Lebara money transfer review November 2018 | finder.com
Lebara money transfer

Lebara money transfer review November 2018

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This mobile company transfers funds from the UK with the ability to lock in future rates.

Not available for US customers

Unfortunately, Lebara does not offer money transfers to customers in the US, restricting its services to UK customers only. Compare money transfers specialists like Lebara to find one that works for your needs.

Every day, more online upstarts are getting in on the international money transfer game. Lebara is one of them, offering a cheap, fast solution to sending money home to loved ones in nearly 30 countries.

But you’ll need to be a resident of the UK to use Lebara, among other potential drawbacks. Here’s what to know about rates, fees, minimums and more for this newer online money specialist.

Details

Product nameLebara money transfers
Minimum transfer£10
Maximum transfer£3,000 to most countries
Transfer methodsUK debit and prepaid cards to bank accounts
Transfer optionsSpot transfers, forward contracts
Delivery speed1–3 business days
Available currenciesEUR, CZK, GHS, HUF, INR, KES, NGN, PKR, LKR, UGX
Fees and exchange ratesTransfer fee. Varies by destination country and delivery
Fees by cash ranges. Percentage of transfer amount that varies by transaction
Exchange rates. Updates daily online
Customer service optionsPhone and email

How are Lebara’s exchange rates?

Lebara advertises its daily exchange rates on its homepage without requiring registration. Rates are typically stronger than banks and competitive with other online specialists.

For future savings, you can lock in a rate for up to 30 days. But if you choose a spot transfer, you could see a rate change before you finalize your transaction.

How much will I pay to send money with Lebara?

Lebara charges a fee that’s equal to a fixed percentage of your transfer amount with a minimum of £2. The hitch is that percentages vary by your destination country and preferred delivery speed, which makes it hard to nail down what you’ll pay before you set up a transfer.

Here’s an idea of what you’ll pay by country with Lebara:

  • European countries — 0.4%
  • India or Africa — 0.5%
  • Bangladesh — 0.6%
  • Sri Lanka — 0.65%
  • Pakistan — 0.8%

Using these rates, you can expect to pay a £5 fee on a transfer of £1,000 to India. Increase your transfer amount to £4,000, and the fee rises to £20.

Locking in a low rate for future transactions results in a slightly higher fee, but new customers might be able to find fee-free promos on their first transfer.

Minimum transfer amounts and available countries

To take advantage of Lebara’s fast, cheap transfers, you’ll need to send at least £10.

Transfers from the UK support the following countries:

  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Czech Republic
  • Estonia
  • Finland
  • Ghana
  • Hungary
  • Iceland
  • India
  • Ireland
  • Italy
  • Kenya
  • Latvia
  • Liechtenstein
  • Lithuania
  • Nigeria
  • Pakistan
  • Romania
  • San Marino
  • Slovakia
  • Slovenia
  • Spain
  • Sri Lanka
  • Switzerland
  • Uganda

Note that specific country and currency combinations might limit your options.

What types of transfers does Lebara support?

Lebara offers its UK customers two types of transfers:

  • Spot transfers. Send money on the same day at advertised exchange rates.
  • Forward contracts. Lock in the day’s exchange rate to send money within 30 days. Any balance remaining for your account is deducted from your bank card.

How do I send money through Lebara?

1.Register with Lebara. Lebara verifies your identification before allowing you to set up a transfer.
2.Initiate a transfer. Choose how much you’re sending and when you’d like to complete it. You’ll see all fees before finalizing your transaction.
3.Add your recipient’s details. Include their name and bank account details, saving the info to your account for future transactions, if you wish.
4.Pay for your transfer. Lebara accepts debit and prepaid cards issued in the UK.
5.Review and confirm. Look over all details and submit.

How do I track my Lebara transfer?

Track the progress of your transfer online, through Lebara’s app or over the phone. You’ll see confirmation on Lebara’s site and receive a confirmation email of successful delivery.

What to look out for

This one’s a biggie: If you don’t live in the US, you’re not able to take advantage of Lebara’s services. At the time of writing, Lebara accepts payment through UK-based prepaid and debit cards only.

Pros

  • Multiple fee-free promos.New customers can nearly always find a code that allows for your first transfer at no fee.
  • Lock in low rates.If you find an appealing rate, nail it down for a future transfer within 30 days.
  • Fast turnaround.Most transfers are delivered within three business days.
  • Send to mobile wallets.Though limited to specific countries, Lebara supports mobile deliveries to Kenya, Ghana and Uganda.

Cons

  • Not available to US residents.Lebara supports transfers from the UK only.
  • Accepts UK-based cards only.And payment is further limited to debit or prepaid cards.
  • Low maximums to most countries.Transfers can come with £3,000 caps, which might not cover your needs.

How safe is Lebara?

Lebara is a safe company that’s regulated as a payment institution by the UK’s Financial Conduct Authority. It segregates bank accounts that hold its customers’ funds and relies on Verified by Visa and Mastercard SecureCode services to process its payments.

It further claims to work with only reputable institutions and banks to get your money to its destination without a hitch.

What does the Internet say about Lebara?

The online world is largely impressed by Lebara’s transfer services, whether pleased about exchange rates, fees, turnaround times or customer service.

It earns a TrustScore of 9.6 out of 10 from Trustpilot, which rates it an excellent servicer based on 2,276 reviews at the time of writing. Further, more than 80% of Trustpilot’s users say Lebara’s services are excellent.

The few poor reviews you’ll find refer to transfer limits to specific countries — a low £400 to Sri Lanka, for instance — and poor customer support when resolving issues. But nearly all negative reviews are followed up by a Lebara rep, which is a good sign of solid service.

More about Lebara

A virtual telecommunications company, Lebara’s been around since 2001, offering pay-as-you-go mobile plans and SIM cards internationally. In 2016, it branched out its services to become a money transfer specialist, advertising cheap transactions from the UK to more than 25 countries.

Bottom line

If you live in the UK, Lebara can help with quick, cheap money transfer services to more than 25 countries.

But until it’s regulated to support transactions from the US, compare the top online money transfer specialists to find a provider that works for your needs.

See how other services compare to Lebara money transfer

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer partners.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days - - Save your business time and money with XE. Go to site Show details
$1 3 - 5 days USD 1.00 20.388 MXN 101,922 Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
$2,000 3 - 5 days USD 0.00 20.319 MXN 101,596 No-limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 20.227 MXN 101,137 Increase business efficiency with zero transaction fees and same-day transfers. Go to site Show details

Compare up to 4 providers

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days USD 0.00 20.217 MXN 101,086 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 20.207 MXN 101,035 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
USD 1 Within an hour USD 3.99 20.207 MXN 100,954 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
USD 1 3 - 5 days USD 75.00 20.391 MXN
100,423
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 20.187 MXN 100,933 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

Compare up to 4 providers

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Frequently asked questions

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

No maximum limit, no fees and competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

No maximum limit, no fees and competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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