{"id":64306,"date":"2026-11-05T06:31:13","date_gmt":"2026-11-05T12:31:13","guid":{"rendered":"https:\/\/www.nimbleappgenie.com\/blogs\/?p=64306"},"modified":"2026-11-05T06:57:43","modified_gmt":"2026-11-05T12:57:43","slug":"uk-fca-application-process-for-fintechs","status":"publish","type":"post","link":"https:\/\/www.nimbleappgenie.com\/blogs\/uk-fca-application-process-for-fintechs\/","title":{"rendered":"FCA Authorisation for Fintech Startups: Routes, Timelines and Costs"},"content":{"rendered":"<blockquote><p>TL;Dr<\/p>\n<p>Financial Conduct Authority (FCA) authorisation is essential for fintech startups that want to offer regulated financial services in the UK. The right route depends on your business model: e-money, payment services, or cryptoasset activities. Application timelines vary, and the FCA\u2019s Q1 2026\/27 operating metrics reported a median of <a href=\"https:\/\/www.fca.org.uk\/data\/fca-authorisations-operating-service-metrics-2026-27-q1?\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">219 days for authorisation applications<\/a>. Startups should plan for application fees, regulatory capital, safeguarding, governance, and ongoing compliance before applying.<\/p>\n<ul>\n<li>FCA authorisation is based on your business activities. Fintech startups should identify whether their services fall under the <a href=\"https:\/\/www.legislation.gov.uk\/ukpga\/2000\/8\/section\/19?\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Financial Services and Markets Act 2000<\/a>, the <a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2017\/752\/contents?\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Electronic Money Regulations 2011<\/a>, the <a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2017\/752\/contents\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Payment Services Regulations 2017<\/a>, or the<a href=\"https:\/\/www.fca.org.uk\/firms\/new-regime-cryptoasset-regulation\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"> upcoming cryptoasset regulatory framework<\/a>.<\/li>\n<li>Payment institutions and e-money institutions follow distinct regulatory routes. Payment institutions are usually regulated under the Payment Services Regulations 2017, while e-money institutions fall under the Electronic Money Regulations 2011.<\/li>\n<li>FCA application fees depend on the type of authorisation. The applicable fee varies based on regulatory category and application type. Check the FCA\u2019s <a href=\"https:\/\/www.fca.org.uk\/firms\/authorisation\/apply\/fees\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">latest application fee schedule<\/a> before preparing your application.<\/li>\n<li>Regulatory capital requirements differ by licence type. Authorised e-money institutions usually need initial capital of about <a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2011\/99\/made?view=plain\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">\u20ac350,000<\/a>. Payment institutions have distinct capital requirements depending on the payment service they offer, as set out in <a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2017\/752\/pdfs\/uksi_20170752_en.pdf\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Schedule 3 of the Payment Services Regulations 2017<\/a>.<\/li>\n<li>Application timelines depend on complexity and completeness. The FCA states that complete payment institution and e-money institution applications are assessed within <a href=\"https:\/\/www.fca.org.uk\/firms\/authorisation\/apply\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">three months<\/a>, while incomplete applications can take up to <a href=\"https:\/\/www.fca.org.uk\/firms\/authorisation\/apply\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">12 months<\/a>. Actual timelines can differ, as shown in the <a href=\"https:\/\/www.fca.org.uk\/data\/fca-authorisations-operating-service-metrics-2026-27-q1\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">FCA\u2019s authorisation service metrics<\/a>.<\/li>\n<li>Safeguarding and record-keeping continue after authorisation. Payment and e-money firms should maintain appropriate safeguarding arrangements and meet applicable reconciliation and record-keeping requirements under <a href=\"https:\/\/handbook.fca.org.uk\/handbook\/cass15\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">CASS 15<\/a>.<\/li>\n<\/ul>\n<\/blockquote>\n<p>FCA authorisation is permission from the Financial Conduct Authority to carry on regulated financial activities in the UK. You need it if your startup provides payment services, issues e-money, arranges investments, or lends to consumers; from October 2027, offers cryptoasset services, unless a partner model or exclusion applies.<\/p>\n<p>This guide helps CTOs and non-technical founders choose a route, estimate costs and timelines, and understand what the platform should do. It separates statutory deadlines from real outcomes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Do-You-Need-FCA-Authorisation\"><\/span>Do You Need FCA Authorisation?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Yes, if you carry on a regulated activity by way of business in the UK and no exclusion applies. The law lists regulated activities, so the test is what your platform does with credit, money, cryptoassets, or investments, not how you describe your business. Serving UK customers from abroad can also bring you within scope.<\/p>\n<p>Three layers apply. The Financial Services and Markets Act 2000 (FSMA 2000) restricts regulated activities without permission; Part 4A of FSMA 2000 grants that permission for credit, investments and, soon, crypto.<\/p>\n<p>Payments and e-money sit under the Payment Services Regulations 2017 (PSRs 2017) and the Electronic Money Regulations 2011 (EMRs 2011). Financial promotions are also controlled, so you can\u2019t market a regulated product unless an authorised firm approves it.<\/p>\n<p>A remittance app offers payment services, and a wallet that stores balances issues e-money. An invoice finance platform may sit outside consumer credit rules if it lends only to companies, but sole traders can change that.