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.
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:
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:
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.
