West Virginia Currency Transmission License Surety Bond
Currency or money transmission is defined by the State of West Virginia as engaging in the selling or issuing checks or the receiving currency for the purpose of transmitting by wire, facsimile, or other electronic means, or through the use of a financial institution, financial intermediary, the federal reserve system, or other funds transfer network to another party. It also includes the transmission of funds through the issuance and sale of stored value cards which are intended for general acceptance and use in commercial or consumer transactions. Licensed Currency Exchange, Transmissionand Transportation businesses are required to post and maintain a West Virginia Currency Transmission License Surety Bond in one of the following amounts.
$300,000.00 for Currency Transmission by Wire or other electronic means.
$100,000.00 for entities engaged in the Sale of Money Orders and Travelers Checks
Each license also requires an additional $25,000 for each authorized delegate location within the State of West Virginia with an overall maximum bond amount of $1 million.
Get started now! Follow the link below to apply for your West Virginia Currency Transmission License Surety Bond and let our expert staff get the bond you need at the lowest possible price!
We work fast so you can stay focused on your business - Satisfaction Guaranteed!
Need help with your West Virginia Currency Transmission License Surety Bond??
- Call us and let our staff walk you through the process - 800-737-4880
- [EMAIL US] and request one of our staff to call you.