<\/p>\n<p>Taking deposits is a different regime. If you are planning a neobank, our guide to <a href=\"https:\/\/www.nimbleappgenie.com\/blogs\/how-to-get-licence-for-neobank\/\" target=\"_blank\" rel=\"noopener\">full banking licences<\/a> covers that route.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Which-FCA-Permission-Does-Your-Fintech-Need\"><\/span>Which FCA Permission Does Your Fintech Need?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The permission follows your business model. Holding customer balances points to e-money; moving money for others points to payment services; arranging investments points to Part 4A permissions; and lending points to consumer credit. Under the new regime, crypto services need FSMA authorisation; the table maps common models to routes.<\/p>\n<div class=\"custom-table-responsive\">\n<table>\n<tbody>\n<tr>\n<td>Business model<\/td>\n<td>Permission needed<\/td>\n<td>Route<\/td>\n<td>Key requirement<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Wallet or prepaid card<\/span><\/td>\n<td><span style=\"font-weight: 400;\">E-money issuance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Authorised e-money institution (EMI); small EMI if average outstanding e-money stays within \u20ac5 million<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac350,000 initial capital (authorised)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Safeguarding applies<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Remittance app<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Money remittance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Authorised payment institution (API); small payment institution if monthly payments average within \u20ac3 million<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac20,000 initial capital<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Safeguarding applies<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Merchant acquiring or payment accounts<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Core payment services<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Authorised payment institution<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac125,000 initial capital<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Card and wallet flows in scope<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pay-by-bank<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Payment initiation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Authorised payment institution<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac50,000 initial capital<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Outside the new safeguarding rules<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Data dashboard<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Account information<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Registered account information service provider (RAISP)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">No initial capital; insurance or comparable guarantee<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fee \u00a31,130<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Lending app or buy now pay later<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Consumer credit; buy now pay later regulated from 15 July 2026<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Part 4A, limited or full permission<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Affordability checks; Consumer Duty (FCA rules on good outcomes for retail customers)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Temporary permissions regime: firms must still seek full authorisation]<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Investment or advice app<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Part 4A investment permissions<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Authorised firm or appointed representative<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Senior Managers and Certification Regime (SM&amp;CR)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Capital varies\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Crypto exchange or custody<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Money laundering registration today; FSMA authorisation from 25 October 2027<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Gateway open to 28 February 2027<\/span><\/td>\n<td><span style=\"font-weight: 400;\">AML controls; new prudential regime<\/span><\/td>\n<td><span style=\"font-weight: 400;\">No automatic conversion<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>If X, then Y:<\/p>\n<ul>\n<li><strong>You hold customer balances:<\/strong> plan for an authorised EMI, or a small one under the limit.<\/li>\n<li><strong>You move money between parties:<\/strong> use a payment institution for small amounts below \u20ac3 million.<\/li>\n<li><strong>You only read bank data:<\/strong> register as an account information provider.<\/li>\n<li><strong>You lend to individuals:<\/strong> seek consumer credit permission; marketplace models meet extra <a href=\"https:\/\/www.nimbleappgenie.com\/blogs\/p2p-lending-regulations-by-country\/\" target=\"_blank\" rel=\"noopener\">lending platform rules<\/a>.<\/li>\n<li><strong>You arrange or manage investments:<\/strong> seek Part 4A permissions or an appointed representative arrangement.<\/li>\n<li><strong>You offer crypto services:<\/strong> plan for FSMA authorisation, not registration alone.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"FCA-Authorisation-Routes-Compared\"><\/span>FCA Authorisation Routes Compared<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>EMI and payment institution routes carry the heaviest payment obligations; small registrations are lighter but capped, and credit, investment and crypto routes stay under different FCA rules. The table compares what each route allows: safeguarding, complexity, and capital. Complexity ratings are our experience-based view, not FCA classifications.