Free tool
Payment and e-money application gap checker.
Identify FCA application gaps before submitting an SPI, API, small EMI or EMI application, with a readiness score and the items to complete in order of priority.
Identify FCA application gaps before submitting an SPI, API, small EMI or EMI application, with a readiness score and the items to complete in order of priority.
Thirteen questions on your application pack, set by the application type. The result appears on this page.
The rules the tool applies, in full. The result is guidance from your answers; the firm confirms it in a written proposal the same day.
Each answer scores 2 for “In place”, 1 for “In progress” and 0 for “Not started”. Priority items count double. The score is the total as a percentage of the maximum for the questions that apply to your firm.
| Result | Score |
|---|---|
| Ready for final review | 85% or above, with no priority item at its lowest answer |
| Targeted work before submission | 60% to 84%, or 85% and above with a priority item at its lowest answer |
| Build the foundations first | Below 60% |
The capital and projections questions apply to authorised payment institutions and authorised EMIs, which hold initial capital before authorisation. Priority items are those the FCA most often returns an application for, according to its published feedback on payment and e-money applications.
The FCA assesses an application as submitted. A complete application starts the three-month statutory period; missing or generic documents lead to questions that extend the assessment, or to the application being returned.
Business plans written from templates, unclear flows of funds, capital without evidence of its source, financial crime frameworks that do not match the business, and wind-down plans without costs or triggers.
Yes. Choose the application type first; the questions that apply only to authorised firms, such as initial capital, are hidden for small payment institutions and small EMIs.
No. The check runs in your browser and nothing is sent unless you choose to send the result to the firm through the contact form.
A review of the full pack against the FCA’s form and its published expectations, with each gap and inconsistency set out in writing and closed before submission.
A reply within three business hours and a written proposal on the licence, the requirements, the cost and the timing the same day.