Missouri Money Transmitter Bond

A Missouri Sale of Checks and Money Transmitter Bond is a type of surety bond required by the Missouri Department of Finance in order to obtain a Sale of Checks and Money Transmitter License. In other states, this license may be called money remitter, money services business, check casher, or sales of check license. Visit our State-by-State Guide to Money Transmitter Bonds to see each state’s money transmitter surety bond requirement.

While the license and surety bond is a requirement of the Missouri Department of Finance, the application for the license is processed by the Nationwide Mortgage Licensing System (NMLS). Any individual, partnership, association, trust or corporation who transmits fiat currency is required to be licensed. The Sale of Checks and Money Transmitter License authorizes the following activities in the state:

• Electronic money transmitting
• Issuing Travelers Checks
• Issuing money orders
• Bill paying
• Issuing and/or selling drafts
• Issuing prepaid access/stored value

The surety bond in the amount of $100,000 is just one of the license requirements. A complete license application check list can be found here.

Why Do I Need This Bond?

The Missouri Sale of Checks and Money Transmitter Bond is required to protect the public. In basic terms, it guarantees your business will adhere to all laws and requirements in your industry. In the event your business conducts unlawful acts, a consumer of your services may file a claim on the bond. Nearly any company that offers payment services requires a money transmitter bond. The bond does not protect the licensee. If a claim is made on the bond, the surety company will expect the licensee to hold it harmless.

How to obtain a Missouri Sale of Checks and Money Transmitter Bond

At Surety1.com we make it easy to apply for this, and all your surety bond needs. Our simple process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Missouri Sale of Checks and Money Transmitter Bond will be shipped tot he principal (licensee) for signature. Once signed, the bond must be uploaded to the NMLS and mailed to the Missouri Department of Finance.
^{1 – The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2 – Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required.} 

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003. We also maintain an A+ rating from the Better Business Bureau.