Bound Rates Limited

Reference number: 1036025

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Authorised by the FCA

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

This company holds another FCA record

A company can hold several FCA records, covering different parts of its business, and each one carries its own permissions and protection. The reference number you were given decides which record applies to you.

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: 2 background checks

  • When bound.co first appeared online, and whether it can receive email
  • Who else gives the postcode W1F 8FL
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Other names (1)

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

  • Bound 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 (7 permissions)
  • a) Services enabling cash placement on a payment account
  • b) Services enabling cash withdrawals from a payment account
  • c) Execution of payment transactions (not covered by a credit line)
  • d) Execution of payment transactions (covered by a credit line)
  • e) Issuing payment instruments or acquiring payment transactions
  • f) Money remittance
  • h) Issuing Electronic Money

Limits on what they may do

  • They will not appoint any agents or distributors.
    Bound Rates Limited will not appoint any agents or distributors.
  • They Limited will not provide any unrelated payment services.
    Bound Rates Limited will not provide any unrelated payment services.
  • They will not provide Payments Initiation Services or Account Information Services
    Bound Rates Limited will not provide Payments Initiation Services or Account Information Services

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
13036275
Company status
Active
Company type
Private limited company
Incorporated
23 November 2020 (5 years old)
Registered office
16 Great Chapel Street, London, W1F 8FL, England
Nature of business
  • Business and domestic software development (SIC 62012)

Directors and company secretaries

Name Role Born Appointed Other companies
Seth Michael Phillips Director Nov 1980 23 Nov 2020 2 other companies
Daniel Kindler Director Mar 1995 7 Dec 2020 2 other companies
OHS SECRETARIES LIMITED Corporate secretary Not published 12 Feb 2026 –

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
2
closed down
1
run together
2

In the full report: all 2 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 2 companies these 2 directors run together
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Filed accounts and finances

Year to 31 December 2022Full accountsNot audited

Total equity

£10.9m

No earlier figure to compare

Cash at bank

£10.8m

Up £9.87m from £970k

Employees (average)

2

Same as 2

Owed within a year

£55.4k

−2.9% from £57.0k

* Cash at bank usually includes customers’ money.

Assets and liabilities

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.

Accounts filed at Companies House for company 13036275. 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

Bound Rates’s history from the FCA register and Companies House, newest first.

Key events (11) All events (14)

2026

19 February 2026

  • FCA imposed a requirement (They Limited will not provide any unrelated payment services.)
  • FCA imposed a requirement (They will not appoint any agents or distributors.)
  • FCA imposed a requirement (They will not provide Payments Initiation Services or Account Information Services)
  • Became an authorised e-money institution

FCA register

2025

20 December 2025

  • Bound Holdings Limited took control (75–100% of shares)

Companies House

30 May 2025

  • Regulated by the FCA from this date

FCA register

2021

24 June 2021

  • Daniel Kindler stopped being a part-owner
  • Seth Michael Phillips stopped being the majority owner

Companies House

2020

23 November 2020

  • Incorporated at Companies House
  • Daniel Kindler became a part-owner (25–50% of shares)
  • Seth Michael Phillips became the majority owner (50–75% of shares)

Companies House

In the full report: all 14 events

  • All 14 events in its history (11 shown here)
  • Every director appointment and resignation: 2
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Firms connected to Bound Rates

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

connected firms
2
share its postcode
2

In the full report: all 2 connected firms, named

  • How each is linked: the same postcode (2)
  • Who links each one: the named directors, with dates
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Get the full report on Bound Rates

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

  • 2 other companies its directors have run, named
  • 2 background checks on its contact details
  • All 14 events in its history
  • 2 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Bound Rates Limited FCA authorised?
Yes, Bound Rates Limited (FRN 1036025) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since February 2026 and works as a payment or money transfer firm. The FCA has placed 3 limits on what it may do.
What is Bound Rates’ website?
The FCA register lists the website bound.co for Bound Rates. If you were given different contact details, use these to check with the firm before going any further.
Is Bound Rates a scam or clone?
Bound Rates 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 Bound Rates?
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 Bound Rates to the Financial Ombudsman Service, free of charge.
Who owns Bound Rates?
Bound Rates is owned by Bound Holdings Limited, which holds 75–100% of shares, 75–100% of votes and can appoint and remove the board, since 20 December 2025. Before that, it was controlled by Mr Daniel Kindler and Mr Seth Michael Phillips.
Who runs Bound Rates?
Companies House lists 2 directors of Bound Rates: Seth Michael Phillips and Daniel Kindler.
How long has Bound Rates been in business?
The company was formed on 23 November 2020, and has held its current FCA authorisation since February 2026.
What do Bound Rates’ latest accounts show?
Its latest accounts, to 31 December 2022, show total equity of £10.9m (no earlier figure to compare) and cash at bank of £10.8m (up £9.87m from £970k).
Does Bound Rates use any other names?
It trades as Bound.

Sources and links

The full report on Bound Rates Limited

£19.99 · Instant PDF download

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