The UK Financial Conduct Authority (FCA) today announced the cancellation of Easyremit Limited’s registration as a small payment institution (SPI).

The firm was registered by the Authority on 23 November 2018 as an SPI. It was granted permission to provide money remittance.

The firm submitted a Return (covering the period 1 January to 31 December) for the year 2018, 2019, 2020, 2021, 2022, 2023 and 2024. In each Return, it reported having undertaken no payment transactions. This is consistent with its filed accounts at Companies House, which show it to have been dormant since at least 2020.

The Authority concluded that the firm did not provide payment services within 12 months beginning with the date on which the registration took effect. This provides a basis for cancelling its registration in accordance with Regulation 10(1)(a) (as applied by regulation 15) of the PSRs.

Furthermore, the Authority has decided that the firm has not provided payment services since registration and therefore it no longer requires its registration.

Accordingly, the FCA has cancelled the firm’s registration as a SPI in order to protect the interests of consumers, in accordance with regulation 10(1)(a) and regulation 10(1)(h) (as applied by regulation 15) of the PSRs.