Can I Make Money as a Notary?

Can I Make Money as a Notary?

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You probably never knew notary publics existed until you needed one. Notaries are used for official business and are sometimes hard to find. Their basic function is to be an impartial witness to the signing of important documents. If you have witnessed the signing and stamping of documents by a notary, you may have thought about becoming one. After all, the job seems pretty easy. Although the job may appear easy, making good money as a notary is not as simple.

Becoming a Notary

How to become or renew as a notary depends on what state you live in. Notaries are appointed by the state, and the requirements can usually be found on the Secretary of State’s webpage. Every state requires you to fill out an application, pay a fee and get sworn in. In addition, you may be asked to take an exam, purchase insurance and meet any number of requirements. When you get sworn in, you will receive your stamp and official documentation. It is important to learn how to execute your job correctly since you are working with official documents and in many cases, government agencies. There could be consequences for completing the job incorrectly, which is why insurance is sometimes required and often encouraged.

Paying and Charging Fees

Before you decide whether to become a notary, compare the cost you must pay to the fees you can charge. Again, each state is different. The amount you can charge is regulated by the state and can vary from $2 to $10 per signature. The costs associated with becoming a notary can add up. At the very least, you will need to pay the application fee and the cost for your seal, which is around $40. In addition, you may need to purchase a surety bond and insurance. You could be required to pay for an exam and a background check. How many signatures will you need to get before the position becomes profitable? This is a major factor to consider. Especially if you are working on your own, and not as an additional service for an established business.

Staying Busy

If you want to be profitable as a notary then you must stay busy. Most customers will only need your service one time, so you need to constantly be finding new opportunities. It is best to connect with businesses that regularly require notaries. This way they can feed you a steady stream of customers. Banks, real estate offices, tax professionals and car dealerships are often in need of a notary. It takes a lot of regular business to make money this way. So set these connections up before you take the plunge.

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