Find out how to apply to change the payment services you provide
Apply for the variation
You must apply for and be granted the variation before you begin providing the new payment service(s). If you don’t and you carry out payment services not covered by your authorisation/registration, then we can take enforcement action, as this would be a breach of the PSRs.
If you are an authorised PI, consider whether your capital requirements may change as a result of the variation.
If you are adding payment services, all PIs will be charged a non-refundable application fee, of either:
- £250 or
No fee is payable if you are only removing payment services.
See section 5 of the application form for more on when these fees are payable.
How to apply for a variation
To vary your payment services please complete the variation of payment services form.
We will decide on:
- a complete variation of payment services application within three months of receiving it, or
- an incomplete application within twelve months of receiving it
Further information can be found in Chapter 4 of our Approach Document.