Payment, wallet and crypto businesses that hold customer balances in Switzerland without lending them use this licence, the step between the sandbox and a full banking licence.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money, cryptoasset and consumer credit firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission, set against the regulator’s own published figures.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
Candidates introduced for managers in Switzerland and independent directors, each assessed against the regulator’s standard.
A reply within three business hours and a written proposal the same day: the licence, the requirements, the cost and the timing.
You will need managers living close enough to run the business from Switzerland, and a board of at least three, one third independent of management.
One engagement and one timetable, from scoping to launch. Speak to an expert about the people, the banking and the technology for this licence.
The regulator’s requirements, capital, timing, fees and the questions firms ask, from the regulator’s own publications.
A company that holds customer balances in Switzerland, such as a payment account, wallet or prepaid provider, accepts public deposits and needs a licence once the balances exceed the Banking Ordinance exemptions: settlement balances cleared within 60 days, small prepaid balances for future purchases of up to CHF 3,000 per person, and the CHF 1 million sandbox. The fintech licence covers deposits up to CHF 100 million without lending or interest; above that, or where deposits are invested or interest is paid, a banking licence applies. A payment business that moves money without holding deposits joins a self-regulatory organisation instead.
| Tier | Deposits | Conditions |
|---|---|---|
| Sandbox (Banking Ordinance, Article 6) | Up to CHF 1 million | No interest-differential business; written warning to depositors that FINMA does not supervise and no deposit insurance applies; on exceeding, report to FINMA within 10 days and apply within 30 days |
| Fintech licence (Banking Act, Article 1b) | Up to CHF 100 million | No investment of deposits and no interest; FINMA licence and supervision |
| Banking licence (Banking Act, Article 3) | Above CHF 100 million | Or where deposits are invested or interest paid |
| Requirement | Amount |
|---|---|
| Minimum capital | 3% of public deposits accepted; at least CHF 300,000 |
| Form | Fully paid in and maintained permanently; not lent to major shareholders or related persons |
| Growth | Shown to keep pace with deposits under the three-year budget |
FINMA’s guidelines require the budget under optimistic, realistic and pessimistic scenarios and a monthly liquidity plan for the first year under the pessimistic case.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | No statutory period; FINMA states that processing time depends on the project’s complexity and the quality and completeness of the application | FINMA, fintech licence |
| Regulator’s published figure | Preliminary enquiries answered in under 30 days on average, about 1 month; about 30 applications received since 2019 and 7 companies licensed by the end of 2025 | FINMA annual report 2025 |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 6 to 8 months after submission | The firm’s own figure, from the regulator’s published data and its own applications |
Figures published by the regulator are quoted as published and converted to months. The realistic timeline is the firm’s own, for a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Licensing fee | CHF 100 to CHF 500 per hour | Charged by time according to staff level and the importance of the matter; no flat fee for Article 1b persons |
| Annual base levy | CHF 3,000 | Per Article 1b person |
| Annual variable levy | By balance sheet and income | Two tenths by balance sheet total and eight tenths by gross income |
| Licensing audit report | At cost | Where FINMA orders one from an approved audit firm |
| Minimum capital | CHF 300,000 | Or 3% of deposits if higher |
| Professional fees | Fixed, in writing | Quoted after scoping |
A payment business that transmits money or value, issues means of payment such as cards or prepaid e-money, or operates a payment system, without holding public deposits beyond the Banking Ordinance exemptions, is a financial intermediary under Article 2 of the Anti-Money Laundering Act. It joins a FINMA-recognised self-regulatory organisation (SRO), which supervises it for anti-money laundering purposes; FINMA itself issues no licence. The activity is professional above CHF 50,000 of gross revenue a year, more than 20 contracting parties, assets under control above CHF 5 million or transaction volume above CHF 2 million a year, and money or value transfer is professional whatever its scale.
| VQF item | Amount |
|---|---|
| Application administration fee | CHF 2,000 |
| Legal and compliance review | CHF 300 to CHF 6,000 by effort |
| Annual membership fee | CHF 400 |
| Annual AML file fee | CHF 30, 20 or 10 per file by band, or a turnover-based fee of CHF 500 to CHF 10,000 |
| Minimum annual fee | CHF 1,250 |
| Advice | CHF 300 per hour |
Figures are from the VQF fee regulations in force from 1 January 2026, excluding VAT. Admission runs from submission of documents and payment, through a completeness check and a legal and compliance review, to an admission interview and written confirmation. SRO affiliation does not permit holding public deposits: settlement balances cleared within 60 days, small prepaid balances and the CHF 1 million sandbox are the limits, and beyond them the fintech or banking licence applies.
The licence covers Switzerland only and carries no EU or EEA passport. The business is conducted in Switzerland; cross-border activity is a change requiring FINMA’s approval and documentation of the cross-border risk. Groups serving the EU hold a separate EU authorisation, which the firm obtains alongside.
FINMA states that processing time depends on the complexity of the project and on the quality and completeness of the application, and reports that a relatively large share of applications did not qualify for a licence: about 30 applications since 2019 and 7 licences by the end of 2025, with 4 of those companies still operating. The firm plans around FINMA’s own requirements.
FINMA notes in its 2025 report a planned payment instrument institution licence intended to replace Article 1b; the firm tracks the proposal and advises on timing.
A fintech licensee holds client deposits as sight deposits at a bank or in Category 1 high-quality liquid assets, so a Swiss bank relationship is a licence condition rather than an afterthought. The firm arranges the deposit account and the operating accounts through institutions that serve regulated fintechs in Switzerland, during the application, so the company trades on licensing. See banking and payment processing.
There is no statutory period; FINMA states the time depends on the project’s complexity and the quality and completeness of the application, and answers preliminary enquiries in under 30 days on average. The firm plans for six to eight months after submission.
3% of the public deposits accepted and at least CHF 300,000, fully paid in, maintained permanently and not lent to major shareholders or related persons.
Licensing by time at CHF 100 to CHF 500 per hour, then an annual base levy of CHF 3,000 plus a variable levy by balance sheet total and gross income.
Only where it holds public deposits beyond the exemptions: settlement balances within 60 days, prepaid balances up to CHF 3,000 per person and the CHF 1 million sandbox. Money transmission, card issuing and payment systems without deposits need SRO affiliation under the Anti-Money Laundering Act.
No. It covers Switzerland only, and cross-border activity needs FINMA’s approval as a change. Groups serving the EU hold an EU authorisation alongside it.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm advises on authorisation, compliance, safeguarding, banking and transactions, and builds the white-label payment and card technology its clients launch on.
A written proposal on cost, timing and requirements, the same day: speak to an expert.
This guide is general information for firms considering authorisation and is reviewed against the regulator’s published requirements. It is not legal advice; requirements and fees change, and the regulator’s current publications take precedence.
The requirements, the cost and the timing for your business, in a written proposal the same day.