The State of South Carolina Attorney General, Legal Services Division regulates and administers the Money Transmission program and has oversight of the licensing, as well as handling of auditing and consumer complaints. Chapter 11 Section 35-11-200 of the Code of Laws of South Carolina requires any person that is in the business of advertising or providing money transmission services and currency exchanges to first obtain a license.
The premium that you pay for a South Carolina Money Transmission Surety Bond is dependent on credit and the bond amount required.
The SC Anti-Money Laundering Act has not given a date when the new act will go into effect. The Act was supposed to have begun June 9, 2017 but that date has now been pushed back.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. 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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