License Minnesota

Electronic Funds Transmission (EFT) Facility Authorization

Electronic Funds Transfer Company exists to provide transmission services including credit/debit card, electronic benefits and other point-of-sale transactions.

Agency contact information:

Commerce, Minnesota Department of
85 7th Place East, Suite 500
St. Paul, MN 55101
(651) 539-1600 | (800) 857-3602
Division of Financial Institutions
(651) 539-1600
Contact Info:


Minnesota Department of Commerce

Money Transmission  

Financial Institutions

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The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.


Minn. Stats. 47.65


Contact the MN Dept. of Commerce at (651) 539-1600.



Evidence of statutory requirements under Minn. Stat. § 47.65.

Review the MN Dept. of Commerce website,  Money Transmission  section, under the ATM tab.


Application fee - $500

Period of Issuance:

Perpetual until suspended or voluntarily surrendered.

Length of Determination Process:

90 days. This is a statutory time frame following receipt of a complete application.

Other Pertinent Information:

Any material changes to the information that was submitted with the initial application must be made within ten (10) days of the change.