What can your bailor use as security for bail?
Security for bail is given or pledged in a few ways:
- Monies in your bailor’s bank savings account – the bank will freeze the bank account or funds and your bailor will not be able to use the account or funds during the period of bail.
- Cashier’s Order
- NETS payment through your bailor’s ATM card and bank account and subject to his daily maximum withdrawal limit
- Pledging your bailor’s personal properties for a bail amount of up to $15,000
- Fixed Deposit or Time Deposit from your bailor’s bank account, provided the funds are not already being used as a form of security for another purpose
The monies and properties pledged by your bailor must belong to him and not you.
Your bailor can only use his sole bank account – a joint account can only be used as security if both account holders are bailors.