If you are engaged as a money transmitter in Ohio you are required under Section 1315.07 of the State of Ohio Revised Code to file an Ohio Money Transmitter Surety Bond as a condition of licensure.
Bonds Express offers an Ohio Money Transmitter Surety Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Ohio Money Transmitter Surety Bond holds you accountable for your business decisions.
By possessing an Ohio Money Transmitter Surety Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.