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Thread: Bank Teller

  1. h2o
    h2o is offline Senior Member
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    Bank Teller

    I was applying for a teller position at a bank and was told if hired I would need a bond. What type of bond are they asking me to get and what is the purpose?
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  2. Surety Wizard
    Surety Wizard is offline Senior Member
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    the bond they are probably asking you to obtain is a Fidelity Bond. That bond is for people that deal with large sums of money. Unfortunately, we no longer handle that type of bond in our office.
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  3. h2o
    h2o is offline Senior Member
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    Bank Teller

    Quote Originally Posted by Surety Wizard
    the bond they are probably asking you to obtain is a Fidelity Bond. That bond is for people that deal with large sums of money. Unfortunately, we no longer handle that type of bond in our office.
    Can you recommend where I might be able to get a fidelity bond from?
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  4. Bond Magician
    Bond Magician is offline Senior Member
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    Bank Teller

    Quote Originally Posted by h2o
    Can you recommend where I might be able to get a fidelity bond from?

    Your best bet would be to contact a local insurance agency. Fidelity bonds are a form of insurance, so an insurance agent will be familiar with this type of bond.
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  5. h2o
    h2o is offline Senior Member
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    Bank Teller

    Quote Originally Posted by Bond Magician
    Your best bet would be to contact a local insurance agency. Fidelity bonds are a form of insurance, so an insurance agent will be familiar with this type of bond.
    Are these expensive or difficult to get?
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  6. Bond Magician
    Bond Magician is offline Senior Member
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    Bank Teller

    Quote Originally Posted by h2o
    Are these expensive or difficult to get?
    These types of bonds are very easy to obtain and they are relatively inexpensive compared to other types of surety bonds. You will need to know what your total number of employees and officers are. You will also need to choose what amount of coverage is right for you.
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  7. h2o
    h2o is offline Senior Member
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    Bank Teller

    Quote Originally Posted by Bond Magician
    These types of bonds are very easy to obtain and they are relatively inexpensive compared to other types of surety bonds. You will need to know what your total number of employees and officers are. You will also need to choose what amount of coverage is right for you.

    Will they need to do a criminal background check on me?
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  8. Bond Magician
    Bond Magician is offline Senior Member
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    Bank Teller

    Quote Originally Posted by h2o
    Will they need to do a criminal background check on me?

    No, this is no criminal background check and this type of bond is not based on the owner's personal credit. The way the premium is calculated is by the total number of employees and the amount of coverage that you need.
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  9. h2o
    h2o is offline Senior Member
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    Bank Teller

    Quote Originally Posted by Bond Magician
    No, this is no criminal background check and this type of bond is not based on the owner's personal credit. The way the premium is calculated is by the total number of employees and the amount of coverage that you need.

    How do I determine how much coverage I need? The bank simply told me I needed to be bonded if they hired me.
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  10. grasshopper
    grasshopper is offline Senior Member
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    Since they placed the requirment on you, you can go back and ask them how much coverage that they would want.
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