Bank Teller

[h2o]

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?

[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.

[h2o]

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?

[Bond Magician]

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.

[h2o]

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?

[Bond Magician]

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.

[h2o]

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?

[Bond Magician]

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.

[h2o]

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.

[grasshopper]

Since they placed the requirment on you, you can go back and ask them how much coverage that they would want.