Ace Money Transfer Limited

Reference number: 506692

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Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

In the full report: 3 background checks

  • When acemoneytransfer.com first appeared online, and whether it can receive email
  • What kind of line 0161 274 9388 is
  • Who else gives the postcode M1 3BE
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Other names (6)

If you were contacted under any of these names, it is this firm.

  • ACE Trading name
  • Acel Trading name
  • ACE REMIT Trading name
  • ACE Union Trading name
  • Aftab Currency Exchange Limited Former name
  • Cash n Cash Former trading name

FCA permissions and consumer protection

  • Handle payments & transfers Funds safeguarded
    Your money must be kept in a separate safeguarded account. If the firm fails, all safeguarded funds should be returned to you. With no upper limit, unlike the capped amounts under FSCS. Safeguarding works differently from FSCS, but protects your full balance when the rules are followed correctly.
  • Complaints Ombudsman, free
    You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
Show FCA detail (1 permission)
  • 6. Money remittance.

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
04502952
Company status
Active
Company type
Private limited company
Incorporated
5 August 2002 (24 years old)
Registered office
1 Portland Street, Manchester, M1 3BE, England
Nature of business
  • Financial intermediation not elsewhere classified (SIC 64999)

Directors and company secretaries

Name Role Born Appointed Other companies
Aftab Ashraf Director May 1973 20 Aug 2002 5 other companies
Rashid Ashraf Director Aug 1978 11 Jun 2026 1 other company
Unniza Ali Secretary Not published 24 Nov 2025 –

Other companies run by these 2 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
5
closed down
1
is FCA-registered
1

In the full report: all 5 companies, named

  • What each company does, and whether it is still trading
  • Which of these 2 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • The one on the FCA register
  • The 1 company these 2 directors run together
  • All 5 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 December 2024Group accountsAudited

Turnover

£18.0m

+21% from £14.8m

Profit before tax

£2.96m

+18% from £2.52m

Net assets

£22.2m

+7.8% from £20.6m

Cash at bank

£16.5m

+50% from £11.0m

* Cash at bank usually includes customers’ money.

Turnover and profit

About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

The figures for the year to 31 December 2024 were read from the printed accounts, because the filing does not tag them in a form that can be read automatically. They were checked against the accounts’ own totals.

These are group figures: the firm and the companies it owns, combined.

Accounts filed at Companies House for company 04502952. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Ace Money Transfer’s history from the FCA register and Companies House, newest first.

Key events (8) All events (22)

2025

23 April 2025

  • Changed its registered name from "Aftab Currency Exchange Limited"

FCA register

2018

1 June 2018

  • Became an authorised payment institution

FCA register

2016

6 April 2016

  • Aftab Ashraf became a part-owner (25–50% of shares)
  • Rashid Ashraf became a part-owner (25–50% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date

FCA register

2009

1 November 2009

  • Regulated by the Financial Services Authority from this date

FCA register

9 September 2009

  • Supervised by HMRC under the money laundering rules from this date

FCA register

2002

5 August 2002

  • Incorporated at Companies House

Companies House

In the full report: all 22 events

  • All 22 events in its history (8 shown here)
  • Every director appointment and resignation: 6
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Firms connected to Ace Money Transfer

Other FCA-listed firms that share a director, phone number or address with Ace Money Transfer. A link shows who the firm is tied to, not whether either can be trusted.

connected firm
1
share a director
1
share its postcode
1

In the full report: the connected firm, named

  • How it is linked: shared directors (1), the same postcode (1)
  • Who links it to this firm: the named directors, with dates
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Firms like Ace Money Transfer

Other firms of the same type (payment or money transfer firm), nearest first.

In Manchester

Bayze Trading LtdManchesterRegisteredEasy Cash Card LimitedManchesterRegisteredEdward Olakunle AdebanjoManchesterRegisteredFibonatix (UK) LimitedManchesterAuthorisedGlo Currency UK LimitedManchesterAuthorisedKamal Exchange LimitedManchesterRegistered

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on Ace Money Transfer

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 5 other companies its directors have run, named
  • 3 background checks on its contact details
  • All 22 events in its history
  • 1 connected firm, named, and who links them

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Frequently asked questions about this firm

Is Ace Money Transfer Limited FCA authorised?
Yes, Ace Money Transfer Limited (FRN 506692) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since June 2018 and works as a payment or money transfer firm. The FCA has placed no limits on its permissions.
What is Ace Money Transfer’s phone number and website?
The FCA register lists the phone number 0161 274 9388 and the website acemoneytransfer.com for Ace Money Transfer. If you were given different contact details, use these to check with the firm before going any further.
Is Ace Money Transfer a scam or clone?
Ace Money Transfer is a genuine FCA-listed firm, and the FCA has published no warnings about fake versions of it. Scammers do copy real firms, though, so check that any contact details you were given match the ones on the register.
Is my money safe with Ace Money Transfer?
It depends on the product, but payment and e-money balances should be safeguarded in a separate account, with no upper limit on the protected amount. You can also refer complaints about Ace Money Transfer to the Financial Ombudsman Service, free of charge.
Who owns Ace Money Transfer?
Companies House lists 2 people with significant control of Ace Money Transfer: Mr Aftab Ashraf (25–50% of shares) and Mr. Rashid Ashraf (25–50% of shares).
Who runs Ace Money Transfer?
Companies House lists 2 directors of Ace Money Transfer: Aftab Ashraf and Rashid Ashraf.
How long has Ace Money Transfer been in business?
The company was formed on 5 August 2002, and has held its current FCA authorisation since June 2018.
What do Ace Money Transfer’s latest accounts show?
Its latest accounts, to 31 December 2024, show turnover of £18.0m (+21% from £14.8m) and profit before tax of £2.96m (+18% from £2.52m).
Does Ace Money Transfer use any other names?
It trades as ACE, Acel, ACE REMIT and ACE Union. It has previously used 2 other names: Aftab Currency Exchange Limited and Cash n Cash.

Sources and links

The full report on Ace Money Transfer Limited

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