Title: Currency Exchange Registration
Description: Any person engaged in the business of cashing checks, drafts, money orders or travelers’ checks for a fee, except a bank, trust company, savings bank, savings association, credit union, or industrial loan and thrift company. “Currency exchange” does not include a person who provides check cashing services incidental the person’s primary business if the charge for cashing a check or draft does not exceed $1 or one percent of the value of the check or draft, whichever is greater. See Minn. Stat. Chapter 53A
and Minn. Rule 2872.0100
Companies whose main office location will NOT
be engaging in Minnesota currency exchange activity should submit a MN Currency Exchange Registration New Application. Minnesota Department of Commerce
Subject: Currency Exchange
Creation Date: 9/11/2008 2:12:09 PM
Modification Date: 6/10/2010 9:46:16 AM
Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description: 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.
Agency Phone: 651-539-1600
Agency Fax: Agency URL: https://mn.gov/commerce/
85 7th Place East, Suite 500
Division Name: Financial Institutions Divisions
Division Phone: 651-539-1570
Division Fax: Division URL:
Application URL: https://mortgage.nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=MN
Renewal URL: https://mortgage.nationwidelicensingsystem.org/slr/common/renewals/Pages/default.aspx
The Minnesota Department of Commerce licenses and regulates individuals and businesses that cash checks, transmit money, own and operate ATMs, and provide electronic funds transfers.
Individuals and business who currently have a currency exchange license will need to register with NMLS
Individuals and business who own or maintain an ATM will need to register with NMLS
Forms: Go to NMLS
Currency Exchange & Check Cashers initial application fee - $1,500
Amendment ot license - $100
Period of Issuance:
Expires December 31 annually. See the renewal information in the requirements section above.
Length of Determination: 30 days.
Activity: Loans (Non-Bank Lenders)
License Detail URL:
License Lookup Directory