Premium Credit lends £650m towards FCA fees to date

Premium Credit has contributed over £650m to date to firms to pay the FCA’s Top Up fee invoices in convenient monthly instalments instead of single lump sum payments, helping them improve cash flow. 

This comes as the FCA issues two invoices per year. In the previous year, total fees exceeded £50k. Invoicing makes up 50% of that fee and it has to be paid by 1 April. 

According to Premium Credit, it has been offering finance options to cover FCA fees since 2005 and continues to work with firms in helping their cash flow work harder. 

Nigel Stewart, sales director at Premium Credit, said: “Our payment solutions have been specifically designed to help regulated firms manage their cash flow more effectively by providing an alternative payment method that covers the cost of FCA fees as well as any additional top up fees. 

“This approach offers businesses greater control over their cash reserves, particularly useful during these economically challenging times, enabling them to better meet their current business needs.”

He added: “The application process is digital and uncomplicated. We have invested constantly in technology to ensure that the entire customer journey is seamless, with most of the administration handled by us.”