The UK Financial Conduct Authority (FCA) confirmed today that Halo Financial Limited entered special administration.

Louise Longley and Bai Cham of BTG Begbies Traynor (Central) LLP (Begbies) were appointed as joint special administrators.

Halo is authorised by the FCA to provide payment services under the Payment Services Regulations 2017 (the PSRs).

On 30 April 2026, Halo agreed to a voluntary undertaking, which restricted the activities it can carry out, including conducting payment services and accepting any additional funds.

The special administrators are responsible for managing customer claims against the firm and returning funds to customers where possible.

If you have any questions about the administration process, please contact them directly.

Email: halo@btguk.com.

As Halo continues to be authorised by the FCA, the regulator will continue to engage with the special administrators and seek the best outcomes for consumers.

Customer funds are not protected by the Financial Services Compensation Scheme. FSCS only applies to certain types of activity. This does not include payment services.

Payments firms need to comply with requirements on how customers’ money should be protected, known as ‘safeguarding’. This means that the firm was required to hold money separately for its customers.

The special administrators will carry out an assessment of all funds held by the firm to work out which are safeguarded for customers and which belong to the firm. They will then begin the process of returning money to customers.