How do I start a money remittance agency in the UK?

Asked Sep 5, 2018· 1 answer ·Developed Markets, EMEA, UK and Ireland, United Kingdom, Western Europe
Faisal KhanAnswered Sep 5, 2018

You can do that by going to FCA’s website and then applying for a Small Payment Institution (SPI) License.

The SPI license is the entry point towards starting a money transfer business. Here is a small 2-minute video I made for those interested in knowing the difference between an SPI vs an API (API being an Authorized Payment Institution).

SPI vs API License (UK) - Faisal Khan

Starting a Remittance BusinessRemittance AgentsMoney Transfer Operators (MTO)Digital MTOs Developed MarketsEMEAUK and IrelandUnited KingdomWestern Europe
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