Premier Payment Solutions (PPS Money) liquidation: how to claim your money back

Premier Payment Solutions Ltd, which traded as PPS Money and MTBS, entered voluntary liquidation on 10 September 2026. If you sent money through PPS Money, used one of its agents, or are owed money by the firm, contact the joint liquidators directly - the FSCS does not cover this type of firm, so a claim through the liquidation is the route that matters.

This guide covers what liquidation means for your money, who to contact, why the usual compensation scheme doesn't apply here, and how to avoid the scams that tend to follow a firm failure like this.

Key takeaways

• PPS Money entered voluntary liquidation on 10 September 2026; joint liquidators from BTG Begbies Traynor now run the process.
• The FSCS does not cover this failure. PPS Money was a Small Payment Institution, and the FCA confirms these firms are not required to safeguard customer funds under the Payment Services Regulations 2017.
• Whether you get money back depends on what the liquidators recover - contact them directly and register your claim.
• The FCA specifically warns customers to be alert to scam calls claiming to be from PPS Money, the liquidators, or the FCA itself.
• You don't need a claims management company - the FCA says most customers gain nothing from one, and it will take a fee out of any money you recover.

What happened to PPS Money?

On 10 September 2026, Bai Cham and Gary Shankland of BTG Begbies Traynor were appointed joint liquidators of Premier Payment Solutions Ltd, according to the FCA. The firm traded as PPS Money and MTBS and was registered as a Small Payment Institution under the Payment Services Regulations 2017 (the PSRs). It provided money-remittance services, mainly supporting money service businesses with cross-border payments, including through a network of FCA-registered agents acting on its behalf.

The FCA says the firm entered liquidation after its directors determined it could no longer continue trading. PPS Money remains registered with the FCA and must keep complying with FCA rules during the process; the FCA says it will continue to engage with the joint liquidators to seek the best outcome for customers.

For questions about your money or the liquidation process, contact the joint liquidators:

• Phone: +44 (0)1634 975440
• Website: www.btguk.com/restructuring
• Address: BTG Begbies Traynor, Unit F33, Innovation Centre Medway, Maidstone Road, Medway, ME5 9FD

Is my money protected by the FSCS?

No. This is the point most worth understanding early, because it differs from some other recent firm failures. The FCA is explicit: the Financial Services Compensation Scheme (FSCS) only applies to certain types of activity and does not cover payment services. PPS Money was registered as a Small Payment Institution, and unlike some other payment firms, Small Payment Institutions are not required to safeguard customer funds under the PSRs.

That means there is no separate, ring-fenced pot of your money sitting with a custodian, and no FSCS claims page to fall back on. What you may recover instead depends on what the joint liquidators are able to gather and distribute through the liquidation process. This is a materially different position from firms that must safeguard client money - so don't assume the same protections apply here that applied to other administrations or liquidations you may have read about.

What should I do if I have money with PPS Money?

If you believe PPS Money owes you money - because you sent a payment that didn't arrive, used one of its agents, or are a money service business it supported - the FCA sets out one main step:

• Contact the joint liquidators using the details above and tell them about any payment made to, or owed by, PPS Money.
• The liquidators will gather information from customers about these payments to assess claims.
• Keep your own records: payment confirmations, transfer receipts, agent details, and any correspondence with PPS Money.
• Watch for updates from the joint liquidators on the claims process and return of funds - there's no separate portal to check other than what they publish.

Do I need a claims management company?

No - and the FCA is direct about this. It says "for the vast majority of clients, there is no benefit in involving a third party in reclaiming your assets." A claims management company (CMC) or law firm approaching you about this liquidation will typically take a fee out of whatever you recover. If you're considering using one, the FCA suggests discussing your situation with the joint liquidators first, at no cost to you.

What evidence helps

• payment confirmations or receipts for any transfer made through PPS Money or its agents
• records of which agent you used, if applicable
• any correspondence with PPS Money, MTBS, or its agents about a payment
• bank statements showing the payment leaving your account
• any reference number the joint liquidators give you once you make contact

Watch for scams

The FCA specifically warns customers to stay alert to fraud during this period. If you get an unexpected call from someone claiming to be from PPS Money, BTG Begbies Traynor, or the FCA, end the call and contact the relevant organisation directly using the numbers above, not any number the caller gives you.

When and how to escalate

If PPS Money or one of its agents mishandled a payment before the liquidation - for example a transfer that went missing or was delayed through no fault of yours - you may still have grounds for a complaint separate from your liquidation claim. If a firm doesn't resolve a complaint within eight weeks, or you disagree with its final response, you can take it to the Financial Ombudsman Service, which is free, independent, and keeps nothing from what it awards you. Whether money is actually paid back through the liquidation depends on what the liquidators recover - a real limit, but not a reason to skip registering your claim.

Sources: FCA, Premier Payment Solutions Ltd enters liquidation (Last checked: 14.09.2026); FCA, How to claim compensation if a firm fails (Last checked: 14.09.2026); FCA, Using claims management companies (Last checked: 14.09.2026); FCA, Protect yourself from scams (Last checked: 14.09.2026); BTG Begbies Traynor, Restructuring (Last checked: 14.09.2026); Financial Ombudsman Service, financial-ombudsman.org.uk (Last checked: 14.09.2026).

How HeyRefund can help

If PPS Money's liquidation leaves you chasing a missing payment or an old complaint, HeyRefund helps you pull your payment records, agent correspondence, and any prior complaint into a clear file you can send to the joint liquidators or the Financial Ombudsman Service. If your money went missing through a different payment provider rather than a firm failure, see our guide on PayPal, Wise and other payment provider refund refusals, or if you sent money to the wrong account entirely, see what to do if you sent money to the wrong account. If you've been through a firm liquidation before, our guide to the Prosper Capital/Crowd2Let liquidation and FSCS claims covers a case where FSCS cover did apply, for comparison.

Everything above you can do yourself for free. HeyRefund just makes the file easier to build and harder to ignore.