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Customers of Premier FX Limited

Premier FX Limited offered money transfer services to customers living and working abroad. Most of the firm’s business served expats living in Portugal and Spain.

On 13 August 2018 Premier FX Limited went into administration. The Financial Conduct Authority (FCA) appointed PKF Geoffrey Martin & Co as the administrator.

Premier FX Limited was only ever permitted to carry out certain payment services (known as ‘money remittance’). However Premier FX was found to be acting outside of the boundary of these permissions by also holding customer money in their accounts.

Will FSCS protect money customers held with Premier FX Limited?

No, because Premier FX Limited were not authorised by the FCA to hold customer money in their accounts. This means FSCS will be unable to compensate for any shortfalls in customers’ money held by Premier FX Limited.

How can Premier FX Limited customers get more information?

If you were a Premier FX customer and have any queries please contact the Administrators PKF Geoffrey Martin & Co on 020 7495 1100, or email premierfx@geoffreymartin.co.uk

To find out what FSCS protects visit our What we Cover page

FSCS only protects financial services from firms authorised by the FCA. If you want to know whether FSCS covers a financial service you use, you can check the FCA’s Financial Services Register, for a firm’s status and permissions. You can also ask your financial services provider for more information.

 

Channel website: https://www.fscs.org.uk/

Original article link: https://www.fscs.org.uk/news/2018/august/premier-fx-limited-customers/

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