An EMI has to cancel its authorisation or registration if it stops issuing e-money.
Apply to cancel your registration or authorisation
If your firm stops providing electronic money services, you must apply to us to have your registration or authorisation cancelled. You will also no longer be able to provide payment services.
Permissions Department, Authorisations Division, Financial Conduct Authority, 25 The North Colonnade, London E14 5HS
If you don’t supply all the requested information, your application may be delayed or refused.
Before you apply
Before applying to cancel, you must:
- have stopped issuing e-money and providing payment services, or
- plan to stop issuing e-money and providing payment services within six months
You should have:
- paid any outstanding Financial Conduct Authority or Financial Ombudsman Service fees
- filed any due regulatory returns
- resolved any complaints, and
- returned any safeguarded funds or outstanding e-money to customers
We will remove your EMI from our register when we’re satisfied you’ve met these conditions.
There are no fees to cancel a registration or authorisation.
Further information can be found in Chapter 4 of The FCA’s role under the Electronic Money Regulations 2011: Our approach.