Money Transfer / E-Money

Account frozen - AML review funds inaccessible; International transfer not received / delayed beyond T+1; APP fraud via e-money platform - reimbursement refused

Mandatory ADR

Max award: £445,000 (from 1 Apr 2025)

8 weeks firm; FOS 6 months; court if urgent

Uphold rate: 34% (FOS 2024/25)

Key Legislation

Electronic Money Regulations 2011; Payment Services Regulations 2017; Payment Services Regulations 2017 — EMR 2011 (SI 2011/99); PSR 2017 Reg 75-91; Money Laundering Regs 2017 Reg 28; Proceeds of Crime Act 2002 s.335; PSR 2017 Reg 86 (execution time T+1); Reg 91 (defective execution liability); DISP 1.6

Complaint Route: Financial Ombudsman Service

Type: Ombudsman (binding on firm)

Max award: £445,000

Uphold rate: 34%

Average resolution: 180 days

Pre-conditions: Complain to firm first; firm has 8 weeks to resolve; then refer to FOS within 6 months of final response

Visit FOS website

Companies in This Sector

Revolut (FCA 730427)Wise (FCA 900450)PayPal (FCA 604278)Monzo

Annual complaint volume: 305,726 (FOS 2024/25 total)

Note: Compensation range: D&I £250-£750 if unjustified; account restored

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Regulator

Financial Conduct Authority (FCA)

Website

Coverage

Tier 1 — Financial (FOS expertise)