Cobanq Ltd

Reference number: 508565

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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: 3 background checks, 1 thing worth a closer look

  • When cobanq.com first appeared online, and whether it can receive email
  • What kind of line 020 8175 2519 is
  • Whether E14 5AB is a shared office: 26 other firms give it
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Other names (6)

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

  • CoRemit Trading name
  • Speedy Remit Trading name
  • Zak Money Exchange Limited Former name
  • Zak Money Exchange Ltd Former name
  • Burq Fx Former trading name
  • ZAK MONEY 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
04995400
Company status
Active
Company type
Private limited company
Incorporated
15 December 2003 (22 years old)
Registered office
Level39 One Canada Square, Canary Wharf, London, E14 5AB, England
Nature of business
  • Activities auxiliary to financial intermediation not elsewhere classified (SIC 66190)

Directors and company secretaries

Name Role Born Appointed Other companies
Ahmad Shah Director Jan 1981 3 Feb 2025 1 other company
Sheroz Nadeem Director May 1997 6 Feb 2025 1 other company

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
still active
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
  • All 9 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 March 2025Micro-entity accountsNot audited

Net assets

£330k

−1% from £334k

Employees (average)

6

Same as 6

Owed within a year

£5,260

Same as £5,260

Assets and liabilities

In the full report: all 6 years of accounts

  • Every year from 2020 to 2025
  • The chart, over every year
  • Every filed figure, year by year
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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.

There is no turnover or profit: small companies do not have to publish them.

Accounts filed at Companies House for company 04995400. 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

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

Key events (14) All events (36)

2026

16 January 2026

  • Changed its registered name from "Zak Money Exchange Limited"

FCA register

2025

29 April 2025

  • Syed Wajhe-Ul-Hassan stopped being a part-owner

Companies House

16 January 2025

  • Ahmad Shah took control (75–100% of shares)

Companies House

2023

1 December 2023

  • Khuram Shahzad gave up control
  • Syed Wajhe-Ul-Hassan became a part-owner (25–50% of shares)

Companies House

2020

12 February 2020

  • Changed its registered name from "Zak Money Exchange Ltd"

FCA register

2019

23 January 2019

  • Khuram Shahzad took control (75–100% of shares)

Companies House

1 January 2019

  • Syed Adil Hussain Shah gave up control

Companies House

2018

24 May 2018

  • Became an authorised payment institution

FCA register

2016

6 April 2016

  • Syed Adil Hussain Shah took control (75–100% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date

FCA register

2012

6 January 2012

  • Regulated by the Financial Services Authority from this date
  • Supervised by HMRC under the money laundering rules from this date

FCA register

2003

15 December 2003

  • Incorporated at Companies House

Companies House

In the full report: all 36 events

  • All 36 events in its history (14 shown here)
  • Every director appointment and resignation: 14
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Firms like Cobanq

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

In London

StoneX Financial LtdLondonAuthorisedReal Transfer LimitedLondonAuthorisedOnafriq UK LimitedLondonAuthorisedDaytona Capital Management LimitedLondonAuthorisedSable International FX LimitedLondonAuthorisedTrolley Payments UK LtdLondonAuthorised

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 Cobanq

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
  • 3 background checks on its contact details, 1 flagged
  • 6 years of accounts, charted
  • All 36 events in its history

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Frequently asked questions about this firm

Is Cobanq Ltd FCA authorised?
Yes, Cobanq Ltd (FRN 508565) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since May 2018 and works as a payment or money transfer firm. The FCA has placed no limits on its permissions.
What is Cobanq’s phone number and website?
The FCA register lists the phone number 020 8175 2519 and the website cobanq.com for Cobanq. If you were given different contact details, use these to check with the firm before going any further.
Is Cobanq a scam or clone?
Cobanq 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 Cobanq?
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 Cobanq to the Financial Ombudsman Service, free of charge.
Who owns Cobanq?
Companies House lists one person with significant control of Cobanq: Mr Ahmad Shah (75–100% of shares). Before that, it was controlled by Mr Syed Wajhe-Ul-Hassan, Mr Syed Adil Hussain Shah and Khuram Shahzad.
Who runs Cobanq?
Companies House lists 2 directors of Cobanq: Ahmad Shah and Sheroz Nadeem.
How long has Cobanq been in business?
The company was formed on 15 December 2003, and has held its current FCA authorisation since May 2018.
What do Cobanq’s latest accounts show?
Its latest accounts, to 31 March 2025, show net assets of £330k (−1% from £334k).
Does Cobanq use any other names?
It trades as CoRemit and Speedy Remit. It has previously used 4 other names, including Zak Money Exchange Limited, Zak Money Exchange Ltd and Burq Fx.

Sources and links

The full report on Cobanq Ltd

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