The Financial Conduct Authority has imposed restrictions on Bazar Money Transfer Limited (BMTL) that prevent it from providing any regulated payment services, and has confirmed those restrictions through a Second Supervisory Notice. BMTL is registered with the FCA to provide money remittance services to retail and corporate customers. The FCA acted after concluding BMTL was no longer meeting the conditions for registration as a small payment institution, imposing restrictions on 21 November 2025 and maintaining them on 6 March 2026 after considering representations from the firm. The FCA advised customers needing to send or receive money to use an alternative authorised or registered payment services firm and noted that BMTL is not registered to carry on cryptoasset business and must not provide those services.
Financial Conduct Authority 2026-04-08
Financial Conduct Authority restricts Bazar Money Transfer from providing regulated payment services
The Financial Conduct Authority has confirmed restrictions on Bazar Money Transfer Limited, preventing it from providing regulated payment services, through a Second Supervisory Notice. The authority concluded Bazar Money Transfer Limited no longer meets conditions for registration as a small payment institution and advised customers to use alternative authorised or registered payment services firms, noting the firm is not registered to carry on cryptoasset business and must not provide such services.