<\/p>\n<div class=\"custom-table-responsive\">\n<table>\n<tbody>\n<tr>\n<td>Route<\/td>\n<td>What you can do<\/td>\n<td>What you cannot do<\/td>\n<td>Safeguarding<\/td>\n<td>Capital<\/td>\n<td>Complexity<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Authorised EMI (the &#8220;FCA EMI licence&#8221; founders search for)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Issue e-money; provide payment services<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lend or take deposits<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Yes<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac350,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">High<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Authorised payment institution<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Provide chosen payment services<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Issue e-money<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Yes, except payment-initiation-only or account-information-only firms<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac20,000, \u20ac50,000 or \u20ac125,000 by service<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Medium to high<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Small payment institution \/ small EMI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Operate within limits<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Exceed \u20ac3 million monthly payments or \u20ac5 million e-money<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Small EMI yes; small payment opt-in<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Small payment: none. Small EMI: none below \u20ac500,000 average e-money, then 2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lower to medium<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">RAISP<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Access account data with consent<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Initiate payments or hold funds<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Not applicable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">None; insurance or guarantee<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lower<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Consumer credit<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lend or broker credit to individuals<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Take deposits<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Not applicable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">No universal fixed minimum; adequate financial resources required, with additional prudential requirements depending on activities.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Medium<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Part 4A investments<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Arrange, deal in or manage investments<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Anything outside permissions<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Client asset rules if holding assets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u00a375,000, \u00a3150,000, \u00a3750,000 or \u00a34 million, depending on firm type and permissions; additional own-funds requirements may apply.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">High<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Crypto<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Operate under registration now; regulated activities from 25 October 2027 with authorisation.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Continue after that date without it<\/span><\/td>\n<td><span style=\"font-weight: 400;\">New custody rules<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Registration: none. Authorisation: \u00a375,000\u2013\u00a3750,000 permanent minimum, depending on activity; higher own-funds requirements may apply.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">High<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><a href=\"https:\/\/www.nimbleappgenie.com\/contact\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"CTA aligncenter wp-image-64314 size-full\" src=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups.webp\" alt=\"FCA Authorisation for Fintech Startups\" width=\"900\" height=\"350\" srcset=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups.webp 900w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups-300x117.webp 300w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups-768x299.webp 768w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups-680x264.webp 680w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups-400x156.webp 400w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups-800x311.webp 800w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-Startups-832x324.webp 832w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The-FCA-Authorisation-Process-Step-by-Step\"><\/span>The FCA Authorisation Process, Step by Step<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The FCA authorisation process runs from perimeter analysis to a decision, and your preparation largely decides how long it takes. You submit through Connect, the FCA\u2019s online application system, with a business plan, governance, projections, safeguarding, and anti-money laundering evidence. The FCA then asks questions until the application is completed. These steps cover the usual FCA authorisation requirements.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-64312 size-full\" src=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step.webp\" alt=\"The FCA Authorisation Process, Step by Step\" width=\"900\" height=\"500\" srcset=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step.webp 900w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step-300x167.webp 300w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step-768x427.webp 768w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step-680x378.webp 680w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step-400x222.webp 400w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step-800x444.webp 800w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/The-FCA-Authorisation-Process-Step-by-Step-832x462.webp 832w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<ul>\n<li><strong>Confirm the perimeter and route.<\/strong> Get written advice on which permission fits.<\/li>\n<li><strong>Use pre-application support.