FCA keeps Bazar Money Transfer payment-services restrictions in place
Bazar Money Transfer cannot provide regulated payment services while FCA restrictions remain in force
Change
The FCA kept restrictions in place preventing Bazar Money Transfer Limited from providing regulated payment services after finding the firm no longer met the conditions for small payment institution registration.
Why it matters
The restrictions remove Bazar Money Transfer Limited's ability to process regulated remittance activity while the FCA restrictions remain in force. Customers needing money-transfer services must use another authorised or registered payment services firm, and the firm must not provide cryptoasset services because it is not registered for cryptoasset business.
Implications
- — Bazar Money Transfer Limited must stop carrying out regulated payment services while the FCA restrictions remain in force.
- — Retail and corporate customers needing to send or receive money must use an alternative authorised or registered payment services firm.
- — Payments onboarding and counterparty teams must block Bazar Money Transfer Limited from regulated payment-service flows while the FCA restriction remains on the Financial Services Register.
- — Bazar Money Transfer Limited must not provide cryptoasset exchange or custodian wallet services because it is not registered with the FCA for cryptoasset business.
Who is affected
- — Bazar Money Transfer Limited
- — Retail and corporate customers using Bazar Money Transfer Limited for remittance services
- — Payments onboarding and counterparty teams
- — Firms checking FCA registration status for payment and cryptoasset services
What to watch
- — Initial FCA restriction date: November 21, 2025
- — Second Supervisory Notice date: March 6, 2026
- — Restriction status on the Financial Services Register
- — FCA updates on Bazar Money Transfer Limited's registration status
- — Customer instructions for expected funds not received