Small Payment Institution (SPI) Registration (United Kingdom)
The Small Payment Institution (SPI) Registration is issued by Financial Conduct Authority (FCA) under Payment Services Regulations 2017 (SI 2017/752). The application fee is GBP 1,130 (Pricing Category 3). Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Small Payment Institution (SPI) Registration1 |
|---|---|
| Also known as | SPI · Small PI · UK small payment institution · FCA small payment institution registration · UK SPI |
| Market names to check | FCA-authorised SPI: A small payment institution is registered with the FCA, not authorised UK small payment institution licence: A small payment institution holds an FCA registration, not a licence |
| Issued by | Financial Conduct Authority |
| Jurisdiction | United Kingdom |
| Licence family | Payment institution (PI) |
| Legal basis | Payment Services Regulations 2017 (SI 2017/752)2 |
| Passporting | Domestic only |
| Application fee | GBP 1,130 (Pricing Category 3)1 |
| Annual fee | GBP 646 extra periodic fee for small payment institutions (Fee-block G.3)3 |
What it lets you do
| Execution of payment transactions | Executing direct debits, card payments and credit transfers, including standing orders, from a payment account. |
|---|---|
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
| Issuing payment instruments and acquiring payment transactions | Issuing cards or other payment instruments to payers, and acquiring card and other payment transactions for merchants. |
| Payment initiation services | Initiating a payment order at the user's request from an account held with another provider, as in open banking. |
| Account information services | Providing consolidated online information on one or more payment accounts the user holds with other providers. |
Where it is valid
Cost
Buying a company that already holds it
Prior approval required. Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.4
Ready-made companies holding this licence: see verified positions.
PI in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Czech Republic | Account Information Service Provider authorisation | CNB | n/a | CZK 25,000 | ~3 mo |
| Czech Republic | Small-scale Payment Service Provider authorisation | CNB | n/a | CZK 10,000 | ~1 mo |
| Czech Republic | Payment Institution licence | CNB | n/a | CZK 50,000 | ~3 mo |
| Estonia | Payment institution operating with an exception | FI | n/a | n/a | n/a |
| Estonia | Operating licence as a payment institution | FI | n/a | EUR 3,000 | ~3 mo |
| Georgia | Payment institution licenceRegistration as a Payment Service Provider (PSP) with the National Bank of Georgia | NBG | n/a | GEL 5,000 | n/a |
| Germany | Account information service provider registration | BaFin | n/a | n/a | n/a |
| Germany | Payment institution licence | BaFin | n/a | EUR 13,523 | ~3 mo |
| Ireland | Payment Institution Authorisation | CBI | n/a | n/a | n/a |
| Latvia | Registered payment institution | LB | n/a | EUR 2,500 | ~1.7 mo |
| Latvia | Authorised payment institution licence | LB | n/a | EUR 5,000 | ~3.7 mo |
| Lithuania | Payment institution licence for restricted activity | LB | n/a | n/a | n/a |
| Lithuania | Payment institution licence | LB | n/a | EUR 898 | ~3 mo |
| Luxembourg | Payment institution authorisation | CSSF | n/a | EUR 30,000 | ~3 mo |
| Malta | Account information service provider registration | MFSA | n/a | EUR 1,000 | n/a |
| Malta | Payment institution licence | MFSA | n/a | EUR 10,000 | ~3 mo |
| Netherlands | Payment institution licencePayment institution licence (Vergunning betaalinstelling) | DNB | n/a | EUR 6,800 | ~3 mo |
| Poland | Account Information Service Provider registration | KNF | n/a | n/a | n/a |
| Poland | National Payment Institution licence | KNF | n/a | EUR 1,250 | ~3 mo |
| Poland | Small Payment Institution registration | KNF | n/a | PLN 616 | ~3 mo |
| Singapore | Major Payment Institution Licence | MAS | n/a | SGD 1,500 | n/a |
| Singapore | Standard Payment Institution Licence | MAS | n/a | SGD 1,000 | n/a |
| Slovakia | Payment institution licence | NBS | n/a | n/a | ~3 mo |
| Spain | Payment institution authorization | BdE | n/a | n/a | ~3 mo |
| United Arab Emirates | Retail Payment Services Licence (Categories I to IV) | CBUAE | n/a | n/a | ~2.8 mo |
| United Kingdom | Registered Account Information Service Provider (RAISP) | FCA | n/a | GBP 1,130 | n/a |
| United Kingdom | Small Payment Institution (SPI) Registration | FCA | n/a | GBP 1,130 | n/a |
| United Kingdom | Authorised Payment Institution (API) | FCA | n/a | GBP 5,640 | ~3 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- The Payment Services Regulations 2017: S.I. 2017/752
Sources
- fca.org.uk: fees · retrieved 2026-09-24
- legislation.gov.uk: contents · retrieved 2026-09-24
- fca.org.uk: how we calculate annual fees · retrieved 2026-09-24
- fca.org.uk: control thresholds bands · retrieved 2026-09-24
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