The Alabama Securities Commission is responsible for the oversight, licensing, consumer protection, auditing and enforcement of the Sale of Checks Act which includes Sale of Checks service provider and Money Transmitters. The Code of Alabama 1975, 8-7-3 through 9 Monetary Transmission Act ensures that any person that provides services for a fee and are in the business to issue, sell or dispense of checks or receive money for the purpose of paying bills, invoices or other accounts, and transmission of funds must first obtain a license.
The premium that you pay for an Alabama Sale of Checks or Money Transmitter Surety Bond is dependent credit and the bond amount required. Our rates start at 1.5% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.
Each location business location the applicant owns for the purpose of selling checks requires a separate bond.
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.
For a downloadable application