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Minnesota
Electronic Financial Terminal Bond

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Coverage Amount: $5,000 - $50,000
Term Length: 1 year
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Minnesota Electronic Financial Terminal Bond Guide

If you’re applying for an electronic financial terminal operator registration in Minnesota, you’ll need this surety bond. 

Bond Overview

  • Purpose: To prove financial responsibility and soundness
  • Who Needs It: Virtual currency ATM operators
  • Regulating Body: The Minnesota Department of Commerce
  • Required Coverage: $5,000 per ATM
  • Premium Rate: 1–10%, credit-based

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

What Is a Minnesota Electronic Financial Terminal Bond?

A Minnesota electronic financial terminal bond proves that a private entity opening an ATM for virtual currency has financial responsibility. 

The Department of Commerce requires a $5,000 bond per machine to cover damages from any potential breach of state money transmission regulations.

How Much Do Electronic Financial Terminal Bonds Cost?

Minnesota electronic financial terminal bonds cost a small percentage of the required coverage amount, typically 1–10% based on credit score.


For example premiums start at $50 for $5,000 coverage. Apply for your free quote now!

Bond Type
$5,000-$50,000Electronic Financial Terminal Bond$5,000 per ATM

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

Who Needs an Electronic Financial Terminal Bond? 

The Minnesota Department of Commerce requires this bond for any private entity that wishes to open an ATM or electronic financial terminal for virtual currency.  

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Minnesota electronic financial terminal 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 upload the electronic surety bond directly to the NMLS on your behalf. 

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

How Does a Minnesota Virtual Currency ATM Bond Work? 

An electronic financial terminal or virtual currency ATM bond creates a legal contract between these three parties: 

  1. Principal: You, the ATM operator filing the bond
  2. Obligee: The 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 53B. 

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 electronic financial terminal 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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