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Minnesota
Currency Exchange Bond

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Coverage Amount: $10,000
Term Length: 1 year
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Minnesota Currency Exchange Bond Guide

If you’re applying for a currency exchange license in Minnesota, you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To protect creditors from potential liability if a currency exchanger breaks laws
  • Who Needs It:  Currency exchange licensees in Minnesota 
  • Regulating Body: The Minnesota Department of Commerce
  • Required Coverage: $10,000
  • Premium Rate: 1–10%, credit-based

Learn all about the bond requirements and process in this guide. 

What Is a Minnesota Currency Exchange Bond?

A Minnesota currency exchange bond holds currency exchange licensees financially responsible for upholding state laws and regulations. 

The Department of Commerce requires this bond as part of the licensing process for all currency exchangers in Minnesota. 

How Much Do Currency Exchange Bonds Cost?

Minnesota currency exchange bonds cost a small percentage of the $10,000 coverage amount, typically 1–10%.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$10,000Currency Exchange Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Minnesota currency exchange bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll send you an email with a link for you to sign the bond directly in NMLS. Once you sign, the bond is officially filed. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Minnesota Currency Exchange Bond Work? 

A currency exchange bond creates a legal contract between these three parties: 

  1. Principal: You, the currency exchanger filing the bond
  2. Obligee: The Minnesota Department of Commerce requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Minnesota Statutes Chapter 53A. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your currency exchange bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

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