Section 18(4)

The applicant must hold professional indemnity insurance or a comparable guarantee, which covers— the territories in which the applicant proposes to offer account information services; and the applicant's potential liability to account servicing payment service providers and payment service users resulting from unauthorised or fraudulent access to, or use of, payment account information, up to such amount as the FCA may direct.

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Source: legislation.gov.uk · retrieved 2026-09-04