Notify changes to PSD and EMD individuals

Tell us if you change the person responsible for payment services in your payment or e-money institution.

We must ensure that anyone who is a director of your firm or responsible for the management of your payments services or e-money services is of good repute and has appropriate knowledge and experience. These are called Payment Services Directive (PSD) Individuals or Electronic Money Services Directive (EMD) Individuals.

You must tell us if:

  • there are new person(s) responsible for your payment and/or e-money services at your firm
  • there are changes to existing person(s) responsible for your payment and/or e-money services at your firm; and if
  • you are removing a person(s) responsible for your payment and/or e-money services at your firm

How to notify us of changes

To add, change or remove details of an individual at a either a payment institution or electronic money institution, you should complete the relevant application on Connect.

You can call us on 0300 500 0597 for queries on submitted PSD/EMD Individual applications.

If we think that adding the individual will have an adverse effect on your business, we’ll contact you.

To find out about changes to the process under PSD2, please see Chapters 4 and 5 of our Approach under the Payment Services Regulations 2017

When you complete the applications, please refer to Chapters 4 and 5 of our Approach under the Payment Services Regulations 2017.

We have produced notes to assist when completing the following applications:

To find out about changes to the process under PSD2, please see Chapters 4 and 5 of our Approach under the Payment Services Regulations 2017.