---
title: "Cobanq LTD SWIFT/BIC code ZMEXGB22XXX · United Kingdom | Elucidate"
description: "Licensed in the United Kingdom: Authorised Payment Institution (FCA). SWIFT/BIC code ZMEXGB22XXX for Cobanq LTD, United Kingdom. Head-office BIC."
url: https://elucidate.co/directory/cobanq-ltd-zmexgb22
---
1. [Directory](https://elucidate.co/directory)
2. [United Kingdom](https://elucidate.co/directory/country/gb)
3. Cobanq LTD
United Kingdom · Payments & e-money
# Cobanq LTD
CoBanq Ltd is a private limited company registered in England and Wales, with its registered office at One Canada Square, Canary Wharf, London. The FCA authorises it as an authorised payment institution under reference 508565. Ahmad Shah is its person with significant control, holding 75% or more of the shares. The firm offers international money transfers to consumers under the Burq FX name, and multi-currency business accounts, FX and mass payments under the CoBanq name. It was incorporated in 2003 as Zak Money Exchange Limited and renamed CoBanq Ltd in January 2026.
Register status
Licensed in the United Kingdom
Authorised Payment Institution · FCA
Prudential licence
[1 licence or registration ↓](https://elucidate.co/directory/cobanq-ltd-zmexgb22#licences)
BIC **ZMEXGB22XXX** LEI **[98450097AFD59F7F5662](https://search.gleif.org/#/record/98450097AFD59F7F5662)** [Licence no. **508565**](https://elucidate.co/directory/cobanq-ltd-zmexgb22#licences) Reverse billing Head-office BIC only [Claim this profile](https://elucidate.co/directory/cobanq-ltd-zmexgb22#claim)
## Licences and registrations
Held by Cobanq LTD (LEI 98450097AFD59F7F5662). 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 - Payment Institutions & RAISPs](https://elucidate.co/directory/register/fca-psd) FCA Linked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised Payment InstitutionPayment Institution | 508565 | [United Kingdom](https://elucidate.co/directory/country/gb) | Active | 2018-05-24 | — | - Payment services | [Search the register ↗](https://register.fca.org.uk/s/) |
Trading names on the register: Speedy Remit (FCA-PSD), CoRemit (FCA-PSD), CoBanq (FCA-PSD)
- 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.
### Other register entries with this LEI
Shown for reference: they share the LEI but are not merged into this page
- [Zak Money Exchange LTD · trading as CoBanq No BIC Money service business AML registration only United Kingdom · Registered with HMRC · XMML00000119686 (HMRC-MLR) · also on FCA-PSD · LEI 98450097AFD59F7F5662 (also mapped to a BIC) LEI matched by Elucidate to GLEIF on name and country only. Not merged: the register name differs from the name on this BIC.](https://elucidate.co/directory/zak-money-exchange-ltd-ee66fac2aa73)
## Swift network
Swift’s ISO 9362 BIC directory
- **BIC:** ZMEXGB22XXX head office
- **Connection to Swift:** 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:** 2025-11-01
- **Last updated:** 2026-02-09
## Overview
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cobanq-ltd-zmexgb22#overview-sources)
Customers
Not published
Employees
6
headcount · This entity · 31 Mar 2025 · [regulatory filing ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/filing-history/MzQ5Mjg5MDc4NWFkaXF6a2N4/document?format=pdf&download=0)
Ownership
Privately held
Firm type
Money remittance
Trades as CoBanq
- **Standing:** The firm changed its name from Zak Money Exchange Limited to CoBanq Ltd on 16 January 2026. It has also traded as Burq FX.
- **Ownership:** Ahmad Shah, a director, is the sole registered person with significant control, holding 75% or more of the shares and voting rights.
