How to Check if a Lender is Authorised by the Financial Conduct Authority (FCA) in the UK

In the UK, any company that lends money must be authorised by the Financial Conduct Authority (FCA). If a lender is not on the FCA register, they are operating illegally – and you have no consumer protection.

The warning signs of an illegal lender include no paperwork, refusing to give loan information, keeping your bank card or passport, using intimidation or violence, and adding endless charges so the debt never goes down.

Step-by-Step: How to Verify an FCA Authorised Lender

Step 1: Locate the Firm's Details

Before you borrow, get the lender's full legal name. Do not rely on their trading name or app name – many companies operate under multiple brand names.

Step 2: Access the FCA Financial Services Register

Go to register.fca.org.uk. This is the official, government-run database of all authorised financial services firms in the UK.

Step 3: Search for the Firm

Enter the lender's name in the search bar. The register will show you:

• The firm's Firm Reference Number (FRN) – currently seven digits long
• The firm's authorised status (should say "Authorised")
• What financial activities they are permitted to perform
• Any restrictions on their licence
• The firm's registered address and contact information

Step 4: Verify the Specific Permission for Lending

Do not stop at "Authorised." You need to confirm the firm is permitted to engage in consumer lending. Look for permissions such as:

• "Providing credit" (consumer credit)
• "Credit broking"
• "Lending"

A firm might be authorised for insurance but not for loans – check carefully.

Step 5: Cross-Check with HMRC for Money Service Businesses

For money transmission services (including some fintech lenders), the lender must also be registered with HMRC under anti-money laundering regulations. HMRC's internal guidance confirms that verification of FCA authorisation is a critical compliance step.

Red Flags That No Verification Can Fix

Even before you check the register, these signs indicate an illegal lender:

• They give you no paperwork or written agreement
• They refuse to provide information about the loan terms
• They keep your bank card, passport, or other personal items until the debt is paid
• They take things from you if you miss a payment
• The debt never seems to decrease despite your payments
• They threaten you or use intimidation tactics

What to Do If You Find an Unauthorised Lender

If you have borrowed from a lender not on the FCA register:

1. Stop making payments immediately – you are not legally obligated to repay an illegal lender
2. Report them to the Stop Loan Sharks 24/7 Helpline: 0300 555 2222
3. Contact the FCA directly through their website
4. Seek advice from Citizens Advice

Quick Reference: FCA Authorisation Checklist

• FCA Register search: Firm appears in search results
• Status: "Authorised" (not "Pending" or "Cancelled")
• FRN: Valid 7-digit number
• Permissions: Specific consumer lending permissions
• Address: Matches what the lender told you
• Contact info: Consistent across register and lender communications