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SPI Licence
Exceeding Your Expectations
SPI Licence – Setting up your UK Small Payment Institution
At the ForefrontThe UK remittance (money transfer) market is regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017, and by HMRC under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)
Regulations 2017 (MLR2017) and associated subsequent guidance.
We recognise that each company is unique and that the time required in preparing the application will vary depending on their specifics, but we aim to have all applications completed within 2 weeks.
The FCA will process a complete application within 3 months of receipt of a complete application. You should allow at least 3-4 months to get the company up and running.
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