Dear Payer,
Chris Laverty, Russell Simpson and Jarred Erceg of Grant Thornton UK LLP were appointed Joint Administrators of Small World Financial Services Group Limited (‘the Joint Administrators’) and Joint Special Administrators of LCC Trans-Sending Limited on 18 June 2024 (‘the Joint Special Administrators’) (together ‘the Companies’ and the ‘Administrators’). The affairs, business and property of the Companies are being managed by the Administrators.
The Companies form part of 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, the Small World Group ceased receiving or processing new money transfer transactions through its agents, branches, websites and mobile applications.
All monies held in a prefunded position (in advance of paying out), or any other customer monies held for UK originated transactions, should be deposited in full without deductions into the usual designated bank account. As previously notified, please do not make any payments to intended recipients (beneficiaries).
Although LCC Trans-Sending Limited 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.
Update on Small World Financial Services Group Limited (in Administration) (SWFSG)
Please note the administration of SWFSG has now concluded. The Administrators filed their final report with the Registrar of Companies on 12 June 2026. Accordingly, SWFSG will be dissolved three months from this date.
As the administration has concluded and realisations were insufficient to pay a dividend to creditors, we are unable to take any further action in relation to creditor claims against SWFSG.
You can find a copy of the Administrators' final report on the Grant Thornton Insolvency Act Portal (Portal) at www.grantthornton.co.uk/portal, using the log in details we’ve previously provided.
If you have a query about the SWFSG administration that the final report doesn’t answer, please email the Small World Customer Service team at smallworlduk@uk.gt.com.
General updates and FAQs
Please see the drop-down options below for Frequently Asked Questions (‘FAQs’).
We will be providing regular updates throughout the special administration. Please check your emails, the News and Updates section, and FAQs for updates.
Should you have any queries, please visit the FAQs in the first instance. Alternatively, please contact the Small World Customer Service team at smallworlduk@uk.gt.com or on 0161 953 6906.
The Administrators
For and on behalf of the Joint Administrators of Small World Group Financial Services Limited (in Administration) and LCC Trans-Sending Limited (in Special Administration) without personal liability.
The affairs, business and property of Small World Group Financial Services Limited (In Administration) and LCC Trans-Sending Limited (In Special Administration) are being managed by Chris Laverty, Russell Simpson and Jarred Erceg, appointed as Joint Administrators and Joint Special Administrators on 18 June 2024 (together ‘the Companies’ and ‘the Administrators’).
The Administrators act as agents of the Companies without personal liability. Chris Laverty, Russell Simpson and Jarred Erceg are authorised by the IPA to act as insolvency practitioners. The Companies are registered in England and Wales, registered Numbers: 05405279 and 04363859, respectively, registered office address: c/o Grant Thornton UK LLP, 11th Floor, Landmark, St Peter's Square, 1 Oxford St, Manchester, M1 4PB.
An administration is an insolvency procedure regulated by the Insolvency Act 1986. The administrator’s role is to realise the assets for the benefit of creditors.
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.
