MSB Fees Notice 2024

Summary

This notice sets the fees payable by money service businesses (MSBs) registered or applying to register with the JFSC for the 2024 calendar year, issued under the Financial Services (Jersey) Law 1998 and the Financial Services Commission (Jersey) Law 1998. It has since been superseded by a later annual fees notice but sets out the fee amounts and payment timing that applied through 2024.

• Application fee: £3,805 payable with an application for registration to carry on money service business.
• Annual fee: £3,805 payable by any person registered to carry on money service business at any point during the calendar year.
• Payment due date: Four weeks from receipt of the invoice if already registered on 1 January, otherwise on registration.
• Late payment fee: An additional 5% of the unpaid principal is charged the day after the due date, and again on the first day of each subsequent calendar month the fee remains unpaid.
• Late filing fee: £100 for each complete month or part thereof that a required document (including supervisory risk data) remains unfiled or undelivered past its due date, unless the JFSC has agreed in writing to a later date.

Key obligations

• MSB applicants must pay a £3,805 application fee with their registration application.
• Registered MSBs must pay a £3,805 annual fee for any calendar year in which they are registered at any point.
• Registered MSBs must pay the annual fee within four weeks of receiving the invoice (or on registration if not already registered on 1 January), or incur a 5% late payment surcharge that recurs monthly.
• Registered MSBs must file or deliver required documents (including supervisory risk data) by their due date or pay a £100 late filing fee per month or part month, unless the JFSC has agreed in writing to a later filing date.

Applies to

Money service businesses (MSBs), Applicants for registration to carry on money service business

Deadlines

• 1 January - 31 December 2024: Period for which the fees set out in this notice are effective.
• four weeks from receipt of the invoice: Due date for payment of the annual fee if the firm is already registered on 1 January; otherwise due on registration.
• day after the due date, and 1st day of each subsequent calendar month: Points at which a 5% late payment fee on unpaid annual fee principal is applied.

Related documents

• MSB Fees Notice 2025 replaces this document