- **Major shareholder:** Ahmad Shah
- **Head office:** Level39, One Canada Square, Canary Wharf, E14 5AB London, United Kingdom
- **Company register:** Companies House 04995400
- **Incorporated:** 15 Dec 2003
- **Former name:** ZAK MONEY EXCHANGE LIMITED
### Online
- **Websites & references:** [cobanq.com ↗](https://cobanq.com/) [burqfx.com ↗](https://burqfx.com/) Burq FX trading-name site (money transfers and business accounts) [business.cobanq.com ↗](https://business.cobanq.com/) business account sign-up portal [zakmoneyexchange.com ↗](https://www.zakmoneyexchange.com/) former domain, now showing Burq FX content
- **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/burqfx/) · [X ↗](https://twitter.com/burqfx) · [Facebook ↗](https://www.facebook.com/burqfx) · [Instagram ↗](https://www.instagram.com/burqfx/)
Sources · 12 pages consulted
1. [find-and-update.company-information.service.gov.uk/company/04995400](https://find-and-update.company-information.service.gov.uk/company/04995400)
2. [find-and-update.company-information.service.gov.uk/company/04995400/officers](https://find-and-update.company-information.service.gov.uk/company/04995400/officers)
3. [find-and-update.company-information.service.gov.uk/company/04995400/persons-with-significant-control](https://find-and-update.company-information.service.gov.uk/company/04995400/persons-with-significant-control)
4. [find-and-update.company-information.service.gov.uk/company/04995400/filing-history](https://find-and-update.company-information.service.gov.uk/company/04995400/filing-history)
5. [find-and-update.company-information.service.gov.uk/company/04995400/filing-history/MzQ5Mjg5MDc4NWFkaXF6a2N4/document?format=pdf&download=0](https://find-and-update.company-information.service.gov.uk/company/04995400/filing-history/MzQ5Mjg5MDc4NWFkaXF6a2N4/document?format=pdf&download=0)
6. [register.fca.org.uk/servlet/servlet.FileDownload?file=015b0000006CXC7](https://register.fca.org.uk/servlet/servlet.FileDownload?file=015b0000006CXC7)
7. [cobanq.com/](https://cobanq.com/)
8. [burqfx.com/](https://burqfx.com/)
9. [burqfx.com/terms\_conditions](https://burqfx.com/terms_conditions)
10. [burqfx.com/aboutus](https://burqfx.com/aboutus)
11. [apps.apple.com/gb/app/burq-fx/id6752525825](https://apps.apple.com/gb/app/burq-fx/id6752525825)
12. [play.google.com/store/apps/details?id=com.khan.burqfx](https://play.google.com/store/apps/details?id=com.khan.burqfx)
## Authorisation
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cobanq-ltd-zmexgb22#overview-sources)
- **Operates under:** Its own licences
The FCA authorises the firm as an authorised payment institution under the Payment Services Regulations, reference 508565, on the register since 24 May 2018.
| Authority | Licence or registration | Number | Held | Status | Source |
| --- | --- | --- | --- | --- | --- |
| Financial Conduct Authority United Kingdom | Authorised Payment Institution | 508565 | In its own name | Active | [burqfx.com ↗](https://burqfx.com/terms_conditions) |
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.
## Products and markets
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cobanq-ltd-zmexgb22#overview-sources)
- International money transfer
- Cash pick-up
- Multi currency accounts
- Payouts and mass payments
- FX conversion
The firm's terms describe online and app-based money transfers paid out to bank accounts or in cash through partners. It says its business accounts hold up to 46 currencies and its mass payments cover 73 currencies. Its terms do not list the corridors it serves.
The firm serves senders from the United Kingdom under its FCA authorisation. It does not publish a list of receiving countries.
