Following recent discussions, we are required by the FCA to suspend all activities in relation to Nvayo’s electronic money authorisation.

This means that at this time, Nvayo cannot onboard new customers, or accept any form of payment to load to customer wallets or prepaid card. It also means that your Nvayo prepaid card will no longer work at merchants or ATMs. At this time, you cannot make any payments to your own bank account or to the account of a third party. We encourage customer to contact Nvayo if they would like to discuss their individual circumstances or are experiencing financial difficulty.

We would like to reassure customers that their money remains safely held in a UK bank in accordance with the FCA’s safeguarding requirements.

Nvayo is working with the FCA to provide assurance that our business operates in accordance with the relevant regulations and standards.  Nvayo is looking to take the necessary steps to address FCA concerns in order for the restrictions to be lifted.

More information regarding the FCA suspension can be found on the FCA register at: https://register.fca.org.uk/s/firm?id=001b000000m4IWmAAM

Further information will be provided as soon as more information is available.