<\/strong> The FCA\u2019s free pre-application support service (PASS) is open to payment, e-money, and crypto applicants; it offers no advice or guarantee. The FCA regulatory sandbox suits novel propositions but is no shortcut.<\/li>\n<li><strong>Write the business plan and programme of operations.<\/strong> Explain customers, projections, money flows, and a wind-down plan. Prove governance, fitness, and propriety. Controllers, directors, and responsible persons are assessed; FSMA firms also name SM&amp;CR roles.<\/li>\n<li><strong>Evidence safeguarding and financial crime controls.<\/strong> Policies should fit working systems, with a credible money laundering reporting officer.<\/li>\n<li><strong>Submit through Connect and pay the fee:<\/strong> It\u2019s non-refundable.<\/li>\n<li><strong>Answer FCA information requests, then receive a decision.<\/strong> If refused, the FCA\u2019s refusal process applies.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How-Long-Does-FCA-Authorisation-Take\"><\/span>How Long Does FCA Authorisation Take?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>By law, the FCA has three months to decide a complete payments or e-money application and up to 12 months if it\u2019s incomplete. In practice, the FCA\u2019s published median for April to June 2026 was 219 days. Treat statutory deadlines as legal limits and observed medians as planning guides, not commitments.<\/p>\n<div class=\"custom-table-responsive\">\n<table>\n<tbody>\n<tr>\n<td>Application type<\/td>\n<td>Statutory deadline (complete\/incomplete)<\/td>\n<td>FCA service standard<\/td>\n<td>Observed median, April to June 2026<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Payments and e-money<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3 months \/ 12 months<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3 months \/ 10 months<\/span><\/td>\n<td><span style=\"font-weight: 400;\">219 days (quartiles 168 to 268)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New firm, Part 4A, all sectors<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6 \/ 12 months today; 4 \/ 10 confirmed, pending legislation\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4 months \/ 10 months<\/span><\/td>\n<td><span style=\"font-weight: 400;\">131 days (91 to 190)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Credit and lending (limited\/other)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">As above<\/span><\/td>\n<td><span style=\"font-weight: 400;\">As above<\/span><\/td>\n<td><span style=\"font-weight: 400;\">108 \/ 124 days<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Consumer investments<\/span><\/td>\n<td><span style=\"font-weight: 400;\">As above<\/span><\/td>\n<td><span style=\"font-weight: 400;\">As above<\/span><\/td>\n<td><span style=\"font-weight: 400;\">285 days<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Crypto registration (money laundering rules)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Not applicable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3 months, complete applications<\/span><\/td>\n<td><span style=\"font-weight: 400;\">236 days (120 to 297)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Crypto FSMA authorisation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Not applicable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Decision before 25 October 2027 if you apply by 28 February 2027<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Not yet available<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>These medians are observed results, not FCA commitments, and incomplete applications take longer. Preparation before submission is extra.<\/p>\n<blockquote><p>Download the FCA Authorisation Readiness Checklist to test your application before you submit.<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"How-Much-Does-FCA-Authorisation-Cost\"><\/span>How Much Does FCA Authorisation Cost?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The FCA application fee is only one cost line. As of November 2026, it runs from \u00a31,130 to \u00a35,640 for payments and e-money firms and is non-refundable. Regulatory capital, compliance staff, technology, legal advice, and ongoing fees add to it, so budget for all six lines below.<\/p>\n<div class=\"custom-table-responsive\">\n<table>\n<tbody>\n<tr>\n<td>Cost line<\/td>\n<td>Figure (as of November 2026)<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">FCA application fee<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Small payment institution, small EMI, RAISP: \u00a31,130. Authorised payment institution: \u00a32,820 (remittance, payment initiation or account information only) or \u00a35,640. Authorised EMI: \u00a35,640. Consumer credit: \u00a3560 (limited) or \u00a31,130, \u00a35,640 or \u00a311,260 (full). Investments: \u00a32,820 for most intermediaries, \u00a311,260 for most investment managers. Crypto registration: \u00a311,260<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Regulatory capital<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20ac350,000 (authorised EMI); \u20ac20,000, \u20ac50,000 or \u20ac125,000 (authorised payment institution); none for RAISP. Capital is held, not spent<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Legal and advisory<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Approximately \u00a35,000\u2013\u00a345,000+, depending on application type, complexity and advisory scope. VAT and third-party costs may be additional.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Compliance staffing<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Approximately \u00a350,000\u2013\u00a390,000 for a Compliance Officer and \u00a375,000\u2013\u00a3120,000 for an MLRO annually. Combined roles may cost \u00a380,000\u2013\u00a3130,000.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Technology and compliance systems<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Variable; depends on business model, transaction volumes, integrations, security requirements and third-party providers. Nimble estimate subject to discovery.