Comprehensive Guidance for Fintechs and Payment Providers in the United Kingdom
The UK EMI License (Electronic Money Institution license) is required for businesses that issue electronic money, provide payment services, or operate digital wallets in the UK.
Regulated by the Financial Conduct Authority (FCA), the EMI license ensures your business meets strict operational, financial, and compliance standards, including AML/KYC and safeguarding of customer funds.
7BaaS helps fintech startups, payment institutions, and crypto businesses navigate the FCA application process, prepare documentation, and maintain ongoing compliance — making your launch smooth, safe, and fully legal.
This license is essential for fintechs offering payments, e-money, prepaid cards, or wallet solutions in the UK.
Businesses that require an EMI license include:
Operating without an EMI license in the UK can result in penalties, fines, or FCA enforcement actions.
The FCA sets strict requirements for businesses applying for a UK EMI License:
7BaaS guides you to ensure all requirements are correctly met before submission, reducing delays and the risk of rejection.
Step | Activity | Duration |
1 | Regulatory Feasibility Assessment | 1 week |
2 | Documentation Preparation | 2–3 weeks |
3 | FCA Application Submission | 1–2 days |
4 | FCA Review & Feedback | 12–24 weeks |
5 | Post-License Compliance Setup | Ongoing |
The FCA review process is thorough; a well-prepared application significantly reduces processing time.
Evaluate your business model and eligibility
AML/KYC programs, risk management, business plan
Submission, response to FCA queries, and follow-ups
Safeguarding, reporting, and regulatory updates
Guidance for multi-jurisdiction fintech operations
We help businesses launch legally and confidently in the UK fintech ecosystem.
Operate legally under FCA supervision
Licensed businesses demonstrate credibility and reliability
Required for opening accounts and partnering with financial institutions
EMI license allows access to European payments ecosystem (subject to post-Brexit considerations)
Investors prefer fully licensed fintechs
With 7BaaS, businesses get full regulatory support from registration to ongoing compliance.
Get expert guidance from 7BaaS to prepare, submit, and maintain your FCA license. Ensure regulatory compliance and build credibility with investors, banks, and customers.
