Since Brexit, operating conditions for financial services companies like Mollie have changed in the United Kingdom. One of these changes is that firms operating with a European licence will no longer be able to provide services in the UK market from 2024 onwards.
We’re very happy to announce that Mollie has now received its UK licence. This means we’ll be transitioning all UK-based customers to a new User Agreement.
What do I need to do?
Customers currently have a contractual relationship with Mollie B.V. - our European entity. Our UK-based customers will need to enter into our new User Agreement (which includes both Mollie B.V. and Mollie UK) so we can continue providing our services.
We’ll contact impacted customers with further details about how they continue with the new Mollie UK User Agreement. We’ll include the process we’re taking to transition the current account to a ‘UK Organisation Account’, and any required action.
What is changing in the new Mollie UK User Agreement?
There are no changes to pricing or the products we offer to our customers in the UK.
There will be some minor changes in how we operate as we transition to our new UK licence, including how we safeguard funds for some payment methods. However, these operational changes will not impact how you use Mollie or the services we provide.
Why is this happening now?
After Brexit, the UK government set up a temporary permissions regime for all financial services firms using an EU licence to continue operating in the UK until the end of 2023.
Mollie UK has now been granted its UK licence so we can continue to serve our UK customers.