Business
LCC Small World Customers still Waiting for Refunds After Administration
Published
2 years agoon

Thousands of people are still waiting to receive funds sent via LCC Trans-Sending, also known as Small World Financial Services Group Ltd (Small World). The money transfer company ceased trading on June 10th, and since then worried customers have been trying to contact the business in order to get non-paid payments returned.
Peruvian Jazmin Guzmán, who has lived in Portugal for over five years, had used LCC Small World since 2021 up to last June. She is one of thousands of victims who lost money recently and is now losing a sizeable amount of time trying to recover it.
“I used this app for three years to send money to my relative in Peru, and I never had problems until June when Small World fell,” Guzmán said. “On Saturday, June 8th, I made a transfer through the Small World app with payment to a debit card. Days passed, and I saw that the money was not reaching my family member in Peru. So I contacted customer service by phone, and they told me that they were having some problems, but that the money would arrive in the following days – which never happened.”
Guzmán also contacted LCC Trans-Sending via its Facebook page but is no longer receiving replies from them. “When I called by phone, after not getting any reply on social media, I realized they no longer answered any calls. Everything was going straight to an answering machine,” she told Euronewsweek. “Then I got a message with a form and a request to fill it and return it to LCC Small World with ID proof. I followed the request and sent it. However, many days after sending it, I received another message saying that I needed to contact my bank requesting the cancellation of the transaction so that they could refund me.”
In the Small World app, there was a cancellation under supervision. The only way Guzmán could communicate with Small World was through a WhatsApp number in Spain.
“Here in Portugal, I only had a phone number that they did not answer. I asked them what the cancellation meant, and they replied with the same instructions about requesting the cancellation from my bank. I then approached the bank, and I was told that this process takes a while because they have to analyze it in details. They also said I would end up having to pay a percentage to have my money back.”
Over a month after sending funds via LCC Small World, Jazmin Guzmán finally heard from the company. “On July 9th, I received an email from Small World indicating that my transfer had been cancelled. I asked them on WhatsApp what it meant, but they told me the same thing about having to request cancellation of the transaction from my bank.”
Jazmin’s money was in limbo, between the money transfer company and a bank, because LCC Trans-Sending closed to new business and stopped accepting funds from customers on June 10th, only two days after the Peruvian migrant had used her debit card to pay for a service that would never arrive at its destination.
On June 18th, 2024, LCC Trans-Sending Limited (LCC) entered special administration under the Payment and Electronic Money Institution Insolvency Regulations 2021. A day later, on June 19th, the headline ‘Special Administrators Appointed to Small World UK’ landed in the inboxes of customers, announcing that Chris Laverty, Russell Simpson, and Jarred Erceg of Grant Thornton UK LLP were appointed Joint Special Administrators of LCC Trans-Sending Ltd.
The affairs, business, and property of the company trading for almost two decades as Small World UK are currently being managed by the Joint Special Administrators. The statement received via email and seen by Euronewsweek says, “Following appointment, our initial actions are to secure the assets of the Company and identify amounts owed to the Company’s customers and creditors.
We will be seeking to return amounts owed to UK customers as soon as possible. This will require securing all books and records and undertaking a review of amounts owed to UK customers. Unfortunately, while this work is being undertaken, customers will not be able to access the amounts owed to them. Customers should note that when the Special Administrators are able to process amounts owed, such amounts will be reduced by costs associated with recovery and return to customers.
Although the Company is in special administration, the Company continues to be regulated by the Financial Conduct Authority (‘FCA’) and is still subject to the FCA’s rules.”
Jazmin Guzmán and thousands of other LCC Small World customers in the UK, Portugal, Italy, Spain, and Switzerland are still to get any refund.
If you have been impacted by Small World Money Transfer which has gone bust and want to share your story, use our contact form to reach out.
Marcio Delgado is a Journalist, Producer and Influencer Marketing Manager working with brands and publications in Europe, America and Asia.

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