The Delaware Casher of Checks, Drafts or Money Orders Surety Bond is required by the State of Delaware, Office of the State bank Commissioner. The bond amount required is $5,000 and can generally be written for $100 for the year. The bond is in place for the benefit of all consumers injured by any wrongful act, omission, default, fraud or misrepresentation by a licensee in the course of its activity as a licensee.
What are the requirements in order to get a license?
In the state of Delaware, if you wish to operate as a casher of checks, drafts, or money orders, you must have a license approved by the commissioner. The following requirements (per chapter 287 of the Delaware Code) must be met in order to obtain a license:
- A completed application form which must contain pertinent information such as the name, address of the residence and business location of the applicant.
- Pay a $50 investigation fee as well as $100 license application fee
- Provide proof of liquid assets amounting to at least $5,000
- A Delaware Casher of Checks, Drafts or Money Orders Surety Bond in the amount of $5,000
You can find the application form and further information on the Delaware State Bank Commissioner’s website.
Where can I get a Delaware Casher of Checks, Drafts or Money Orders Surety Bond?
Simply fill out our free online application! One of our licensed agents will then contact you with a no-obligation quote within one business day of your submission. Once any necessary paperwork is signed, and the premium payment is remitted, your Delaware Casher of Checks, Drafts or Money Orders Surety Bond will be shipped via USPS Priority Mail, with overnight shipping options also available.
Surety1 has been writing bonds in Delaware since 2003, so we understand the process and the need for fast, reliable service. We even maintain an A+ rating by the Better Business Bureau! Licensed in all 50 states.