Syncom (UK) Limited

Reference number: 932543

Instant download

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).

Identity

Check their details

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.

  • No website on the FCA register

  • No phone number on the FCA register

  • No address on the FCA register

Also trades as
  • Hello E Wallet
  • i-epay

Company details

From the company's Companies House record.

Concerns on the company record

  • Companies House records this company in liquidation, but it is still authorised on the FCA register.
  • Accounts are overdue at Companies House.
  • This company has insolvency history on record.
Company number
08605513
Company status
Liquidation
Company type
Private limited company
Incorporated
11 July 2013 (13 years old)
Registered office
Export House, Cawsey Way, Woking, GU21 6QX, England
Nature of business
  • Information technology consultancy activities (SIC 62020)

Current directors and secretaries

Name Role Born Appointed
Shahid Azeem Director Dec 1958 11 Jul 2013

Check on the FCA register → Report a scam →

Activities and protection

What the record covers, and how you are protected

  • In an insolvency process
    Money 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 (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 the record

  • Restrictions placed on firm's authorisation
    Pursuant to regulation 11(1) of the Electronic Money Regulations 2011 (the “EMR”), the Financial Conduct Authority (“the Authority”) has decided to vary the authorisation granted to Syncom (UK) Limited (the “Firm”) pursuant to Part 2 of the EMR by imposing the following requirements (the “Requirements”) on the Firm with immediate effect. 1. The Firm must not, without the prior written consent of the Authority, provide any electronic money services for which it is authorised by the Authority pursuant to Part 2 of the EMR or payment services as defined under regulation 2(1) of the Payment Services Regulation 2017. 2. The Firm must not, without the prior written consent of the Authority, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its customers (whether in the United Kingdom or elsewhere). 3. The Firm must ensure that all relevant funds are appropriately ringfenced in a designated safeguarding account or accounts. For the avoidance of doubt, if complying with this provision of the Requirements requires a transfer between accounts, this must be done with the prior written consent of the Authority. 4. The Firm must by 19 April 2022 notify in writing all customers and its agents of the imposition and effect of these Requirements in a form to be agreed in advance with the Authority. 5. By 19 April 2022, the Firm must display, in a prominent place on its website www.syncom.io and any other communication channels, including for example but not limited to, mobile applications, a notice setting out the terms and effects of these Requirements in a form to be agreed in advance with the Authority. 6. The Firm must provide written confirmation to the Authority that it is in compliance with these Requirements by 19 April 2022, until such time as it is notified in writing by the Authority that it may cease to do so. 7. The Firm must use best endeavours to ensure any EMD agents used by the Firm notify in writing all of the EMD agents’ customers of the Firm of the imposition and effect of these Requirements in a form to be agreed in advance with the Authority. 8. The Firm must secure and preserve all records and/or information (physical or electronic) relating to electronic money services from its systems in their original form, or in a copy proved to be identical to the source material. These must be retained in a form and at a location within the United Kingdom, to be notified to the Authority in writing by 19 April 2022, such that they can be provided to the Authority, or to a person named by the Authority, promptly on its request. These Requirements shall take immediate effect and remain in force unless and until varied or cancelled by the Authority (either on the application of the Firm or of the Authority’s own volition).

Track record

FCA actions and complaints

No FCA disciplinary action, and no complaints recorded with the Ombudsman.

Download this page as a PDF report

£5 for a clean, timestamped copy you can keep, file or send on. It also helps keep the site free to use and free of ads.

Instant download

Common questions

Frequently asked questions

Is Syncom (UK) Limited FCA authorised?
Yes, Syncom (UK) Limited (FRN 932543) is authorised by the FCA to carry out regulated activities. It is also in an insolvency process, under the control of insolvency practitioners, so deal with the appointed office holders rather than the firm.
Is my money safe with Syncom (UK)?
Syncom (UK) is under the control of insolvency practitioners, so money it held is returned through the appointed office holders rather than by the firm. That takes time and can fall short. Where money is missing, the FSCS covers eligible claims up to its limits, and the Financial Ombudsman Service can still consider a complaint.
Is Syncom (UK) a scam or clone?
Syncom (UK) is a genuine FCA-listed firm. However, scammers sometimes clone authorised firms. Always check that the contact details you were given match those on the FCA register before sending money or sharing information.
What is Syncom (UK)'s Firm Reference Number (FRN)?
Syncom (UK)'s FRN is 932543. You can verify it on the FCA register.