- Good for sending secure transfers to exotic locations.
- Not so good if you want to send larger amounts (maximum transfer is £2,500).
Lycaremit exchange rates and fees
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.
Available currencies
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
- CNY Chinese yuan
- 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.
What payment methods does Lycaremit accept?
You can only pay by debit card.
Transfers typically take
2 working days
Is Lycaremit safe to use?
- Security & regulation: FCA-regulated, industry-standard RSA 256-bit encryption
- Established: 2015
- Reviews: Scores 4 out of 5 on Trustpilot and rated “Great” based on more than 1,200 reviews*
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
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?
Pros:
- 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.
Cons:
- 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 promoted deals first
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
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