Higher Rate?

[Pacman]

I need a money transmitter bond. The rates I have been quoted are higher than other commercial bonds I've gotten in the past. Is this the norm?

[PT]

Originally Posted by Pacman

I need a money transmitter bond. The rates I have been quoted are higher than other commercial bonds I've gotten in the past. Is this the norm?

It is quite possible that the Money Transmitter Bonds are higher in premium because they tend to be a higher risk for the Surety. However, there are many factors that determine what a rate is for a specific type of bond. We suggest you speak to the representative who handles that type of bond for more specifics.