FCA Imposes Restrictions on Bazar Money Transfer Limited

The Financial Conduct Authority (FCA) has imposed restrictions on Bazar Money Transfer Limited (BMTL), preventing the firm from providing regulated payment services to protect consumers.

Bazar Money Transfer Limited (BMTL), previously registered with the FCA as a small payment institution, was authorised to offer money remittance services to both retail and corporate customers.

However, the FCA determined that BMTL no longer met the required conditions for registration. As a result, immediate action was taken to restrict the firm from carrying out any regulated payment services, ensuring consumer protection remains a top priority.

Regulatory Action to Protect Consumers

On 21 November 2025, the FCA imposed formal restrictions on BMTL’s operations. Following further representations made by the firm, the FCA reviewed the case and, on 6 March 2026, issued a Second Supervisory Notice confirming that the restrictions would remain in place.

These measures are designed to prevent potential risks to consumers and maintain trust in the UK’s financial system.

What This Means for Customers

Customers who need to send or receive money are advised to use alternative authorised or registered payment service providers to ensure their transactions are secure and protected.

Any BMTL customers who have not received expected funds should contact the FCA’s Supervision Hub for assistance.

It is also important to note that BMTL is not registered to provide cryptoasset services and must not offer such services to customers.

This action highlights the FCA’s ongoing commitment to safeguarding consumers and ensuring that only firms meeting regulatory standards are permitted to operate within the financial services sector.