Applications under the Payment Services Regulations 2017 and Electronic Money Regulations 2011

The information we need from your firm if you’re seeking authorisation or registration.

EU withdrawal

The Payment Services Regulations 2017 (PSRs) were amended to reflect the UK’s withdrawal from the EU by the Electronic Money, Payment Services and Payment Systems (EU Exit) Regulations 2018 (the EPPRs).  

Following the end of the transition period, we also made technical standards on strong customer authentication and common and secure methods of communication (the SCA-RTS). These are substantially the same as the EU regulatory technical standards (EU) 2018/389, in accordance with our consultation CP18/44.

Information required at authorisation

If you’re a prospective payment or an e-money institution applying under the PSRs or Electronic Money Regulations 2011 (EMRs), refer to our guidance on the information you'll need to provide. This can be found in Chapter 3 of our Approach Document

If you’re a provider of account information or payment initiation services, and you’re seeking authorisation or registration under the PSRs, you should also read about the security requirements.

European Banking Authority (EBA) Guidelines

The EBA developed guidelines for competent authorities on the exact information required for applicants to become authorised payment institutions and authorised e-money institutions. 

These guidelines also apply to firms that only provide account information services. While these firms will be able to seek registration with us, they won’t have to provide as much information as firms seeking full authorisation. 

We apply the guidelines developed by the EBA, interpreting them in light of the UK’s withdrawal from the EU and the associated legislative changes.

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