FEES 3 Annex 8 Fees payable for authorisation as an authorised payment institution or registration as a small payment institution, including notification fees, 2 in accordance with the Payment Services Regulations

(1) small payment institution

500

(2) authorised payment institution - where the applicant is applying for authorisation to provide payment services in paragraph(s) (f) (money remittance) and/or (g) (consent given by electronic device) of Part 1 of Schedule 1 to the Payment Services Regulations

1,500

(3) authorised payment institution - where the applicant is applying for authorisation to provide payment services in any one or more of paragraph(s):

(a)

(cash placed on payment account);

(b)

(cash withdrawals enabled);

(c) (execution of direct debts,

etc);

(d) (execution of

direct debits, etc where credit line available);

(e) (issuing payments

and transactions)

of Part 1 of Schedule 1 to the Payment Services Regulations.

5,000

(4) authorised payment institution - where, at the time the application is made, the applicant intends to use agents2

3 for each agent registered with the FSA at the time of application.

This fee is in addition to any fee due under paragraph (2) or (3) of this table.2

(5) authorised payment institution - where, during the course of the FSA financial year (12 months ending 31 March), the firm notifies the FSA of any changes to the list of agents it has registered since authorisation2

3 for each change notified to the FSA during the FSA financial year.

No fee is due under paragraph (5) if the total number of notifications to the FSA during the FSA financial year numbers 100 or less.2