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Ongoing FCA fees<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2026\/27: Small payment institution \u00a3652; small EMI \u00a31,432; authorised payment institution and RAISP \u00a3628 minimum plus variable charges; authorised EMI \u00a3628 minimum for payment services and \u00a32,063 minimum for e-money issuance, plus applicable variable charges. Other routes have separate fee blocks.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"What-the-FCA-Expects-From-Your-Product-and-Technology\"><\/span>What the FCA Expects From Your Product and Technology<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The FCA partly judges your application on whether your platform can confirm it protects customer money and manages risk. Safeguarding records, reconciliation, incident reporting, audit trails, data protection, resilience, and strong customer authentication should be designed in, not added later. Each requirement below demonstrates what it means for the build.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-64313 size-full\" src=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology.webp\" alt=\"What the FCA Expects From Your Product and Technology\" width=\"900\" height=\"500\" srcset=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology.webp 900w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology-300x167.webp 300w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology-768x427.webp 768w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology-680x378.webp 680w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology-400x222.webp 400w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology-800x444.webp 800w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/What-the-FCA-Expects-From-Your-Product-and-Technology-832x462.webp 832w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1-Safeguarding-and-Reconciliation\"><\/span>1. Safeguarding and Reconciliation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>From 7 May 2026, new UK safeguarding requirements apply to authorised payment institutions (except payment-initiation-only or account-information-only firms) and authorised and small EMIs; small payment institutions may opt in under the <a href=\"https:\/\/www.fca.org.uk\/firms\/emi-payment-institutions-safeguarding-requirements\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">FCA safeguarding rules<\/a>. Expect internal and external reconciliation at least once every reconciliation day under <a href=\"https:\/\/handbook.fca.org.uk\/handbook\/cass15\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">CASS 15<\/a>, a resolution pack, a <a href=\"https:\/\/handbook.fca.org.uk\/handbook\/sup16\/sup16s14a\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">monthly return within 15 business days of month-end<\/a>, and an annual audit, unless exempt. The audit exemption applies if the firm has not been required to safeguard more than \u00a3100,000 at any time over at least 53 weeks, as explained in the <a href=\"https:\/\/www.fca.org.uk\/publication\/policy\/ps25-12.pdf\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">FCA\u2019s policy statement<\/a>. Build segregated ledgers, automated reconciliation with exception queues, and exportable records.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2-Audit-Trails\"><\/span>2. Audit Trails<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Books and records should be accurate and retrievable. Build append-only logs of payments, balance changes, admin actions, and access. Customer checks belong in the same trail; see <a href=\"https:\/\/www.nimbleappgenie.com\/blogs\/kyc-and-aml-compliance-for-fintech\/\" target=\"_blank\" rel=\"noopener\">KYC and AML compliance for fintech<\/a>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-Incident-Reporting\"><\/span>3. Incident Reporting<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>From 18 March 2027, FCA rules require payment service providers and Part 4A firms to report operational incidents through Connect. Build detection, severity classification, and a workflow that captures timelines and root cause.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4-Operational-Resilience\"><\/span>4. Operational Resilience<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Map critical services, test recovery, and track third-party dependencies. From 18 March 2027, <a href=\"https:\/\/www.fca.org.uk\/firms\/outsourcing-and-operational-resilience\/reporting-material-third-party-arrangements\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">authorised payment institutions and authorised EMIs<\/a> should report material third-party arrangements under <a href=\"https:\/\/www.fca.org.uk\/publications\/policy-statements\/ps26-2-operational-incident-third-party-reporting\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">PS26\/2<\/a>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5-Data-Protection\"><\/span>5. Data Protection<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>UK GDPR applies. Accumulate only what you need, encrypt data, limit access, and set retention rules.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6-Strong-Customer-Authentication\"><\/span>6. Strong Customer Authentication<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The <a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2017\/752\/regulation\/100?\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">PSRs 2017, Regulation 100<\/a>, require strong customer authentication when users access payment accounts online, perform certain risky remote actions, or initiate electronic payments, subject to <a href=\"https:\/\/handbook.fca.org.uk\/technical-standards\/s140c1226\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">specific exemptions<\/a>. Build two-factor authentication, exemption logic, and fraud monitoring.