ePayments has begun the process of closing its doors and entered into an orderly, solvent wind-down.
As you will be aware, the business has been closed for the past three years after our regulator (the UK Financial Conduct Authority (the FCA)) identified some weaknesses in our financial crime controls. We have over this period been working hard to ensure these are up to the required standard, but in these extremely challenging and unprecedented global economic conditions, and with the business being restricted for such an extended period we can no longer sustain the business to build back to what the FCA require and a ‘business as usual’ state.
In practice, this means that we will not return to full operations and will now focus entirely on providing customers with refunds and working through the process of closing your accounts as we close down the business.
Your funds with us remain in safeguarded accounts. The FCA is aware of our decision and this communication.
As we close the business over the coming months we encourage those with funds in their e-Wallets to withdraw these funds, and those not currently open for refunds to supply any required information required for us to open the refund for you.
If you experience any difficulties with the refund process, please contact us so we may assist you.
We will be in contact again in the weeks ahead with more information about the wind-down process.