Considering getting an FCA payments license?

Save yourself time, money and work by using Globank’s license instead.

We have a payments institution FCA license and can offer you a regulatory ‘umbrella’ which means your business can be appointed as our agent so that you can benefit from:

• Access a world of wholesale financial services from other regulated providers
• Advertise that your company is licensed by the FCA to gain credibility and official status
• Gain compliance and oversight by Globank which gives you some protection from FCA penalties or sanctions on unlicensed financial service providers.
• Show investors and business partners that you are operating in a professional capacity, to gain status and access additional funding.
• Charge higher fees for your services, whilst keeping clients happy because they are dealing with a more credible company.
• Access Globank’s suite of compliance and onboarding processes to streamline your operations whilst protecting your company from bad actors.
• Save 3-6 Months compared to getting your own FCA license, launch sooner and test your product on live customers without spending months on setup.
• Focus on what matters to you – selling your services and keeping your clients happy. Let us deal with the compliance burden for you.

How it works

Globank has a PI license that covers operations across the UK and Europe via the FCA passporting scheme *

Once you have joined the Globank Agency program, your business will operate as our official agent meaning that we will register your brand name and URLs with the FCA under our license.

Any contracts you sign with your clients will be made xxxxxxx (will the agent need to sign contracts under their own name or under globank? )

Once you have completed the setup process and your compliance training, then its time to launch your website as an official financial institution. You can add that xxxx is licensed under FCA license number xxx

Any clients can look up your brand name which will be listed on the FCA website under our license.

If your clients contract Globank, they will be referred to you and we maintain both a non-compete and Chinese wall to ensure that your position and client ownership is safeguarded.

If at any time you choose to leave our agency program to get your own license then you are free to do so. There are no penalties or lock-in periods.

Regulatory coverage brings your business out of the shadows and lets you operate with relative freedom, meaning that many licensed service providers will want to work with you.

Maintaining your own license is time consuming, with mountains of paperwork, dedicated compliance officers and numerous suitability tests required.

Globank short cuts this process and gives you the benefits of regulatory coverage, with much less red tape. There are rules of course and we do need you to provide a reasonable level of due diligence paperwork for your business activity. Usually all clients need to provide ID and proof of address in order to transact. We will automate these processes as much as possible to reduce manual time spent.