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Automatic Teller Machines


Automated Teller Machines (electronic financial terminals) that are owned by an individual and are not associated with a state or federally chartered institution must apply for an authorization. See MS 47.61 - 64 and Minnesota Rules, Part 2675.8100 to 8190. The application includes a $100 one-time fee. Specific information and documentation required by law or rule include:

  • Location and description of the machine, its technical operating standards and systems employed to safeguard the customers' account information and prevent unauthorized use.

  • Types of transactions to be available which are normally limited by the agreements to cash withdrawal and balance inquiry.

  • Who has control over the equipment, including servicing agreements.

  • Evidence of financial soundness and responsibility of the person controlling the machine. This can take the form of:

    • A Bond for Ownership of Electronic Financial Terminal in the amount of $5,000 per ATM; or

    • A certificate of deposit in the amount of $5,000 per ATM which may be pledged or assigned to the Commissioner of Commerce; or

    • A current business financial statement for the owner of the ATM.

Download forms here:

If you have any questions about the application process or license requirements call 651-539-1600 or email financial.commerce@state.mn.us