<\/p>\n<p><a href=\"https:\/\/www.nimbleappgenie.com\/contact\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"CTA aligncenter wp-image-64315 size-full\" src=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech.webp\" alt=\"FCA Authorisation for Fintech\" width=\"900\" height=\"350\" srcset=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech.webp 900w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-300x117.webp 300w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-768x299.webp 768w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-680x264.webp 680w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-400x156.webp 400w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-800x311.webp 800w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/FCA-Authorisation-for-Fintech-832x324.webp 832w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Common-Reasons-Applications-Are-Delayed-or-Refused\"><\/span>Common Reasons Applications Are Delayed or Refused<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Delays usually start with incomplete and unconvincing applications. An application is complete only when the FCA holds everything it needs, and the 12-month limit applies. These eight issues commonly slow or sink applications, and you can fix them before submission.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-64311 size-full\" src=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused.webp\" alt=\"Common Reasons Applications Are Delayed or Refused\" width=\"900\" height=\"500\" srcset=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused.webp 900w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused-300x167.webp 300w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused-768x427.webp 768w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused-680x378.webp 680w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused-400x222.webp 400w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused-800x444.webp 800w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Common-Reasons-Applications-Are-Delayed-or-Refused-832x462.webp 832w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<ul>\n<li><strong>Incomplete submissions<\/strong> that compel the FCA to chase evidence.<\/li>\n<li><strong>A business plan that doesn\u2019t match<\/strong> how the platform moves money.<\/li>\n<li><strong>Safeguarding described, not evidenced,<\/strong> against the rules in force since 7 May 2026.<\/li>\n<li><strong>Weak financial crime controls<\/strong> or an under-resourced MLRO.<\/li>\n<li><strong>Projections and capital that do not hold up<\/strong>, or no wind-down plan.<\/li>\n<li><strong>Fitness and propriety concerns<\/strong> about directors, controllers or funding sources.<\/li>\n<li><strong>No real UK presence:<\/strong> payment institutions need a UK head office.<\/li>\n<li><strong>Unmanaged third-party dependency<\/strong> without oversight or exit plans.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Authorised-Firm-Appointed-Representative-or-Partner-Model-Which-Is-Right\"><\/span>Authorised Firm, Appointed Representative or Partner Model: Which Is Right?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Choose your authorisation for control, an appointed representative arrangement for FSMA activities such as investments, or a partner model for speed. Each option forces you to choose between freedom, time, and money. The right fit depends on whether the regulated activity is your core product, and whether a partner will accept the risk.<\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Model<\/span><\/td>\n<td><span style=\"font-weight: 400;\">How it works<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fits when<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Trade-off<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Authorised firm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">You hold the permission<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Regulated activity is your core product<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Cost, time, ongoing duties<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Appointed representative<\/span><\/td>\n<td><span style=\"font-weight: 400;\">You act for an FSMA-authorised principal responsible for your regulated activities<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Investments or credit broking with a willing principal<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Principal sets limits; not for payment institution status<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Agent or partner programme<\/span><\/td>\n<td><span style=\"font-weight: 400;\">You provide services under a payments or e-money firm&#8217;s authorisation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">You want to launch and validate quickly<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Partner controls limits and exit<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>A partner doesn\u2019t remove your own duties. See <a href=\"https:\/\/www.nimbleappgenie.com\/blogs\/fintech-regulations\/\" target=\"_blank\" rel=\"noopener\">wider fintech compliance requirements<\/a> before you decide.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How-Nimble-AppGenie-Supports-Your-FCA-Application\"><\/span>How Nimble AppGenie Supports Your FCA Application<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nimble AppGenie builds the technology side of regulated fintech products. Authorisation is a legal and regulatory process that requires qualified advisers, and we don\u2019t give legal advice or submit applications. We create the platform, controls, and documentation your adviser needs. Our <a href=\"https:\/\/www.nimbleappgenie.com\/fintech\/app-development\" target=\"_blank\" rel=\"noopener\">fintech app development<\/a> service covers:<\/p>\n<ul>\n<li>Compliance-ready architecture for your chosen permission.<\/li>\n<li>Audit logging for payments, balances, and admin actions.<\/li>\n<li>Safeguarding and reconciliation ledger with exception queues.<\/li>\n<li>KYC and AML integrations for onboarding and monitoring.<\/li>\n<li>Technical documentation for the application.<\/li>\n<li>Regulatory reporting for returns and incident reports.