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Home > Prudential Regulation Authority > New Bank Start-up Unit

New Bank Start-up Unit

​ ​What you need to know from the UK's financial regulators


Starting a new bank

The New Bank Start-up Unit is a joint initiative from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) – the regulators – giving you the information and support you need if you’re thinking of becoming a new bank in the United Kingdom.

Any firm that wants to be a bank (which means carrying on the regulated activity of accepting deposits) must be authorised to do this by the PRA, which it will only do if the FCA is also content for it to be authorised. Find out more about the PRA and FCA in our ‘Who are we?’ factsheet.


Latest news and publications​


PRA and FCA New Banks seminar, 9 June slides - now available here.

Becoming an authorised bank - the five key stages​ ​

The authorisation process has five key stages and these sections include information on what you will need to work through if you wish to set up a new bank. Click on the boxes to find out more. ​




You may also wish to download the guide which includes this information and materials including FAQs. Also see the Resources page. If there are any words or phrases that you don’t understand, or a question that comes to mind, please check the FAQs. We also have glossaries in the PRA Rulebook and FCA Handbook, or contact us (see details below).

​Contact us

​If you have any queries about becoming a new bank email us or call 020 3461 8100.