Authorisation application fee – financial services

Find out how much your authorisation fee is likely to be before you go ahead with your application.

On 24 January we simplified our authorisation application fees including Variation of Permissions. In most cases, the application fee has increased. We have introduced fewer pricing categories to make our authorisation fees more transparent. Please refer to our recent Policy Statement for further details.

Any draft applications created before 24 January will incur the new charges.

The authorisation fee you’ll have to pay will fall into one of the pricing categories listed in FEES 3 Annex 1A. The full list of financial services permissions and the relevant pricing categories is in FEES 2 Annex 1. For more information please see Pricing Categories for application fees.

Intermediaries

Most financial advisers, mortgage brokers and general insurance intermediaries’ applications will fall into Category 4.

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 fees in Category 8.  
Friendly societies pay fees in Category 4.
Find out more about applying for PRA authorisation.

Consumer credit

The application fee for the authorisation of a consumer credit firm depends on whether it will need limited or full permission from us to carry on regulated activities.

Full permission application

Applications for full permission fall into either Category 3, 5 or 6, depending on the permission applied for (see FEES 3 Annex 1).

Limited permission application

Applications for limited permission fall into Category 3.

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 a Category 1 fee for authorisation as a home finance provider or home finance administrator and for full or limited consumer credit permissions. They pay the standard fees for any other permissions they apply for. They do not pay annual (periodic) fees for consumer credit.

NFP debt advice bodies pay no consumer credit application fee or annual (periodic) fees.

Claims management 

There are two application fees for Claims Management firms: 

  • If you are applying only to seek out persons who may have a claim, you will pay a Category 4 fee.
  • For all other claims management permissions, you will pay a Category 6 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.

Change your permission 

For more information about the fees payable to change (vary) your permission please see our application fees page.

Annual fee

The authorisation application fee is a one-off fee. In addition to this fee, you’ll also have to pay us a periodic 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.

Calculate your annual fee

More information

Page updates

09/06/2021: Information changed Change of Legal process