How much does a MEMO financial services bond cost in New York?
If you are contracted as an agent and fiduciary for the sale of bill-payment services, prepaid products and/or personal money orders to customers, the MEMO Financial Services New York, Inc. mandates you to post a surety bond.
This specific bond type has a varying amount. Bond amounts are determined by MEMO Financial Services. Contact MEMO Financial Services, Inc. to find out your bond amount.
Be sure to have your given amount on-hand when speaking with a surety specialist. Providing this information can speed up your bonding process and lower your premium.
Bonds are subject to underwriting. This means your bond premium is determined by the financial credentials of your credit report. Send a bond request to apply for your free quote.
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|MEMO Bond||Varies||1-3%||4-8%||10-20%||Apply Now|
Not-so-stellar credit? SuretyBonds.com offers a bad credit program specifically for you! Contact a MEMO bond expert to find out more. Click here or call 1 (800) 308-4358 to get in touch with an expert today!
Why do I need this bond?
Bonded principals are obligated to fully comply and perform all duties and obligations of the contracted Trust Agreement. This includes, but is not limited to, paying all money order sale proceeds to MEMO Financial Services New York, Inc.
Have a question about this bond? Contact a bonding professional by submitting a bond request.
What’s the fine print?
All bonds will remain continuous unless canceled by the surety. If the surety decides to cancel a bond, they must mail a written cancellation notice to MEMO Financial Services Inc. 60 days prior to the deemed cancellation date.
How to become an agent or fiduciary in New York
Agency applications must be completed in full and have the following attachments:
- personal and business financial statements
- surety bond
- invoices for vendors
Additional information may be required. Contact MEMO Financial Services, Inc. for additional information.
Apply for your bond today! Complete our easy online bond request form to take the next step in getting your license.
Ready to get started?