The Rhode Island Money Transfer Bond is required by the Department of Business Regulation in the amount of $50,000. An additional $5,000 for each agent location subject to an aggregate maximum of $150,000. The bond states that the bondholder shall conform to and abide by Title 19 of Rhode Island’s General Laws. In addition, they shall obey the rules and regulations made by the Director of Business Regulation.
Electronic Money Transfer means receiving money for transmission within the United States or to locations abroad. This is through any means, including, but not limited to, wire, facsimile or other electronic transfer systems. All who wish to be in this profession must be licensed with the State. The Rhode Island Money Transfer Bond is one of the licensing requirements.
Applicants must go through the Nationwide Multistate Licensing System, NMLS. Aside from the surety bond, applicants must also prepare the following:
First, start the process by completing our, easy to navigate, free online application form. You will be contacted shortly by one of our surety experts with a no-obligation quote for on your bond premium. When you’re ready to proceed, we will collect the premium paper and have you sign the agreement. After that, we will mail your Rhode Island Money Transfer Bond to you through USPS Priority Mail. Overnight is also available.
You can trust our company, Surety1, as we are one of the best in the business. We have a lot of experience in the industry, having started in 2003. Although our headquarters are located in California, we cater to clients from all 50 states.
Over the years, we have earned the trust not only of thousands of clients but of corporations like Better Business Bureau, who have entrusted us with an A+ rating for our impeccable and fast service. Contact us today as our friendly agents are always willing to help with your surety bond needs.