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Lebara money transfer review
This mobile company transfers funds from the UK with the ability to lock in future rates.
Updated . What changed?
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.
|Product name||Lebara money transfers|
|Maximum transfer||£3,000 to most countries|
|Transfer methods||UK debit and prepaid cards to bank accounts|
|Transfer options||Spot transfers, forward contracts|
|Delivery speed||1–3 business days|
|Available currencies||EUR, CZK, GHS, HUF, INR, KES, NGN, PKR, LKR, UGX|
|Fees and exchange rates||Transfer 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 options||Phone 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:
- Czech Republic
- San Marino
- Sri Lanka
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.
- 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.
- 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.
Lebara reviews and complaints
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 4.5 out of 5 from Trustpilot, which rates it an excellent servicer based on 3,523 reviews as of October 2020. 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.
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.
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