Rhode Island
Check Casher Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $50,000
Term Length: 1 year
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Rhode Island Check Cashing Bond Guide

If you’re applying for a check cashing license in Rhode Island, you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To protect consumers from mishandling of funds by check cashers
  • Who Needs It: All check cashers that accept deferred payment checks in Rhode Island
  • Regulating Body: The Department of Business Regulation, Division of Banking
  • Required Coverage: $50,000
  • Premium Rate: $500–$5,000 based on credit score

Learn all about the bond requirements and process in this guide.

What Is a Rhode Island Check Cashing Bond?

A Rhode Island check cashing bond protects clients if a deferred payment lender mishandles funds or breaks legal obligations. 

The Rhode Island Department of Business Regulation (DBR), Division of Banking requires this bond as part of the licensing process for check cashers that accept deferred payment checks, also known as payday lenders.

Note: We also issue Rhode Island currency transmitter bonds for money transmission professionals. 

How Much Do Check Cashing Bonds Cost in Rhode Island?

Rhode Island check cashing bonds cost a small percentage of the $50,000 bond amount, typically 1–10%.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$50,000Check Casher Bond

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 Rhode Island check cashing bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll upload the bond form 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 Rhode Island Check Cashing Bond Work? 

As with all surety bonds, a check cashing bond creates a legal contract between three parties: 

  1. Principal: You, the check casher filing the bond
  2. Obligee: The Rhode Island DBR, Division of Banking requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of the Rhode Island Currency Transmission Act.

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 cashing bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

Call 1 (800) 308-4358 to talk with a Surety Expert