Which Payment Types are Accepted By Bail Bondsmen?

These days, there are literally hundreds of payment methods available, from innovative online methods like Apple Pay, Venmo, and PayPal, to standard types like cash, check, credit, debit, money wires, and money orders. But when it comes to paying for bail bond, you do not have as many options, and for good reason.

Continue reading to learn how you can pay for a bail bond in Indiana, and what you need to know to get started on your loved one’s release from jail right now. That’s right; you can get started now, no matter what time of day or night, and even if it’s a holiday.

Indiana Bail Bondsman 317-876-9600
Indiana Bail Bondsman 317-876-9600

What a Bail Bondsman Does For You

To understand why bail bond agents choose to accept the types of payment methods they do, it helps to learn what it is they actually do for you when you retain their services. A bail bondsman takes on a risk acting as a surety for your loved one’s jail release conditions. You see, a bail bondsman pays the entire bond amount upfront, and then after the defendant has satisfied all court appearances, the bail bondsman is refunded by the jails. You, as the client, only pay a fraction of the entire bond amount as the service charge for the bail bondsman’s effort.

For example, if your loved one’s bail is set at 10 thousand dollars, the bail bondsman will go to the jail and front this entire amount for your loved one’s release on bond. You pay a non-refundable fee calculated based on your loved one’s bail, which is a state-regulated percentage. Here in Indiana, bail bond companies are allowed to charge anywhere between 10% and 15% of the total bail amount. In the given example, you would owe something between 10% and 15% of $10,000, which would come out to be between $1,000 and $1,500. Again, this fee would be non-refundable. Now, so long as the defendant appears for all scheduled court hearings, and does not flee the state or break any terms and conditions of the bail bond agreement, the bail bondsman receives all of the money back from the jail. This is how they act as a surety, ensuring that the defendant appears for court and does not skip bail.

How to Pay a Bail Bondsman

Bail bondsmen do not take the usual forms of payment, but the classics are always accepted, such as cash and money order. It is very unlikely for a bail bondsman to accept credit card payments, unless you are doing a debit transaction, which processes the payment directly as cash. Since it is obvious that not everyone has thousands of dollars of cash available to hand over, and since some criminal charges have enormous local county bail bond schedules in the tens of thousands of dollars or more, bail bond companies do accept other, more reasonable forms of payment, such as collateral.

Collateral For Bail Bonds

Collateral is any form of asset, whether it’s cash, property, vehicles, or something else of equal value that is held onto by a person lending a service or product. There are numerous forms of collateral a client can offer in place of, or in addition to, cash. Most types of collateral are significant, tangible assets, such as real estate and motorized commodities. However, other possible forms of collateral accepted by bail bond companies may include investment bonds, bank accounts, stocks, personal credit, credit cards, jewelry, certified heirlooms, and although very rate, certified heirlooms or highly “pawnable” items.

Where to Get the Cheapest Bail Bonds in Indiana Right Now

Woods Bail Bonds is currently offering 8% bail bonds in Indiana! This rate is the lowest it has been in years, and is only available at our Indiana bail bond company! That means you only pay 8% of your total bond amount, rather than the standard 10 to 15% rates required across the state. In order to qualify for this low rate, you must meet certain criteria. Best of all, we serve over 33 Indiana counties with reliable, 24 hour bail bonds, even on National holidays. Call 317-876-9600 to talk to a friendly and knowledgeable Indiana bail bondsman to learn if you can qualify for 8% bail bonds in Indiana!

Indiana Bail Bonds 317-876-9600
Indiana Bail Bonds 317-876-9600
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