PSO / AEP electric deposit bonds.
From $100. Enter your amount.
Instead of tying up cash, Public Service Company of Oklahoma (PSO), doing business as American Electric Power and serving eastern and southwestern Oklahoma out of Tulsa, lets a customer post a surety bond to secure an electric-service account in place of a cash deposit. PSO sets the deposit amount from your expected usage or billing history; premiums are priced at 2% of the bond amount, with a $100 minimum.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver it to PSO. Here is the whole thing:
Apply online
Your AEP account number, the address where service is being established, the deposit amount PSO required, and the effective date.
Issued on the spot
No waiting — the executed bond is generated as soon as you pay. The application collects no credit information; if a check ever runs on a larger amount, it is a soft pull that never touches your score.
Deliver to PSO
Submit the executed bond to Public Service Company of Oklahoma in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
When you open or hold an account with Public Service Company of Oklahoma (PSO), an American Electric Power operating company, the utility can require a security deposit against unpaid bills — standard practice for a new account, an account with a spotty payment history, or an account reclassified after a late payment. Rather than leaving cash on deposit, a customer can post a utility deposit surety bond for the same amount — PSO is protected, and the customer's money stays in their business or household.
It is a three-party arrangement: you (the principal), the surety carrier, and PSO (the obligee). If the account goes unpaid, PSO can recover the unpaid balance against the bond, up to the deposit amount it set.
It is not insurance for you — if the surety pays a claim, you repay the surety. For most customers the bond is simply a cheaper way to satisfy a deposit requirement than tying up the full amount in cash. We price PSO's amount at 2% of the bond amount, $100 minimum; the application collects no credit information.
You need this bond if you are
One application, issued the moment you pay.
Submit the application with your AEP account number and the deposit amount PSO set — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Oklahoma bonds.
Bond your electric deposit, keep your cash.
Premiums from $100. Enter the amount PSO set and deliver the same day. Free until issued.