Authorised, but in an insolvency process
This firm is under the control of insolvency practitioners and may have stopped taking on new business. If you are or were a customer, deal with the appointed office holders rather than the firm.
What the FCA says
ATTENTION - Firm in an insolvency process
This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. If you are/were a customer check how this affects you with the firm or the appointed insolvency office holder(s).
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.
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No website on the FCA register
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No phone number on the FCA register
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Address
c/o Adam Stephens and Christopher Allen both of S&W Partners LLP, 14th Floor, 103 Colmore Row, Birmingham, B3 3AG, United Kingdom
In the full report: 1 background check
- Who else gives the postcode B3 3AG
Other names (3)
If you were contacted under any of these names, it is this firm.
- XPSPAY Trading name: A name it trades under now.
- Advanced Wallet Solutions Limited Former name: A name it was registered under before.
- XPS Former trading name: A name it used to trade under.
Past FCA permissions and consumer protection
- In an insolvency processMoney the firm held is returned through the appointed office holders, which takes time and can fall short. The FSCS covers eligible claims up to its limits, and the Ombudsman can still look at a complaint.
Show FCA detail (5 permissions)
- 1. Services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account.
- 2. Services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account.
- 3. Executing payment transactions (no credit line)
- 5. Issuing and/or acquiring of payment instruments.
- 6. Money remittance.
Limits on the record
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Voluntary Undertaking
1. To refrain from, save as is expressly set out below, taking any action which has the effect of disposing of, withdrawing, transferring, dealing with or diminishing the value of any of its own assets, or assets held for or on behalf of others, including client money or custody assets, other than in the ordinary and proper course of business or otherwise with the Authority's consent. 2. To refrain from, except with the Authority's written consent, onboarding any New Customers (the Authority acknowledges that the Firm has stated it ceased Onboarding New Customers with effect from 5 January 2024). 3. To refrain from, except with the Authority's written consent, undertaking any Regulated Payment Services for which it has permission (and any regulated services for which it does not have permission), for any client of the Firm, save that the Firm shall be permitted to execute payment instructions provided to it by its Existing Clients before the coming into force of these restrictions. 4. To refrain from, except with the Authority's agreement, recommencing any payment services for any client of the Firm.
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.
Concerns on the company record
- Companies House records this company in administration, but it is still authorised on the FCA register.
- This company has insolvency history on record.
- Company number
- 10251711 (opens Companies House in a new tab)
- Company status
- Administration
- Company type
- Private limited company
- Incorporated
- 25 June 2016 (10 years old)
- Registered office
- C/O Restructuring S&W Partners Llp 45, Gresham Street, London, EC2V 7BG
- Nature of business
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- Financial intermediation not elsewhere classified (SIC 64999)
Directors and company secretaries
| Name | Role | Born | Appointed | Other companies |
|---|---|---|---|---|
| Alexey Stepanov | Director | Sep 1983 | 25 Jun 2016 | 4 other companies |
Other companies run by its director
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
- 4
- closed down
- 2
- is FCA-registered
- 1
In the full report: all 4 companies, named
- What each company does, and whether it is still trading
- Which of its director sits on each board, and since when
- Any that went into liquidation or administration
- The one on the FCA register, including one no longer authorised
Key dates in its history
Monevium’s history from the FCA register and Companies House, newest first.
2024
28 February 2024
- FCA imposed a requirement (Voluntary Undertaking)
FCA register
2023
15 August 2023
- Changed its registered name from "Advanced Wallet Solutions Limited"
FCA register
2018
24 May 2018
- Became an authorised payment institution
FCA register
2017
2 May 2017
- Regulated by the FCA from this date
FCA register
2016
25 June 2016
- Incorporated at Companies House
- Aliaksandr Klimenka took control (75–100% of shares)
Companies House
In the full report: all 11 events
- All 11 events in its history (6 shown here)
- Every director appointment and resignation: 1
Firms connected to Monevium
Other FCA-listed firms that share a director, phone number or address with Monevium. A link shows who the firm is tied to, not whether either can be trusted.
- connected firms
- 3
- share a director
- 1
- share its postcode
- 2
In the full report: all 3 connected firms, named
- How each is linked: shared directors (1), the same postcode (2)
- Who links each one: the named directors, with dates
Firms like Monevium
Other firms of the same type (payment or money transfer firm), nearest first.
In Birmingham
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 Monevium
Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.
- 4 other companies its directors have run, named
- 1 background check on its contact details
- All 11 events in its history
- 3 connected firms, named, and who links them
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Frequently asked questions about this firm
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Sources and links
- Its entry on the FCA register register.fca.org.uk
- Its Companies House record gov.uk
- Report a scam to the FCA fca.org.uk