Register a new legal status: payment institutions

How a payment institution can change its legal status with us, the evidence it needs to provide and the forms it needs to complete to transfer to a new registration or authorisation.

If you plan to change the legal status of your payment institution, for example from a partnership to a limited company, you must apply to us before you change status.

We’ll cancel the existing registration or authorisation and arrange for the registration or authorisation of the new business.

Providing different payment services

If your new business will offer payment services you are not currently registered or authorised to provide, you must apply using our online system, Connect, to:

Delivering the same payment services or fewer

If you’re offering the same payment services or fewer, you must complete and submit:

As we already know your PI business, the forms are shorter than a full registration or authorisation and the fees are less.

Tell us about your new business

The new legal status of your company

The change of legal status application requires you to provide evidence of your change of legal status, for example your new Companies House incorporation number.

Change in business managers, agents or qualifying holdings

You must notify us of changes to people responsible for operating your payment services or if you use different agents.

Change in qualifying holdings

If the qualifying holdings have changed in your new firm, you must tell us of the changes in the qualifying holdings.

Change in business details

If your basic details have changed, for example your trading name or contact details, complete a changing standing data form.

Submit your application to change legal status

Post the application to:

Payment Services Team, Authorisations Division, Financial Conduct Authority, 25 The North Colonnade, London E14 5HS

You must send:

  • the application form
  • changes in PSD individual forms, if applicable
  • changes in qualifying holding forms, if applicable
  • changes in PSD agent forms, if applicable
  • an amend standing data form, if applicable, and
  • a cheque for the application fee


The fee for a small PI to change its status is £250.

The application fees for an authorised PI to change its status vary according to the number of payment services the firm provides. Full details are provided in the application form.

All application fees must be by cheque and are non-refundable.

How long it takes

Although the standard timescales apply as for registration or authorisations of a new firm (3 months from receipt of a complete application, 12 months for incomplete), we would expect to be able to assess a change of legal status application more quickly as we already know your PI business.

Refusing applications

We will contact you if we have concerns about changes you are making to your firm, for example changes to firms or people with qualifying holdings, which might suggest that the firm is unable to satisfy the conditions of registration/authorisation.

Contact details

You can contact us by:

  • phone on 0300 500 0597
  • email on
  • post: Financial Conduct Authority, 25 The North Colonnade, London E14 5HS

Further information

Further information can be found in Chapter 4 of The FCA’s role under the Payment Services Regulations 2009: Our approach.