Payment institution authorisation in Ireland
The Central Bank of Ireland authorises payment institutions under the European Union (Payment Services) Regulations 2018. The same three-stage process applies as for e-money institutions, starting with a pre-application meeting. Capital depends on the services, and the CBI expects strong governance and senior people in Ireland.
Facts under review · last checked 2026-10-08 · confirm figures with the regulator before relying on them
Regulator · Central Bank of Ireland (CBI) ↗
Key facts
- Minimum initial capital
- €20,000 (money remittance only), €50,000 (payment initiation) or €125,000 (services 1 to 5 of PSD2 Annex I)PSD2-Art-7as of 2026-10-08Source ↗
- Process
- Three stages: exploratory (initial meeting and key information check), assessment, and authorisation decision. A Pre-Application Key Facts Document must be sent at least 5 working days before the initial meetingas of 2026-10-08Source ↗
- CBI service standards
- Assessment: 90% within 90 business days of the start of the assessment phase. Decision: 90% within 10 business days of a satisfactory response to the 'minded to authorise' letteras of 2026-10-08Source ↗
- Head office
- A payment institution must have its head office in the same Member State as its registered office and carry out at least part of its payment services business therePSD2-Art-11(3)as of 2026-10-08Source ↗
- EU reform status (PSD3/PSR)
- Negotiated text approved by the European Parliament ECON committee on 5 May 2026; plenary indicatively scheduled for 14 December 2026as of 2026-10-08Source ↗
Realistic timeline
Who does what, and how long each phase usually takes once work starts. The regulator’s share is outside anyone’s control.
- HartsizScoping and key facts document3–6 weeks
- YouHires, capital and full application pack8–14 weeksHartsiz drafts the pack; the client supplies people, capital and decisions
- RegulatorCBI exploratory stage, assessment and decision26–60 weeksOutside our control; the 90-business-day standard runs only once assessment formally starts
Estimated end to end: 9–18 months. Not a guarantee.
What the regulator expects to see
- Irish company with head office in Ireland and part of the payment business carried on there
- Board and pre-approval controlled function (PCF) holders who pass the CBI fitness and probity assessment
- MLRO and AML/CFT framework under the Irish Criminal Justice (Money Laundering and Terrorist Financing) Acts
- Safeguarding arrangements for client funds
- ICT risk-management framework under DORA
Questions we get
Is the pre-application meeting optional?
No. The CBI requires an initial meeting before a formal application, with a key facts document of roughly 15 to 20 pages sent at least 5 working days in advance.
Can we passport an Irish PI licence?
Yes. Once authorised, a PI can provide its services in other EU/EEA states after the passporting notification procedure.