We are an Authorised Payment Institution (API), operating under the Payment Services Regulations authorised and regulated by the FCA. The main difference between an API and a bank is that we are not licensed to use the customer's money for any purpose such as lending. There are other key differences between a Bank and an API, such as different "Conduct of Business" and capital adequacy rules.
If you are not a bank, what are you? Print
Modified on: Mon, 27 Sep, 2021 at 11:43 AM
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