Variations of EMI services

See how to register changes in your electronic money services, including offering new payment services, changing services and stopping services.

You’re changing your services if you:

  • change the type of e-money issued, or
  • change the payment services provided (either by increasing or decreasing the range), or
  • for Authorised EMIs to remove or add any requirements

To change your payment services, complete a Variation of EMD Authorisation/Registration application via Connect.

Capital requirements for authorised EMIs

If you’re an authorised EMI and apply for a variation to your services, you need to consider whether your capital requirements (the capital you must hold to satisfy regulatory conditions) will change. When we assess your application we’ll contact you if we think you need to do anything further.

How long it takes to process your application

We’ll decide on a change of payment services application within:

  • three months from receiving the application (for complete applications)
  • 12 months from receipt (for incomplete applications)


Full details of the relevant fees can be found in the application form. There’s no fee if you are removing payment services.


You must be granted a variation of payment services before you start providing any new payment services, otherwise you are in breach of the Electronic Money Regulations and we can impose penalties.

Further information

You can find further information in Chapter 4 of The FCA’s role under the Payments Services Regulations 2017: Our approach.