Community currency exchange bond cost
We can offers Wisconsin community currency exchange bonds for different costs depending on a review of each applicant’s credit report. The required bond amount varies, and applicants should verify the amount of bond coverage they need with the state.
Our team of experts is dedicated to getting you the bond you need quickly and for the lowest rate possible.Contact one of our surety specialists to receive a free, personalized bond quote within 1 business day of applying. Call 888.610.4474, or click here, to begin the bonding process.
Why this bond
Wisconsin community currency surety bonds are put in place to ensure that professionals in the industry comply with the provisions of Section 218.05 of the Wisconsin Statutes. This bond is a guaranty of payment rather than a guaranty of collection.If you’re ready to get bonded, let our experts do all of the hard work for you! Contact a surety specialist to get your free surety bond quote.
Wisconsin community currency exchange surety bonds will remain continuous unless otherwise canceled by the surety. The surety may be released from liability by giving written notice stating when the cancellation will take effect to the Department of Financial Institutions in Madison, Wisconsin. This notice must be received at least 60 days prior to the effective date of cancellation.
For every additional location of business that the applicant owns or plans to do business at, an additional license must be issued along with a surety bond in the amount of $5,000.
Become a community currency exchange
Community currency exchange licenses must be renewed annually. The initial application fee is $600 ($300 investigation fee and $300 annual fee), and the annual licensing fee is $300. The exam fee is $54/hour.
According to the License, Permit and Registration Services of Wisconsin, applicants must:
- be trustworthy and reputable
- have business experience qualifying the applicant to competently conduct, operate, own or become associated with a community currency exchange
- have a good business reputation
- be worthy of a license
Apply for your surety bond
Get a FREE Wisconsin community currency exchange bond Quote Today! Click here to begin