MEMO financial services bond cost
If you are contracted as an agent and fiduciary for the sale of bill-payment services, prepaid products and/or personal money orders to customers, the MEMO Financial Services New York, Inc. mandates you to post a surety bond.
This specific bond type has a varying amount. Bond amounts are determined by MEMO Financial Services. Contact MEMO Financial Services, Inc. to find out your bond amount.
Be sure to have your given amount on-hand when speaking with a surety specialist. Providing this information can speed up your bonding process and lower your premium.
Why this bond
Bonded principals are obligated to fully comply and perform all duties and obligations of the contracted Trust Agreement. This includes, but is not limited to, paying all money order sale proceeds to MEMO Financial Services New York, Inc.
MEMO financial services bond details
All bonds will remain continuous unless canceled by the surety. If the surety decides to cancel a bond, they must mail a written cancellation notice to MEMO Financial Services Inc. 60 days prior to the deemed cancellation date.
Become an agent or fiduciary
Agency applications must be completed in full and have the following attachments:
- Personal and business financial statements
- Surety bond
- Invoices for vendors
Additional information may be required. Contact MEMO Financial Services, Inc. for additional information.
Apply for your surety bond
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