Find out how much your authorisation fee is likely to be before you go ahead with your application.
The authorisation fee you’ll have to pay depends on whether your application is straightforward, moderately complex or complex.
Financial services
| Straightforward | £1,500 |
| Moderately complex | £5,000 |
| Complex | £25,000 |
Most financial advisers, mortgage brokers and general insurance intermediaries’ applications will be straightforward with a fee of £1,500.
Asset managers
Find out about fees for authorised and registered AIFMs, and the National Private Placement Regime (NPPR).
Banks and insurance firms
These firms are regulated by both the PRA and the FCA. Their payments incorporate fees for each regulator and should be made payable to the FCA.
Banks and insurance companies pay complex fees.
Friendly societies pay straightforward fees.
Find out more about applying for PRA authorisation.
Consumer credit
The application fee for the authorisation of a consumer credit firm depends on its consumer credit income and whether it will need limited or full permission from us to carry on regulated activities.
Full permission application
|
Consumer credit income |
Up to £50k |
Over £50k to £100k |
Over £100k to £250k |
Over £250k to £1m |
Over £1m |
|---|---|---|---|---|---|
|
Straightforward |
£600 |
£750 |
£1,000 |
£1,500 |
£5,000 |
|
Moderately complex |
£800 |
£1,000 |
£1,500 |
£5,000 |
£10,000 |
|
Complex |
£1,000 |
£1,250 |
£2,000 |
£7,000 |
£15,000 |
Limited permission application
|
Consumer credit income |
Up to £50k |
Over £50k |
|---|---|---|
|
Straightforward |
£100 |
£500 |
Community finance organisations (CFOs), credit unions and not-for-profit(NFP) debt advice bodies
Credit unions pay £200 to register a common bond and £300 for authorisation as a deposit taker. They are jointly regulated by the PRA so their fees are split between the two regulators.
CFOs pay the financial services fees listed in the first table above or £300 for authorisation as a home finance provider or home finance administrator.
Credit unions and CFOs pay £200 for full consumer credit permission. Since credit unions have to be authorised as deposit takers, they are only eligible for full permission.
CFOs applying for limited consumer credit permission pay:
- £100 if they have consumer credit income up to £50,000
- £200 if they have consumer credit income above £50,000
NFP debt advice bodies pay no consumer credit application fee.
How to pay the application fee
Use a credit or debit card when you apply via our online system Connect. You won’t actually be able to submit an application without paying the fee. The fee is non-refundable.
Annual fee
The authorisation application fee is a one-off fee. In addition to this fee, you’ll also have to pay us a fee each year. We’ll contact you about this. In your first year, you will pay only a proportion of the fee (based on the number of months remaining in the fee-year).
We are entirely funded by the firms we regulate and aim to cover our costs as fairly and efficiently as possible.
More information
- Check our Handbook for full details of our authorisation fees
- Find out more about annual fees for consumer credit firms
- Find out how we define ‘consumer credit income’ (PDF)
- Find out more about authorisation and changing your legal status
- See how we calculate our annual fees