Money Transfer Firm LCC Halts New Customers After FCA Clampdown
Firm Pulls Plug on New Business
Payment services giant LCC Trans-Sending Limited (LCC), which trades as Small World Money Transfer, Bayba (UK), and others, has stopped taking on new customers. The firm’s move follows a tough ultimatum from the Financial Conduct Authority (FCA), aimed at protecting consumers from potential risks.
From June 10, 2024, LCC slammed the brakes on new business and froze the acceptance of funds from current clients. The FCA has forced LCC into a strict agreement that bans onboarding new customers and agents, plus stops receiving fresh funds from existing users.
Trading Names Affected
- Small World Money Transfer
- Small World Financial Services
- Express Funds
- Global Link
- Bayba (UK)
The full terms of this FCA-imposed undertaking are listed on the Financial Services Register.
Can You Still Access Your Cash?
The FCA warns some customers might struggle to access recently deposited funds. They’re working closely with LCC to ensure your money is handled properly and safely.
LCC has issued an update for anyone affected, reassuring customers and providing guidance on next steps.
Need Help? Here’s Who to Contact
If you’re having trouble accessing your money—whether directly with LCC or through one of its agents—get in touch with the company immediately:
Email: [email protected] Phone: +44 20 3198 0387
