How to Check if a Lender Is FCA Authorised

Before you share your personal details with any company offering a loan, there is one check worth doing first: confirming that the firm is authorised by the Financial Conduct Authority (FCA). The FCA is the regulator that oversees nearly all consumer credit activity in the UK, and only firms on its register are allowed to offer most types of lending and credit broking. Checking the register takes a couple of minutes and can be the difference between borrowing from a regulated firm and handing your details to a scammer. Here is how to do it, step by step.

Why FCA authorisation matters

The FCA exists to make sure financial firms are run properly, treat customers fairly, and meet minimum standards for advertising, complaints handling, and affordability checks. An authorised firm has been vetted before it was allowed to trade and is monitored afterwards. If something goes wrong, you have access to the Financial Ombudsman Service for complaints and, for certain products, Financial Services Compensation Scheme (FSCS) protection. A firm that is not authorised offers none of these safeguards, which is why loan sharks and clone scammers go to such lengths to look legitimate.

How to check the register

The Financial Services Register is a free, public database of every authorised firm and approved individual in the UK. To check a company, follow these steps:

• Get the firm's details. Ask for the company's full trading name and, where possible, its firm reference number (FRN). Every authorised firm has one.
• Search the register. Open the Financial Services Register and search by name or FRN.
• Match the details. Check that the firm's registered address, website, and trading names match what you were given. Scammers often use names that are one word away from a real firm's.
• Confirm the permissions. The register shows exactly what the firm is permitted to do, such as consumer credit lending or credit broking. Make sure the firm's offer matches its permissions.

Clone firms and how to spot them

One of the most common tactics is the clone firm: a scam that impersonates a genuine authorised company, copying its name, website, and even its reference number. Because the real firm is on the register, a quick search can look reassuring, but the details will not quite match. Compare the email address, phone number, and website domain with the official details shown on the register. If anything differs, even slightly, stop and contact the real firm directly using the details on the register. The FCA also publishes a warning list of unauthorised firms and clone scams, which is worth checking before you share any information.

What to do if you spot an unauthorised firm

If you believe a firm is operating without authorisation, or that you have been contacted by a clone, report it. You can report an unauthorised firm or clone to the FCA, and report suspected fraud to Action Fraud. If you have already paid money or shared personal details, free and impartial help is available from MoneyHelper and Citizens Advice. The earlier you act, the easier it is to limit any harm.

Checking is quick, and it is worth it

At Mini Money, checking authorisation is exactly the step we would want every borrower to take. Mini Money is a trading name of Post Pine Ltd, which is authorised and regulated by the FCA under reference number 1036139, and you can find us on the Financial Services Register. We are a credit broker, not a lender, and we only work with lenders who are themselves authorised. Taking two minutes to check the register before you apply is one of the simplest ways to protect yourself, and it costs nothing.