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UK SPI License

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What is a Small Payment Institution (SPI) License?

To operate as a Small Payment Institution (SPI) and provide payment services in the UK, you must apply for an SPI licence through the Financial Conduct Authority (FCA). Under the Payment Services Regulations 2017, this licence allows you to offer services such as remittances, payment processing, and the operation of payment accounts.

If your business involves money transfers or currency exchange, you may also need to register with HMRC for a Money Service Business (MSB) Licence.

We offer end-to-end support for your SPI licence application, helping you become a fully licensed small payment institution efficiently and with minimal hassle—so you can focus on growing your business.

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What Are the Requirements for an SPI Licence?

To obtain a Small Payment Institution (SPI) licence in the UK, you’ll need to meet the following criteria:

A registered office and head office located in the UK (the FCA is increasingly open to flexible, remote working arrangements).
A UK-resident management team with relevant knowledge, training, and—most importantly—experience. If you're looking for suitable candidates, our recruitment services can help.
A UK-resident Money Laundering Reporting Officer (MLRO).
All owners, directors, and senior managers must be deemed "fit and proper" by the FCA.
An average monthly payment services turnover below €3 million (actual or projected).
Well-defined and effective procedures to manage the business and ensure compliance.

How Long Does It Take to Get an SPI Licence?

We aim to prepare and submit your SPI licence application within two weeks. However, the FCA’s processing time can vary significantly and typically takes between 3 to 12 months, depending on the complexity of the application and the regulator’s workload.

How Long Does It Take to Get an SPI Licence?

If you need to start offering payment services quickly, there are a couple of faster alternatives:

Acquire a company that already holds a Small Payment Institution licence.
perate under the licence of an authorised SPI firm while your own application is being processed.

Will My SPI Licence Application Be Accepted?

We’re proud to maintain a 99% success rate for SPI licence applications submitted on behalf of our clients. To ensure the highest chance of approval, we conduct thorough initial checks on your company, directors, and shareholders before taking on your case. This screening process helps us confirm that you meet the FCA’s requirements—so you can apply with confidence, knowing your application is set up for success from the start.

How much does it cost?

We offer a flat-fee pricing model for a Small Payment Institution (SPI) licence application. This fee covers the entire process, including unlimited follow-up and communication with the FCA, until your licence is successfully granted.

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About Us

We are a UK-based compliance consultancy dedicated to supporting financial services firms in meeting their regulatory obligations with confidence and clarity. Operating exclusively within the UK regulatory framework, we assist businesses at every stage of their journey—whether navigating the complexities of authorisation or maintaining ongoing compliance.

Our strength lies in the depth of expertise across our team. With a combined foundation of over 25 years’ experience in financial services, we bring practical insight, regulatory understanding, and strategic guidance to every engagement. We do not offer generic solutions; instead, we deliver tailored advice that reflects the realities of your business and the expectations of the regulator.

We understand that today’s regulatory landscape is demanding, fast-moving, and often challenging. That is why we position ourselves not simply as advisers, but as your long-term compliance partner. From initial application through to day-to-day oversight, we work alongside you to make complex processes clear, manageable, and efficient.

Our focus is on achieving the right outcome—every time. By combining technical excellence with a client-centred approach, we help firms progress with confidence, minimise regulatory risk, and build sustainable, compliant operations. With us, compliance becomes not a barrier to growth, but a foundation for it.

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