The State of Virginia Corporation Commission, Bureau of Financial Institutions regulates and administers the Money Transmitter and Money Order Sales program and has oversight of the licensing, as well as handling of auditing and consumer complaints. Chapter 19 Title 6.2 of the Code of Virginia, requires any person that is in the business of selling money orders or money transmission services to first obtain a license.
The premium that you pay for a Virginia Money Transmitter Surety Bond is dependent on credit and the bond amount required.
Applications for money transmitters will be investigated by the Bureau of Financial Institutions prior to the issuance of a license.
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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