S&W appointed as Monevium administrators

Insolvency firm S&W Partners has been appointed to manage the special administration and wind-down of payment services provider Monevium.

Partners Adam Stephens and Christopher Allen took control of the London-based business following a court order on 18 June 2026. The team was brought in because Monevium could no longer fund the operations required to return customer money following a prolonged period of non-trading.

The S&W Partners team confirmed that customer funds remain segregated from company assets across its correspondent banks and will continue to be safeguarded. The firm will now pursue three concurrent statutory objectives – returning relevant funds to customers, engaging with payment system operators, and winding up the institution.

Monevium had voluntarily restricted its Financial Conduct Authority regulated activities in February 2024 following the arrest of its majority shareholder by United States authorities.

Stephens, acting as a joint special administrator (JSA), said: “The JSAs will be focussed on returning funds as soon as is reasonably practicable. We expect to provide regular updates in the coming weeks on their progress, which includes publishing their proposals and preparing a Distribution Plan setting out how they will commence the return of the relevant funds to customers.”