We want to tell you about some important changes at Small World.
Small World has stopped accepting any new customers or agents, accepting funds or making payments for existing customers through all channels, including any of its agents, branches, web sites or mobile applications.
Chris Laverty, Russell Simpson and Jarred Erceg of Grant Thornton UK LLP were appointed Joint Administrators of Small World Financial Services Group Limited (‘the Joint Administrators’) and Joint Special Administrators of LCC Trans-Sending Limited on 18 June 2024 (‘the Joint Special Administrators’) (together ‘the Companies’ and the ‘Administrators’). The affairs, business and property of the Companies are being managed by the Administrators. LCC Trans-Sending Limited (the Company) traded as Small World UK and operated as the main trading entity in the Small World Group, providing cross border payment services to its UK customers and acting as a global ‘payment hub’ for the Small World Group.
Further to the Suspension of Services Notice on 10 June 2024, Small World UK and its associated Group businesses have ceased receiving or processing new money transfer transactions through its agents, branches, websites and mobile applications.
Following the appointment, our initial actions are to secure the assets of the Company and to identify amounts owed to the Company’s customers and creditors.
We will be seeking to return amounts owed to UK customers as soon as possible. This will require securing all books and records and undertaking a review exercise of amounts owed to customers. Unfortunately, while this work is being undertaken customers will not be able to access the amounts owed to them. Customers should note that when the Special Administrators are able to process amounts owed, such amounts will be reduced by costs associated with recovery and return to customers.
Although the Company is in special administration, the Company continues to be regulated by the Financial Conduct Authority (‘FCA’) and is still subject to the FCA’s rules.
To provide further detailed information, Frequently Asked Questions (‘FAQs’) have been uploaded to the Small World UK website which can be accessed at https://smallworlduk.grantthornton.co.uk.
We are focused on giving customers additional information and estimated timelines for the return of amounts owed at the earliest opportunity. Please check your emails and FAQs for updates.
Should you have any queries, please visit the FAQs in the first instance. Alternatively, please contact the Small World Customer Service team at support@smallworldfs.com or on 020 3198 0387.
The Administrators act as agents of the Companies without personal liability. Chris Laverty, Russell Simpson and Jarred Erceg are authorised by the IPA to act as insolvency practitioners. The Companies are registered in England and Wales, registered numbers: 05405279 and 04363859, respectively, registered office address: c/o Grant Thornton UK LLP, 11th Floor, Landmark, St Peter's Square, 1 Oxford St, Manchester, M1 4PB
________________________________________Dear Valued Customers,
Regrettably, we must inform you Choice Money Transfer, Inc. d/b/a Small World Money Transfer has ceased operations in the USA since June 10, 2024. We understand that this may cause inconvenience with your remittances, Choice Money Transfer, Inc. is committed to providing ongoing support to help you monitor the status of your transactions and refund any associated funds including fees.
For assistance with processing cancellations & refunds, please contact our customer service department for comprehensive guidance at:
Email: cs@smallworldfs.com
Phone: 1-877-268-6458
For Complaints Management you may address any special request or complaint at Consumer Protection Choice Money Transfer d/b/a Small World Money Transfer, 70 Grand Avenue, Suite 104, River Edge, NJ 07661 ; or E-mail us at cs@smallworldfs.com.
We appreciate your cooperation and understanding.
Sincerely,
Choice Money Transfer, Inc.
d/b/a Small World Money Transfer.
Where we have already sent the funds to a bank or other third party that we use to deliver the funds to the person you are trying to pay, it is possible that the bank or third party has paid the funds to your recipient or will do so in the usual timeframes, however we expect that not all payments our customers ask us to send will reach the person they’re trying to pay.
For payments which do not reach your recipient, Small World will include these in a process which aims to return funds to senders where possible.
First, check your transaction status at:
https://www.smallworldfs.com/en/track-my-order
We will be contacting customers to collect the information which we would need to make payments to you. You can also contact us using the information below. You can send us your payment details using the form available online by accessing:
https://www.smallworldfs.com/claim-form.pdf
Your local Small World agent may also have printed copies of this form available.
You can find all our contact information at:
https://www.smallworldfs.com/en/contact-us
Please think about fraud risks when discussing your payments and sharing your information with anyone. Please read our Fraud Awareness blog to understand the most common fraud tactics and how you can avoid falling victim to fraud.
We appreciate your patience and understanding at this time.
Small World Financial Services.