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Currency Exchange License
Overview

A currency exchange is any person, except a bank, trust company, savings bank, savings and loan association, credit union, or industrial loan and thrift company, engaged in the business of cashing checks, drafts, money orders or travelers' checks for a fee. Currency exchange does not include a person who provides these services incidental to the person's primary business if the charge for cashing a check or draft does not exceed $1 or 1% of the value of the check or draft, whichever is greater.

If you have questions, contact DSI at (651) 266-8989, or email the DSI Message Center.


Code Requirements

See Chapter 381 of the Saint Paul Legislative Code for information about currency exchange.


Inspections

This license requires inspection approvals from the Saint Paul Fire Department (Ph: (651) 266-8989), Licensing (Ph: (651) 266-8989), and Zoning (Ph: (651) 266-9008).


Fees

The annual administrative processing fee for a Currency Exchange License is $345.00.


Expiration/Renewal

State of Minnesota Currency Exchange Licenses expire December 31 annually.

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