Dear Agent,

Chris Laverty, Russell Simpson and Jarred Erceg of Grant Thornton UK LLP were appointed Joint Special Administrators of LCC Trans-Sending Ltd on 18 June 2024 (‘the Joint Special Administrators’) (‘the Company’). The affairs, business and property of the Company are being managed by the Joint Special Administrators.

The Company traded as Small World UK and operated as the main trading entity in the Small World Group, providing cross border payment services to its UK customers and acting as a global ‘payment hub’ for the Small World Group.

Further to the Suspension of Services Notice on 10 June 2024, Small World UK and its associated Group businesses have ceased receiving or processing new money transfer transactions through its agents, branches, websites and mobile applications.

Following the appointment, our initial actions are to secure the assets of the Company and identify amounts owed to the Company’s customers and creditors.

We will be seeking to return amounts owed to UK customers as soon as possible. This will require securing all books and records and undertaking a review exercise of amounts owed to UK customers. Unfortunately, while this work is being undertaken customers will not be able to access the amounts owed to them. Customers should note that when the Special Administrators are able to process amounts owed, such amounts will be reduced by costs associated with recovery and return to customers.

Should you be holding customer funds, please arrange for these funds to be deposited in full without deductions into the usual designated LCC Trans-Sending Limited bank account. Please do not action any refunds direct to customers.

If you believe you have commissions owing, please ensure you update your account on the Omnex platform.

It is important that no commission is deducted from customer funds, and that such funds are remitted in full into the usual designated LCC Trans-Sending Limited bank account.

Although the Company is in special administration, the Company continues to be regulated by the Financial Conduct Authority (‘FCA’) and is still subject to the FCA’s rules.

Please see the drop-down options below for Frequently Asked Questions (‘FAQs’).

We are focused on giving customers additional information and estimated timelines for the return of amounts owed at the earliest opportunity. Please check your emails, the News and Updates section and the FAQs on this website.

Should you have any queries, please visit the FAQs in the first instance. Alternatively, please contact the Small World Customer Service team at support@smallworldfs.com or on 020 3198 0387.

The Joint Special Administrators

For and on behalf of the Joint Special Administrators of LCC Trans-Sending Limited (in Special Administration) without personal liability.

The affairs, business and property of LCC Trans-Sending Limited (the Company) are being managed by Chris Laverty, Russell Simpson and Jarred Erceg, appointed as Joint Special Administrators on 18 June 2024.

 The Joint Administrators act as agents of the Company and without personal liability. Chris Laverty, Russell Simpson and Jarred Erceg are authorised by the IPA to act as insolvency practitioners. The Company is registered in England and Wales with registered number 04363859 and registered office address: c/o Grant Thornton UK LLP, 11th Floor, Landmark, St Peter's Square, 1 Oxford St, Manchester, M1 4PB

Whilst we undertake an urgent review to ascertain the status of customer transactions, all refund activity should be paused with immediate effect.

Please direct all customers to the Small World Customer Service team at support@smallworldfs.com or on 020 3198 0387.

You can also direct customers to our Frequently Asked Questions which are available at www.smallworldfs.com

Please ensure that no refunds are processed, and any monies held on behalf of LCC Trans-Sending Limited (trading as Small World UK) are deposited in full with no deductions into the usual designated LCC Trans-Sending Limited bank account.

Please direct all customers to the Small World Customer Service team at support@smallworldfs.com or on 020 3198 0387.

You can also direct customers to our Frequently Asked Questions which are available at www.smallworldfs.com

Please collate the amount of commissions you are owed and we will be in touch shortly regarding the amounts owing to you. It is important that no commission is deducted from customer monies, and that the customer monies are deposited in full with no deductions into the usual designated LCC Trans-Sending Limited bank account.

The Payment and Electronic Money Institution Insolvency Regulations 2021 introduced a special administration regime for payment and e-money institutions. A special administration is similar to an ordinary administration, however, the special administrators have an additional objective to return customer funds as soon as possible.

Following the special administration order, the Special Administrators are responsible for Small World UK, noting the firm continues to be FCA authorised. The Special Administrators are officers of the Court and need to comply with all insolvency law. The individuals appointed are authorised to act as licensed insolvency practitioners. The Special Administrators have statutory objectives which include engaging with authorities, including the FCA.

All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from Small World UK, Grant Thornton UK LLP or the FCA and you are suspicious about the caller’s identity, please end the call and call back using the phone number on their website. More information about this can be found on the FCA website at https://www.fca.org.uk/consumers/protect-yourself-scams.