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.nimbleappgenie.com\/contact\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"CTA aligncenter wp-image-64316 size-full\" src=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA.webp\" alt=\"Financial Conduct Authority (FCA)\" width=\"900\" height=\"350\" srcset=\"https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA.webp 900w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA-300x117.webp 300w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA-768x299.webp 768w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA-680x264.webp 680w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA-400x156.webp 400w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA-800x311.webp 800w, https:\/\/www.nimbleappgenie.com\/blogs\/wp-content\/uploads\/2026\/11\/Financial-Conduct-Authority-FCA-832x324.webp 832w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>FCA authorisation comes down to three things: choosing the right permission, submitting a complete application, and building a platform that proves its controls. Fees are modest, but capital, systems, and advice drive the real cost, and decisions take months, not weeks.<\/p>\n<p>Your next step is to confirm your route with a regulatory lawyer, then scope the technology early so the application and the build stay aligned. Book a free fintech consultation, and we will map what the platform should do.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"i\"><\/span><span id=\"&quot;&lt;\/span\">FAQs<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These answers cover common founder questions about FCA authorisation, from timelines and costs to partner models. They reflect regulatory information as of 4 November 2026 and are general information, not legal advice, so confirm your position with a regulatory lawyer before you apply.<\/p>\n<div class=\"faq-parent\">\n<div id=\"accordionExample\" class=\"accordion\">\n<div class=\"accordion-item\">\n<p id=\"headingOne\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseOne\" aria-expanded=\"false\" aria-controls=\"collapseOne\">How long does FCA authorisation take?<\/button><\/p>\n<div id=\"collapseOne\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingOne\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">The statutory limit is three months for a complete payments or e-money application and up to 12 months for an incomplete one. In practice, the FCA&#8217;s published median for April to June 2026 was 219 days, with a quarter of cases taking 268 days or more. Preparation time comes before submission.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingTwo\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseTwo\" aria-expanded=\"false\" aria-controls=\"collapseTwo\">How much does FCA authorisation cost?<\/button><\/p>\n<div id=\"collapseTwo\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingTwo\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">The FCA application fee runs from \u00a31,130 to \u00a35,640 for payments and e-money routes, as of November 2026. Authorised e-money institutions must also hold \u20ac350,000 initial capital. Legal advice, compliance staff, technology and annual FCA fees add further cost. Get quotes from regulatory advisers for your model.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingThree\" class=\"accordion-header\"><strong><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseThree\" aria-expanded=\"false\" aria-controls=\"collapseThree\">Do I need FCA authorisation for an app that holds customer money?<br \/>\n<\/button><\/strong><\/p>\n<div id=\"collapseThree\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingThree\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">Usually yes. Holding customer balances normally counts as issuing e-money, and moving money for others is a payment service, so you need authorisation or registration unless you operate under a licenced partner&#8217;s programme. Because the answer depends on your money flows, get a written perimeter opinion before launch.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingFour\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseFour\" aria-expanded=\"false\" aria-controls=\"collapseFour\">What is the difference between an EMI and an API?<\/button><\/p>\n<div id=\"collapseFour\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingFour\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">An e-money institution (EMI) can issue e-money and provide payment services. An authorised payment institution (API) provides payment services but cannot issue e-money. An authorised EMI needs \u20ac350,000 initial capital, while an API needs \u20ac20,000, \u20ac50,000 or \u20ac125,000 depending on the services it provides.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingFive\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseFive\" aria-expanded=\"false\" aria-controls=\"collapseFive\">Can I start with a small registration?<\/button><\/p>\n<div id=\"collapseFive\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingFive\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">Yes, if you stay within the limits: average monthly payments of \u20ac3 million for a small payment institution, or average outstanding e-money of \u20ac5 million for a small e-money institution. Above those limits, you must apply for full authorisation, so design your platform and business plan for that upgrade.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingSix\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseSix\" aria-expanded=\"false\" aria-controls=\"collapseSix\">Do I need a UK office?<br \/>\n<\/button><\/p>\n<div id=\"collapseSix\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingSix\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">For an authorised payment institution, yes. Regulation 6(4) of the PSRs 2017 requires a UK-incorporated body corporate with its head office and, if it has one, a registered office in the UK. Regulation 6(4) of the EMRs 2011 applies a similar requirement to authorised e-money institutions, while also allowing certain overseas-incorporated firms with a UK branch. A virtual office alone is insufficient; the FCA considers where central management and control take place. See its <a href=\"https:\/\/www.fca.org.uk\/publication\/finalised-guidance\/fca-approach-payment-services-electronic-money-sept-2017.pdf?\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">approach guidance<\/a>. Other routes have different requirements, so take advice.