Any person or entity licensed as a check casher in Massachusetts who cashes checks, drafts, or money orders for a consideration in excess of $1.00 per item. Required when: Obtaining or maintaining a check casher license under M.G.L. c. 169A. Exemptions: Banks (as defined in M.G.L. c. 167, § 1), national banking associ…
Overview
What it is.
Any person or entity licensed as a check casher in Massachusetts who cashes checks, drafts, or money orders for a consideration in excess of $1.00 per item. Required when: Obtaining or maintaining a check casher license under M.G.L. c. 169A. Exemptions: Banks (as defined in M.G.L. c. 167, § 1), national banking associ…
Who usually needs it
Any person or entity licensed as a check casher in Massachusetts who cashes checks, drafts, or money orders for a consideration in excess of $1.00 per item.
Pricing & timing
What to expect.
Generic pricing
Fidelity bonds protect against employee dishonesty and theft. Typical Pricing:. • Standard coverage: Premiums commonly based on coverage amount and number of employees. • ERISA bonds: Matrix pricing based on plan assets — often starting around $100–$300 per year for smaller plans. • Employee dishonesty bonds: Rates vary by coverage level and employee count. ERISA fidelity bonds are required for employee benefit plan fiduciaries. Coverage must equal at least 10% of plan assets handled, up to…
Typical timeframe
Specialized application — typically 1–3 business days
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMABond amountThe licensee must maintain 'adequate' blanket fidelity bond coverage for any of…Term lengthContinuousObligeeMassachusetts Division of BanksRenewalLicensees must maintain the bond in force and report bond details (Insurance Company, Bond Number, Amount, and Expiration Date) in the Check Casher Annual Report due by March 31st each year.Bond classFidelity BondCategoryFinancial ServicesBondBlanket Fidelity BondStatutory referenceM.G.L. c. 169A, § 2; 209 CMR 45.08(2)JurisdictionState
