Premier Payment Solutions Ltd enters liquidation

PPS Money entered voluntary liquidation after experiencing significant financial difficulties. The directors determined that the firm could no longer continue trading and resolved to place it into liquidation.

The joint liquidators will now manage the liquidation process and provide further information to customers. 

PPS Money remains registered with the FCA and must continue to comply with our rules.

The joint liquidators are responsible for acting in the best interests of the people who are owed money by PPS Money. They must work as quickly and efficiently as possible.

We are liaising as appropriate with the joint liquidators.

Customers should contact the joint liquidators if they are concerned, have any questions or for any updates.

The joint liquidators will gather as much information as possible from customers of PPS Money about payments made to, or owed by, PPS Money.

Customers of PPS Money who believe that they are owed money by the firm should contact the joint liquidators using the contact details above.

No. The FSCS only applies to certain types of activity and does not cover payment services.

PPS Money was registered as a Small Payment Institution under the Payment Services Regulations 2017. Unlike some other payment firms, Small Payment Institutions are not required to safeguard customer funds under the PSRs.

Customers should monitor updates from the joint liquidators for information about the return of funds and the claims process.

You should proceed with caution if you are approached by a CMC or a law firm.

For the vast majority of clients, there is no benefit in involving a third party in reclaiming your assets.

If you use a firm such as this to assist in the return of your funds, they will likely seek a fee which may reduce what you get back.

If you are considering using a CMC or law firm to assist with the return of your funds, we suggest you first discuss this with the joint liquidators using the contact details provided above.