Understanding Transfer Bonds

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When it comes to taking care of your home and family, a huge priority should be taking care of your money. A few years back, we found ourselves really struggling to make ends meet, and I knew that I had to do something in order to make things work. I started cutting back a little at a time, and I was able to find some extra money in the budget to start saving. This blog is all about creating an excellent financial plan and making things work with what you have. I know that these tips helped me, and I am confident they can make a difference for your family.


Understanding Transfer Bonds

11 January 2023
 Categories: Finance & Money, Blog

Being arrested and charged with a crime is bad enough, but it is even worse when it happens out of state and away from home. When your arrest occurs away from home, you often do not have access to friends, family, or even financial resources you need to post a bail bond. Fortunately, a 24/7 bail bond agent can help you by posting a transfer bond. What is a transfer bond, and how do you get one when needed? Read on for additional information.

What Are Transfer Bail Bonds?

Traditional bail bonds are similar to short-term loans made by licensed bail bond companies and used to release a loved one from jail. The bail bond keeps you from having to come up with the entire amount of the bond before being released from jail.

The amount posted or loaned on your behalf by the bail bond agency varies based on the charges you face and the court's order. In exchange for the company posting the bond, you pay them a premium or interest on the money. 

How Do Transfer Bail Bonds Work?

Transfer bonds work similarly to traditional bonds but are used to release people from out-of-state incarcerations. A licensed bail bondsman arranges the bond in your home state.

Although some bail bond agents maintain licenses in adjoining states, most are not. They cannot post your bond there if they do not have a license in the state the police arrest you in. They must contact a licensed bail bond agent in that state who will work on behalf of your local agent. 

Both the local bail bonds agency and the coordinating agency will need some information to facilitate your release. This information includes:

  • Your name and inmate or detainee number
  • The location of your jail
  • What charges you face
  • The amount of your bail
  • Your scheduled court date

Your friends, family, or loved ones do not have to come to where you are for you to be released. They can sign all of the required documentation and pay the premium locally.

You need to ensure that the court knows you are from out of state. This notification ensures you can return home without fear of violating your terms and conditions of release. 

Are There Additional Fees?

Because you are using two bail bond agencies to facilitate your release and require additional work, your premium will usually be higher for a transfer bond. There may also be an additional fee called a transfer bond execution fee. This fee varies by state. 

For more info, contact a local bail bond agency