Utah Money Transmitters are required under the Utah Code Annotated section 7-1-501(8)(c) to file a Utah Money Transmitter Bond as a condition of licensure.
Bonds Express offers a Utah Money Transmitter 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 Utah Money Transmitter Bond holds you accountable for your business decisions.
By possessing a Utah Money Transmitter Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.