FEES 3 Annex 8 Fees payable under the Payment Services Regulations, including for authorisation as an authorised payment institution, registration as a small payment institution, notification fees and fees for variation of authorisation and registration

(3) authorised payment institution - where the applicant is applying for authorisation to provide payment services in any one or more of paragraph(s):

(a) (enabling cash to be placed on payment account and all operations required for operating a payment account);

(b) (enabling cash withdrawals from a payments account and all operations required for operating a payment account);

(c) (execution of direct debits, payment transactions executed through a payment card or similar device, credit transfers);

(d) (execution of payment transactions where the funds are covered by a credit line for the payment service user);

(e) (issuing payments instruments or acquiring payment transactions)

of Part 1 of Schedule 1 to the Payment Services Regulations.

(6) A person (service provider) - where, during the course of the FCA financial year (12 months ending 31 March) that person notifies the FCA under regulation 38 of the Payment Services Regulations of its use of the limited network exclusion or the electronic communications exclusion

[Note: If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.]

Category 1

If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.