Lycaremit charges set transfer fees ranging from around £2.50 to £5, depending on the amount you’re sending and the type of transfer (mobile or bank). It also adds a margin to the mid-market exchange rate.
Use our table below to see Lycaremit’s real-time exchange rates and fees.
You can send money to more than 80 countries worldwide with Lycaremit, although the transfer types vary depending on the country. Some of the more popular currencies you can transfer with Lycaremit are:
INR Indian rupee
PKR Pakistani rupee
LKR Sri Lankan rupee
BDT Bangladeshi taka
NGN Nigerian naira
PHP Philippine peso
RON Romanian leu
PLN Polish zloty
What types of transfers can you make with Lycaremit?
You can send money abroad online from a computer, tablet or smartphone or via one of its two London branches.
Recipients can get it through their bank account, by cash pick-up or by using a mobile wallet account.
You can only transfer up to £2,500 each transaction, though.
How long does a transfer with Lycaremit take?
It depends on the type of transfer and where you’re sending the money to, but it should take two working days, or less for some select bank transfers.
Reviews: Scores 4 out of 5 on Trustpilot and rated “Great” based on more than 1,200 reviews*
*According to Lycaremit and Trustpilot on 28 January 2020.
Lycaremit is authorised and regulated by the Financial Conduct Authority (FCA).
How does Lycaremit make money?
As well as the transfer fees of between £2.50 to £5, Lycaremit adds on a small margin to the interbank exchange rate margin to cover costs. This is why the exchange rate you see on Google or XE is different to the one being quoted to you.
How to register an account and make an international money transfer with Lycaremit
Click on “Register” in the top-right hand corner to sign up for a free account. You’ll need to fill in details including your name, address and email.
Fill in the details of who and where you’d like to send money to, and how you want them to receive it.
Enter how much money you want to send.
Enter the details of your debit card to pay for it.
Lycaremit will convert your money to the recipient’s currency and send it to them through the selected pay-out option.
What is Lycaremit?
Lycaremit was established in 2015 by Sri Lankan entrepreneur Allirajah Subaskaran, founder of the Lyca Group, whose other brands include Lycamobile, LycaFly, Lycachat and LycaTV.
It says its aim is to simplify the process of sending money abroad and provide a cost-effective and convenient alternative to traditional money transfer companies and high street agents.
In a nutshell
What makes this company stand out from others?
Flexible pick-up options. Recipients can get money through their bank account, by cash pick-up or by using a mobile wallet account.
Highly rated customer service. Support team available from 8am to 8pm Mondays to Saturdays.
Local support. It has two London branches.
Limited transfers. You can only send up to £2,500.
Limited payment options. You can only pay by debit card.
No live-chat. If you have questions, you’ll need to either call or fill out an online form.
How does Lycaremit compare to other services?
Table: sorted by a combination of service offering and the amount your recipient will receive
The table below shows the fees and exchange rates you can expect from other money transfer specialists compared with Lycaremit. Compare it with the other providers to see if it’s the best option for you.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Frequently asked questions
Email or call the customer services team, or send a message via the website. They’re available between 8am and 8pm from Monday to Saturday.
All records of your transfers will be posted in your online Profile section, which you can access at any time by logging in to your account.
Anna Kierstan is an associate editor at Finder, specialising in money transfers and cryptocurrency. She has more than 15 years’ experience in publishing and journalism, working as an editor for brands including HSBC, Which?, NFU Mutual, Weight Watchers and AXA. She has a first-class degree in Linguistics and Philosophy from University College London and Masters degrees in Journalism and Translation. She likes to collect art and animals.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.