United Kingdom · Payments & e-money
Ace Union Limited
ACE Union Limited is a private limited company registered in England and Wales, with its registered office in Manchester. The FCA has authorised the firm as an electronic money institution since 3 May 2018, under firm reference number 900476. It is a wholly owned subsidiary of ACE Money Transfer Limited, formerly Aftab Currency Exchange Limited. Under the ACE Union brand it offers individual customers a mobile e-money account, prepaid cards and international money transfers, which it launched in 2024.
Licences and registrations
Held by Ace Union Limited (LEI 894500O4K4U039Y5IR85). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - E-Money InstitutionsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised E-Money InstitutionE-Money / Stored Value Institution | 900476 | United Kingdom | Active | 2018-05-03 | — |
|
Search the register ↗ |
Trading names on the register: ACE PAY (FCA-EMI), ACE (FCA-EMI)
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- ACUIGB22XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of ACUIGB22 marks reverse billing.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2021-08-07
- Last updated
- 2021-08-07
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Ownership
Group subsidiary
100% ACE Money Transfer Limited
Firm type
E-money and accounts
Trades as ACE Union
- Ownership
- ACE Money Transfer Limited (Companies House 04502952) owns 100% of the firm, and the 2024 accounts name Aftab Ashraf and Rashid Ashraf as the ultimate controlling parties.
- Direct parent
- ACE Money Transfer Limited, United Kingdom 100%
- Head office
- 1 Portland Street, M1 3BE Manchester, United Kingdom
- Company register
- Companies House 09530233
- Incorporated
- 8 Apr 2015
Online
- Websites & references
- aceunion.com ↗
- Official social accounts
- None found
Sources · 8 pages consulted
- find-and-update.company-information.service.gov.uk/company/09530233/officers
- find-and-update.company-information.service.gov.uk/company/09530233/persons-with-significant-control
- find-and-update.company-information.service.gov.uk/company/09530233/filing-history
- find-and-update.company-information.service.gov.uk/company/09530233/filing-history/MzQ4MjUzNjE0N2FkaXF6a2N4/document?format=xhtml&download=1
- aceunion.com/about_us.php
- aceunion.com/privacy_policy.php
- aceunion.com/faqs
- aceunion.com
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The FCA authorises the firm as an electronic money institution under the Electronic Money Regulations 2011 and the Payment Services Regulations 2017, with firm reference number 900476.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 900476 | In its own name | Active | aceunion.com ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Payment schemes and card networks
- Faster Payments Access not stated aceunion.com ↗
CHAPS Access not stated aceunion.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
According to its 2024 accounts, the firm provides e-money services to individual customers, including digital wallets and prepaid cards, and launched cross-border payments in 2024. The accounts also state that it plans business accounts for SMEs.
The firm serves UK customers under its FCA authorisation and keeps customer balances in GBP accounts.
- Revenue
- GBP 5,570
- Sells to
- Consumers
- Serves customers in
- United Kingdom
Leadership
Researched 29 Sep 2026 · Sources
- Executive
- Aftab Ashraf Director
- Executive
- Rashid Ashraf Director
- Executive
- Unniza Ali Company Secretary
Recent events
Researched 29 Sep 2026 · Sources
-
Leadership
Tariq Mehmood stepped down as a director on 22 June 2026 and Rashid Ashraf was appointed a director on 26 June 2026.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
The firm appointed Unniza Ali as company secretary on 16 March 2026.
find-and-update.company-information.service.gov.uk ↗ -
Funding
The firm increased its share capital from GBP 1,000,000 to GBP 1,500,000 by an allotment of shares on 21 February 2025.
find-and-update.company-information.service.gov.uk ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- ACUIGB22XXX
- How the BIC breaks down
- ACUIBank
- GBCountry · United Kingdom
- 22Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 894500O4K4U039Y5IR85
- LEI record
- View on GLEIF ↗
- Licence no. · FCA-EMI
- 900476
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate on the UK company number the register gives.
- Register-entry ID
- 1d00b7e3754e
- Companies House no.
- 09530233 ↗
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Payment services
- E-money / stored value
- Licensed in
- United Kingdom
- Website (register)
- WWW.ACEUNION.COM ↗
- Country · region
- United Kingdom · Europe & Central Asia
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
- Direct parent
- Ace Money Transfer Limited · United Kingdom894500QEMGMRG67KPB44 ↗
The Ace Money Transfer Limited group has 4 institutions in the directory, in 2 countries: 2 hold a BIC and 2 do not.
Including Ace Money Transfer Limited, Ace Money Transfer Limited, Aftab Currency Exchange Limited.
See the Ace Money Transfer Limited group →Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control.
Persons with significant control
Companies House · company 09530233 ↗ · as at 9 October 2026
Companies House lists 1 person with significant control for Ace Union Limited: 1 company.
| Name | Type | Nature of control | Notified |
|---|---|---|---|
| Ace Money Transfer Limited ↗ | Company · UK | 75–100% of shares | 6 April 2016 |
| Aftab Ashraf | Individual · through Ace Money Transfer Limited | 25–50% of shares · 25–50% of votes · Can appoint or remove directors | 6 April 2016 |
| Rashid Ashraf | Individual · through Ace Money Transfer Limited | 25–50% of shares · 25–50% of votes · Can appoint or remove directors | 6 April 2016 |
Companies report persons with significant control to Companies House. Elucidate has not verified them.
A person with significant control holds more than 25% of the shares or votes, can appoint or remove the board, or has significant influence or control. Dates of birth and addresses are not shown.
Matched on the Companies House number that the FCA register gives for this firm.
See the register at Companies House ↗Addresses
- Registered address
- PICCADILLY HOUSE FLOOR 49 PICCADILLY MANCHESTER M1 2AP UNITED KINGDOM
- Operational address
- PICCADILLY HOUSE FLOOR 49 PICCADILLY MANCHESTER MANCHESTER M1 2AP UNITED KINGDOM
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>ACUIGB22XXX</BICFI>
<LEI>894500O4K4U039Y5IR85</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>ACUIGB22XXX</BICFI>
<LEI>894500O4K4U039Y5IR85</LEI>
<Nm>ACE UNION LIMITED</Nm>
<PstlAdr>
<TwnNm>MANCHESTER</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>PICCADILLY HOUSE FLOOR 49 PICCADILLY MANCHESTER M1 2AP</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- FCA Financial Services Register - E-Money Institutions—Financial Conduct Authority (FCA) · register ↗ as at 25 September 2026
- Ownership and group—GLEIF Level 2 relationship records (accounting consolidation), matched by LEI.
- Persons with significant control—Companies House · source ↗ as at 9 October 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
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