online now to get started.