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingSeven\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseSeven\" aria-expanded=\"false\" aria-controls=\"collapseSeven\">What is SM&amp;CR?<\/button><\/p>\n<div id=\"collapseSeven\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingSeven\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">The Senior Managers and Certification Regime (SM&amp;CR) holds senior individuals at FSMA-authorised firms personally accountable and requires fitness checks. SM&amp;CR for fintech applies to credit, investment and, under the new regime, crypto firms, but not to firms authorised only as payment or e-money institutions, which face separate fitness assessments.<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-item\">\n<p id=\"headingEight\" class=\"accordion-header\"><button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseEight\" aria-expanded=\"false\" aria-controls=\"collapseEight\">Can I use a partner instead of getting authorised?<\/button><\/p>\n<div id=\"collapseEight\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingEight\" data-bs-parent=\"#accordionExample\">\n<div class=\"accordion-body\">Sometimes. You can act as an agent of an authorised payment institution, work under a licenced e-money programme, or become an appointed representative for FSMA activities. The partner stays responsible, controls limits, and can end the arrangement, so check whether the model covers your activity.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [{\n    \"@type\": \"Question\",\n    \"name\": \"How long does FCA authorisation take?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"The statutory limit is three months for a complete payments or e-money application and up to 12 months for an incomplete one. In practice, the FCA's published median for April to June 2026 was 219 days, with a quarter of cases taking 268 days or more. Preparation time comes before submission.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"How much does FCA authorisation cost?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"The FCA application fee runs from \u00a31,130 to \u00a35,640 for payments and e-money routes, as of November 2026. Authorised e-money institutions must also hold \u20ac350,000 initial capital. Legal advice, compliance staff, technology and annual FCA fees add further cost. Get quotes from regulatory advisers for your model.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Do I need FCA authorisation for an app that holds customer money?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Usually yes. Holding customer balances normally counts as issuing e-money, and moving money for others is a payment service, so you need authorisation or registration unless you operate under a licenced partner's programme. Because the answer depends on your money flows, get a written perimeter opinion before launch.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"What is the difference between an EMI and an API?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"An e-money institution (EMI) can issue e-money and provide payment services. An authorised payment institution (API) provides payment services but cannot issue e-money. An authorised EMI needs \u20ac350,000 initial capital, while an API needs \u20ac20,000, \u20ac50,000 or \u20ac125,000 depending on the services it provides.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Can I start with a small registration?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Yes, if you stay within the limits: average monthly payments of \u20ac3 million for a small payment institution, or average outstanding e-money of \u20ac5 million for a small e-money institution. Above those limits, you must apply for full authorisation, so design your platform and business plan for that upgrade.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Do I need a UK office?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"For an authorised payment institution, yes. Regulation 6(4) of the PSRs 2017 requires a UK-incorporated body corporate with its head office and, if it has one, a registered office in the UK. Regulation 6(4) of the EMRs 2011 applies a similar requirement to authorised e-money institutions, while also allowing certain overseas-incorporated firms with a UK branch. A virtual office alone is insufficient; the FCA considers where central management and control take place. See its <a href=\\\"https:\/\/www.fca.org.uk\/publication\/finalised-guidance\/fca-approach-payment-services-electronic-money-sept-2017.pdf?\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer nofollow\\\">approach guidance<\/a>. Other routes have different requirements, so take advice.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"What is SM&CR?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"The Senior Managers and Certification Regime (SM&CR) holds senior individuals at FSMA-authorised firms personally accountable and requires fitness checks. SM&CR for fintech applies to credit, investment and, under the new regime, crypto firms, but not to firms authorised only as payment or e-money institutions, which face separate fitness assessments.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Can I use a partner instead of getting authorised?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Sometimes. You can act as an agent of an authorised payment institution, work under a licenced e-money programme, or become an appointed representative for FSMA activities. The partner stays responsible, controls limits, and can end the arrangement, so check whether the model covers your activity.\"\n    }\n  }]\n}\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"TL;Dr Financial Conduct Authority (FCA) authorisation is essential for fintech startups that want to offer regulated financial services&hellip;","protected":false},"author":1,"featured_media":64317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","footnotes":""},"categories":[3224],"tags":[],"class_list":["post-64306","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fintech","cs-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FCA Authorisation for Fintech Startups: Costs &amp; Timelines<\/title>\n<meta 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