Find out how to apply to change the payment services you provide, or add or remove limitations or requirements.
You should consider whether your capital requirements may change because of the variation.
When not to apply for a variation
You can't apply to vary your status from being:
- authorised to registered, or
- registered to authorised
For example, if you're an authorised electronic money institution or payment institution, you can't vary your permission to become a registered small electronic money institution or small payment institution.
To change your status from being authorised to being registered, or vice versa, you must submit a new application[1].
You also can't apply to vary:
- from being a registered account information service provider (RAISP) to being a payment institution or electronic money institution
- your registration/authorisation from being a payment institution to an electronic money institution (or vice versa)
How to apply for a variation
Please apply via Connect[2].
Once we receive your application, we'll usually make a decision within 3 months if it's complete or 12 months if it's incomplete.
Variation fees
The fee for variation will be:
| Variation type | Institution | Fee |
| Authorisation | Authorised payment institution | 50% of Category 4[3] |
| Registration | Small payment institution | 50% of Category 2[3] |
| Authorisation | Authorised e-money institution | 50% of Category 5 or 50% of Category 4[4] |
| Registration | Small e-money institution | 50% of Category 3[5] |
We will reject your application without assessing it if you don't pay the correct fee[5].
There's no fee if you're only removing services.
