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Check Casher Bond

  • Apply for your check casher bond quote online
  • Excellent bond rates across all states
  • Bad credit program

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What Is a Check Casher Bond?

If you’d like to provide check cashing services, a number of states would require you to obtain a license and a surety bond. In this way, the relevant authorities ensure you are suitable for the job.

Your check casher bond is a type of license bond. It is required in order to provide an extra layer of protection for your customers against potential fraud and misuse on your side. Harmed parties can demand a compensation by bringing a claim against your bond.

In essence, the bond is a three-party contractual agreement. Your check cashing business is the principal that has to obtain the bond. The obligee is the state authority that imposes the requirement. The surety is the entity providing the bonding.

Questions about Check Casher Bond

Which states require check cashers to obtain a surety bond?

Mississippi

As set in the Mississippi Check Cashers Act, check cashers in the state have to obtain a $10,000 surety bond. There is an official bond form to use. It has to be presented to the Mississippi Department of Banking and Consumer Finance when applying for a state license.

Nevada

Check cashing service providers in Nevada have to get licensed with the Department of Business and Industry. They have to obtain a surety bond in an amount set by the Department and provide it in the official bond form.

Georgia

In Georgia, check cashers who receive payment instruments with payment deferred pending collection have to obtain a $10,000 surety bond. They have to provide it to the state Department of Banking and Finance.

Kentucky

Check cashers in Kentucky need to post a surety bond in an amount set by the state Department of Financial Institutions. This is an indispensable step in the licensing process.

Washington, D.C.

In the District of Columbia, check cashers need a $5,000 surety bond in order to obtain their lciense.

What is the check casher bond’s cost?

The bond amount is the required bond as set by the state authorities which handle the licensing process for check cashers. You have to cover a small percentage of it, called the bond premium. It is formulated on the basis of your finances. Typically, it is between 1% and 5% of the bond amount.

How exactly is your surety bond cost set? Your surety considers a couple of important factors, including your personal credit score, business financials, and assets and liquidity. It has to assess the strength of your profile, so that it can measure the bonding risk. You can expect to pay less for your bond if your overall application is strong.

Check Casher Bond Cost Based on Credit Score
Surety bond name Surety bond amount Above 700 Between 650-699 Between 600-649 Below 599
Mississippi and Georgia $10,000 $100-$150 $100-$250 $250-$500 $500-$1,000
Washington,D.C. $5,000 $100 $100-$125 $125-$250 $250-$500

Can I obtain this bond with bad credit?

Yes, you can get bonded with us even if your finances are not perfect. Lance Surety Bonds has designed and runs its Bad Credit Surety Bonds program for applicants with financial issues such as low credit scores, tax liens, bankruptcies, and civil judgements.

The rates in this bonding program are between 5% and 10%. The premiums are higher since they have to compensate for the increased bonding risk. Due to our close collaboration with numerous A-rated, T-listed surety companies, you can expect a top bonding option with us, whatever your credit score is.

How do I get my check casher bond?

Would you like to learn more about the way bonding works? We have prepared a detailed How to Get Bonded page for further details.

Still have questions? We're here to help. Contact us at (877) 514-5146 to get assistance from one of our bonding experts.

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About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

What Our Clients Have To Say?




Kimberlee Ables
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Andrew Poincot
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
Margie Martinez
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

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