What is the capital requirement to become an authorised Payment Institute (PI)?

To become an authorised PI the level of initial capital required depends on the payment services to be provided and is the greater of the following:<br/><br/>

<a href="/glossarycollection/account-information-service" style="color:#48277C;" target="_blank" title="Account Information Service"><u>AIS</u></a> - None<br/><br/>
Money remittance - €20,000<br/><br/>
<a href="/glossarycollection/payment-initiation-service" style="color:#48277C;" target="_blank" title="Payment Initiation Service"><u>PIS</u></a> - €50,000<br/><br/>

Payment institutions providing the following require initial capital of €125,000:<br/><br/>

(a) services enabling cash to be placed on a payment account and all of the operations required for operating a payment account;<br/><br/>

(b) services enabling cash withdrawals from a payment account and all of the operations required
for operating a payment account;<br/><br/>

(c) the execution of payment transactions, including transfers of funds on a payment account with the user’s payment service provider or with another payment service provider;<br/><br/>

(d) the execution of payment transactions where the funds are covered by a credit line for a payment service user;<br/><br/>

(e) issuing payment instruments or acquiring payment transactions.<br/><br/>

(c) The Financial Conduct Authority

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