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Guidance

An example of the calculation of the Variable Capital Requirement follows for an Authorised Person acting at the same time as a Money Remitter and a Payment Account Provider, with monthly payment volumes of $90mn and $120mn respectively for these activities, i.e. a total monthly payment volume of $210mn.
Tranche Monthly payment volume ($mn) Money Remitter and Payment Account Provider
0 < … ≤ 10 10 2.5% * 10 = 0.250
10 < … ≤ 100 90 1% * 90 = 0.900
100 < … ≤ 250 110 0.5% * 110 = 0.550
… > 250 - -
Total 210  
Variable Capital Requirement ($mn) 1.700