Massachusetts Check Seller Bond Guide
If you’re applying for a check seller license in Massachusetts, you’ll need this surety bond.
Bond Overview
- Purpose: To protect consumers from mishandling of funds by check sellers
- Who Needs It: Any person selling, issuing, or registering checks or money orders
- Regulating Body: The Massachusetts Division of Banks
- Required Coverage: $100,000
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a Massachusetts Check Seller Bond?
The Massachusetts Division of Banks requires this bond as part of the licensing process for any person engaged in the business of selling, issuing, or registering checks or money orders.
Check seller bonds protect consumers from financial harm due to fraud, theft or other illegal activities.
Note: If you work as a money transmitter, please visit our Massachusetts money transmitter bond page instead.
How Much Do Check Seller Bonds Cost in Massachusetts?
Massachusetts check seller bonds cost a small percentage of the $100,000 bond amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Massachusetts check seller bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll upload the bond directly to NMLS on your behalf and email a copy for your records.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Massachusetts Check Seller Bond Work?
As with all surety bonds, a check seller bond creates a legal contract between three parties:
- Principal: You, the check seller filing the bond
- Obligee: The Massachusetts Division of Banks requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of 209 CMR 45.00.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your check seller bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
