The State of Alabama Securities Commission (ASC) administers the money transmitter- sales of checks and debt management programs and has oversight of the licensing, as well as handling of consumer complaints and auditing. The Code of Alabama 1975, § 8¬-7-3, requires any person, that provides services for a fee or other consideration and is in the business of selling, issuing or otherwise dispensing of checks or receives money for the purpose of paying the customer’s bills, invoices, or account to first obtain a license.
The premium that you pay for an Alabama Money Transmitter Surety Bond is dependent on credit and the bond amount required. Our rates start at 1.5% of the bond amount with good credit. Business and personal financial statements are required for underwriting. Contact our Surety Bond Specialists for a free quote that fits your specific situation.
A money transmitter in license in Alabama must expires March 31 of each year.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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