Clients we have helped
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Regulator: Financial Conduct Authority (FCA)
Status: FCA authorisation under the Payment Services Regulations 2017
FCA application fee: £2,820 or £5,640 depending on payment services
Transaction limit: No SPI-style €3 million limit
Minimum initial capital: €20,000, €50,000 or €125,000 depending on activities
UK company and head office: Required
Payment initiation services: Permitted where authorised
Account information services: Permitted where authorised
Safeguarding: Required where applicable
AML compliance: Required
Ongoing capital and FCA compliance: Required
The FCA currently sets API initial capital at €20,000, €50,000 or €125,000 depending
UK API Licence at a Glance
Why payment institutions work with us
Specialist focus
We advise payment and e-money firms on UK and European authorisation, compliance and regulator engagement.
Experience since 2013
We have supported applicant and regulated firms across EMI, Payment Institution and fintech authorisation projects for over a decade.
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FCA Authorised Payment Institution licence guide
FCA Authorised Payment Institution FAQs
Specialists in FCA payments authorisation since 2013
Every engagement is led at director level. You work directly with the senior practitioners preparing your application, not a delegated team. Buckingham Capital Consulting has focused on FCA payments and e-money authorisations since 2013, with successful outcomes across acquirers, remittance operators, open banking providers, B2B payment platforms, and foreign exchange firms. We know what the FCA expects on first submission, and we prepare accordingly.
Latest insights on payment institutions
FCA Payment Institution licence success stories
Project: Nexpay
Overview:
Nexpay engaged Buckingham Capital Consulting in relation to its FCA Authorised Payment Institution application. Our work included application preparation, regulatory documentation, compliance policies, risk assessment, governance evidence and FCA engagement through the application process.
Scope of Work:
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Prepared and submitted the API licence application.
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Developed compliance policies and operational procedures.
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Prepared risk assessment, compliance and governance evidence for the application.
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Supported FCA engagement and responses to regulatory questions.
Outcomes Delivered:
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Successfully obtained API license approval.
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Strengthened application evidence and post-authorisation compliance arrangements for payment services.
Overview:
Global Send engaged Buckingham Capital Consulting for support with its FCA Authorised Payment Institution application and related compliance arrangements.
Scope of Work:
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Defined the regulatory route, application plan and supporting evidence requirements.
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Prepared and submitted API licence application.
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Conducted compliance audits and gap analysis.
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Provided continuous compliance advisory support.
Outcomes Delivered:
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Successfully obtained API licence.
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Developed a clear regulatory road map.
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Identified and addressed compliance gaps.
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Strengthened compliance monitoring arrangements for post-authorisation obligations.
Project: Global Send
Project: Onpoint Money
Overview:
Onpoint Money engaged Buckingham Capital Consulting in relation to its Small Payment Institution registration and supporting compliance arrangements.
Scope of Work:
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Managed SPI registration and submission.
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Planned the regulatory route, application plan and supporting evidence mapping.
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Developed compliance policies and operational procedures.
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Provided ongoing regulatory and compliance advisory.
Outcomes Delivered:
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Secured SPI registration.
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Established strong compliance policies and procedures.
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Strengthened regulatory reporting and compliance arrangements.