- **Sells to:** Consumers · Small businesses · Enterprises
- **Serves customers in:** United Kingdom
## Leadership
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cobanq-ltd-zmexgb22#overview-sources)
- **Executive:** Ahmad Shah Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/officers)
- **Executive:** Sheroz Nadeem Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/officers)
## Recent events
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cobanq-ltd-zmexgb22#overview-sources)
1. Aug 2026
Other
The firm moved its registered office to Level39, One Canada Square, Canary Wharf, London.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/filing-history)
2. Jan 2026
Other
The firm changed its name from Zak Money Exchange Limited to CoBanq Ltd.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400)
3. Apr 2025
Leadership
Syed Wajhe-Ul-Hassan resigned as director and ceased to be a person with significant control. Ahmad Shah remained the sole controller.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/persons-with-significant-control)
4. Apr 2025
Other
The firm moved its registered office from 70 Ilford Lane, Ilford to One Canada Square, Canary Wharf, London.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/filing-history)
5. Feb 2025
Leadership
Ahmad Shah and Sheroz Nadeem were appointed directors, and Khuram Shahzad resigned as director.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/officers)
6. Jan 2025
Merger / acquisition
Ahmad Shah was registered as a person with significant control of the firm from 16 January 2025.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/04995400/persons-with-significant-control)
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:** ZMEXGB22XXX
- **How the BIC breaks down:** 1. ZMEX Bank 2. GB Country · United Kingdom 3. 22 Location · reverse billing 4. XXX Branch · head office
- **Branch description:** Not recorded in the directory
- **LEI:** 98450097AFD59F7F5662
- **LEI record:** [View on GLEIF ↗](https://search.gleif.org/#/record/98450097AFD59F7F5662)
- **Licence no. · FCA-PSD:** 508565
- **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:** 32cc3fc575ec
## Profile
- **Type:** Payments & e-money
- **Regulation:** Prudential licence
- **Register licences:** [1 entry on 1 register](https://elucidate.co/directory/cobanq-ltd-zmexgb22#licences)
- **Activities:** - Payment services
- **Licensed in:** [United Kingdom](https://elucidate.co/directory/country/gb)
- **Website (register):** [www.cobanq.com ↗](https://www.cobanq.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
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
## Addresses
- **Registered address:** ONE CANADA SQUARE, 37TH FLOOR CANARY WHARF LONDON E14 5AA UNITED KINGDOM
- **Operational address:** ONE CANADA SQUARE, 37TH FLOOR CANARY WHARF LONDON LONDON E14 5AA 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
```xml
ZMEXGB22XXX
98450097AFD59F7F5662
```
### 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
```xml
ZMEXGB22XXX
98450097AFD59F7F5662
COBANQ LTD
LONDON
GB
ONE CANADA SQUARE, 37TH FLOOR CANARY WHARF LONDON E14 5AA
```
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.
## Related institutions
### Other payments & e-money institutions in the United Kingdom
- [Stonex Financial LTD BIC IGLUGB2L Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 446717 (FCA-PSD) · also on FINTRAC-MSB · LEI 549300AWF3TOHRYL7754](https://elucidate.co/directory/stonex-financial-ltd-iglugb2l)
- [Dex International Limited · trading as DEXREMIT No BIC Payments & e-money Crypto Money service business Prudential licence United Kingdom · Licensed by FCA · 503929 (FCA-PSD) · also on HMRC-MLR, FINTRAC-MSB · LEI 9845003995D06S994R04](https://elucidate.co/directory/dex-international-limited-ff2b0c01c725)
- [Euronet Payment Services Ltd · trading as Ria Money Transfer, Ria No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 504630 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/euronet-payment-services-ltd-6f4dec33a392)
- [Instinet Europe Limited BIC ISNTGB2L Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 140822 (FCA-PSD) · LEI 213800MXAKR2LA1VBM44](https://elucidate.co/directory/instinet-europe-limited-isntgb2l)
- [Isx Financial UK LTD BIC ISFIGB22 Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 901034 (FCA-EMI) · LEI 2138007BDV9IRS8AYD07](https://elucidate.co/directory/isx-financial-uk-ltd-isfigb22)
- [Western Union Payment Services GB Limited · trading as Manning House, WU No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 816890 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/western-union-payment-services-gb-limited-0741de977896)
- [A to Z 4U Ltd · trading as SAAK REMIT, Saakpay No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 570837 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/a-to-z-4u-ltd-25c2ca0fa3b5)
- [Allied Wallet Limited No BIC Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 900124 (FCA-EMI) · also on FCA-PSD · LEI 213800HO66BDXP716G24](https://elucidate.co/directory/allied-wallet-limited-8983cc2e32eb)
[See all →](https://elucidate.co/directory/search?type=payments&cc=GB)
Claim this profile
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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 →](https://elucidate.co/directory/methodology)
Credits for this page
- **FCA Financial Services Register - Payment Institutions & RAISPs**—Financial Conduct Authority (FCA) · [register ↗](https://register.fca.org.uk/s/) as at 25 September 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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Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.