FEES 3 Annex 8 Fees payable for authorisation as an authorised payment institution or registration as a small payment institution, including notification fees, 2 in accordance with the Payment Services Regulations

R

1Authorisation and registration fees payable

Application type for authorisation, registration and notification 2under Part 2 of the Payment Services Regulations

2

Amount payable

(1) small payment institution

500

(2) authorised payment institution - where the applicant is applying for authorisation to provide payment services in paragraph(s) (f) (money remittance) and/or (g) (payment initiation services) and/or (h) (account information services) 3of Part 1 of Schedule 1 to the Payment Services Regulations

1,500

3(2)(i) registered account information service provider - where the applicant is applying for registration to provide payment services in paragraph (h) (account information services) of Part 1 of Schedule 1 to the Payment Services Regulations only

31,500

(3) authorised payment institution - where the applicant is applying for authorisation to provide payment services in any one or more of paragraph(s):

(a) (enabling 3cash to be3 placed on payment account and all operations required for operating a payment account)3;

(b) (enabling 3cash withdrawals 3from a payments account and all operations required for operating a payment account)3;

(c) (execution of direct debts, payment transactions executed through a payment card or similar device, credit transfers)3;

(d) (execution of payment transactions where the funds are covered by a credit line for the payment service user)3;

(e) (issuing payments instruments or acquiring payment transactions3)

of Part 1 of Schedule 1 to the Payment Services Regulations.

5,000

(4) authorised payment institution - where, at the time the application is made, the applicant intends to use agents2

2

3 for each agent registered with the FCA at the time of application.

This fee is in addition to any fee due under paragraph (2) or (3) of this table.2

2

(5) authorised payment institution - where, during the course of the FCA financial year (12 months ending 31 March), the firm notifies the FCA of any changes to the list of agents it has registered since authorisation2

2

3 for each change notified to the FCA during the FCA financial year.

No fee is due under paragraph (5) if the total number of notifications to the FCA during the FCA financial year numbers 100 or less.2

2

3(6) A person (service provider) - where, during the course of the FCA financial year (12 months ending 31 March) that person notifies the FCA under regulation 38 of the Payment Services Regulations of its use of the limited network exclusion

3300

3 If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.

3(7) A person (service provider) – where, during the course of the FCA financial year (12 months ending 31 March), that person notifies the FCA under regulation 39 of the Payment Services Regulations of its use of the electronic communications exclusion

3200

3If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.

3Note: See FEES TP 17 for transitional provisions relating to fees payable for authorisation as an authorised payment institution or registration as a small payment institution under the Payment Services Regulations 2017 (SI 2017/752).