FCA Imposes Restrictions on Sendsii Ltd

FCA News & Press Releases

Filed January 23rd, 2026

Detected March 12th, 2026

Summary

The FCA has imposed restrictions on Sendsii Ltd, preventing it from carrying out any regulated activity. This action follows the suspension of the firm's registration by HMRC. Sendsii Ltd is required to return all customer funds.

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What changed

The Financial Conduct Authority (FCA) has imposed significant restrictions on Sendsii Ltd, effective January 23, 2026. These restrictions prevent the firm from conducting any regulated activities, including money remittance, without prior written consent from the FCA. This action was taken after HM Revenue and Customs (HMRC) suspended the firm's registration on October 9, 2025, indicating that Sendsii Ltd no longer met the necessary conditions for its FCA authorisation under the Payment Services Regulations 2017.

Sendsii Ltd is mandated to return all funds held for or on behalf of its existing customers in compliance with all legal and regulatory requirements. Consumers who were expecting funds from Sendsii Ltd and have not received them are advised to contact the FCA's Supervision Hub. The document also clarifies that customer funds are protected by 'safeguarding' under the Payment Services Regulations 2017, but are not covered by the Financial Services Compensation Scheme (FSCS). Consumers are advised to use alternative authorised payment firms and to be vigilant against potential scams.

What to do next

Sendsii Ltd must return all customer funds in accordance with legal and regulatory requirements.
Consumers expecting funds from Sendsii Ltd should contact the FCA Supervision Hub if funds have not been received.

Penalties

Restrictions preventing the firm from carrying out any regulated activity without prior written consent.

Source document (simplified)

FCA imposes restrictions on Sendsii Ltd

News stories First published:

11/03/2026

Last updated: 11/03/2026
On 23 January 2026, the FCA imposed requirements on Sendsii Ltd which prevent them from carrying out any regulated activity.

These requirements prevent Sendsii Ltd from carrying out any regulated activity, including money remittance, without the FCA’s prior written consent. The firm is required to return all funds held for or on behalf of existing customers in accordance with all relevant legal and regulatory requirements.

Full details of the requirements can be found on the Financial Services Register.

Consumers who need to send or receive money should use an alternative authorised payment firm. If you were expecting funds from Sendsii Ltd and have not received them, please contact our Supervision Hub.

Information and support for customers

Will I get my money back? Are my funds protected by FSCS?

You should contact the firm directly to get your money back.

Under the Payment Services Regulations 2017, there are rules on how customers’ money should be protected, and these requirements are known as ‘safeguarding’.

The Financial Services Compensation Scheme (FSCS) does not apply to payment services.

What is safeguarding?

Safeguarding is a key consumer protection measure within the Payment Services Regulations 2017 (PSRs) which are the rules setting out how payments firms should conduct their businesses. The purpose of safeguarding is to protect and return customer money if a firm was to fail.

Sendsii Ltd is required under the Payment Services Regulations 2017 to maintain appropriate measures to safeguard customers’ money. It does this by holding it separate from its own money in accounts with banks (or another credit institution). Effective safeguarding arrangements are critical to help ensure that customers’ money is protected and returned if a firm fails.

How to protect yourself

Be aware that fraudsters look for opportunities like these to target customers. If you have any concerns at all about a potential scam, contact us immediately.

You can use the FCA Firm Checker tool to make sure a financial firm is authorised by us and has our permission to provide the services you're looking for.

You'll also be able to find:

information on how you're protected
contact details for authorised firms If you're contacted unexpectedly by a financial business, make sure you reply using the contact details on the Firm Checker.

Find out more about how to protect yourself from scams.

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