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Wisconsin Community Currency Exchange Bond

How much does a community currency exchange bond cost in Wisconsin?

SuretyBonds.com offers Wisconsin community currency exchange bonds for different costs depending on a review of each applicant’s credit report. The required bond amount varies, and applicants should verify the amount of bond coverage they need with the state.

Our team of experts is dedicated to getting you the bond you need quickly and for the lowest rate possible. Apply for a free bond quote today!

Bond Type Bond Amount Cost*
$5,000+ Community Currency Exchange Bond $5,000+ Starts at 1% Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond form to connect with an expert bond specialist! We’ll walk you through our quick and easy bonding process.

Why do I need this bond?

Wisconsin community currency surety bonds are put in place to ensure that professionals in the industry comply with the provisions of Section 218.05 of the Wisconsin Statutes. This bond is a guaranty of payment rather than a guaranty of collection.

If you’re ready to get bonded, let our experts do all of the hard work for you! Contact a surety specialist to get your free surety bond quote.

What’s the fine print?

Wisconsin community currency exchange surety bonds will remain continuous unless otherwise canceled by the surety. The surety may be released from liability by giving written notice stating when the cancellation will take effect to the Department of Financial Institutions in Madison, Wisconsin. This notice must be received at least 60 days prior to the effective date of cancellation.

For every additional location of business that the applicant owns or plans to do business at, an additional license must be issued along with a surety bond in the amount of $5,000.

How to acquire a community currency exchange license in Wisconsin

Community currency exchange licenses must be renewed annually. The initial application fee is $600 ($300 investigation fee and $300 annual fee), and the annual licensing fee is $300. The exam fee is $54/hour.

According to the License, Permit and Registration Services of Wisconsin, applicants must:

  • be trustworthy and reputable
  • have business experience qualifying the applicant to competently conduct, operate, own or become associated with a community currency exchange
  • have a good business reputation
  • be worthy of a license

Fulfill the first step in the licensing process by getting the surety bond you need. Get started now!

Ready to get started?

Get a FREE Community Currency Exchange Bond Quote Today!

Additional Resources

State of Wisconsin Community Currency Exchange Bond form

Wisconsin State Legislature 218.05 Community currency exchanges.

State of Wisconsin Department of Financial Institutions Division of Banking Community Currency Exchange License Application Instructions

State of Wisconsin Department of Financial Institutions Division of Banking Community Currency Exchange Office Application Instructions

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