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The money transfer service leveraged the existing Lebara mobile platform, a service built to help migrants make affordable international phone calls. As a group, Lebara has over 1,000 employees and serves more than 5 million customers. On 15th October 2016, the company launched its Lebara Money service - targeting a growing UK migrant population who regularly send money abroad.
On 10th April 2018, Lebara Money entered a partnership with WorldRemit to expand its sending and disbursing network and further guaranteeing its customers fast and cheap money transfer services. The agreement saw WorldRemit become the official money transfer partner receiving over 3 million Lebara Money and Lebara Mobile customers.
Lebara Money Exchange Rates and Fees
Like with most international money transfer services, your transfer destination, the type of transfer and how you pay for it, will determine the exchange rate margins with Lebara Money. On the WorldRemit website, there is a calculator you can use to determine your transfer cost. Here’s an outline of what to expect:
Exchange Rates
The provider charges a small margin on top of the mid-market rate in order to generate revenue for Lebara and World Remit. For instance, when sending money from the United Kingdom to France or Spain, you’ll be charged a margin of 1.16% above the mid-market rate, and when transferring from the UK to the US this figure rises to 1.2%.
Fees
Lebara Money, through WorldRemit’s platform, has one of the most affordable fee structures starting from £2.99. However, this varies based on the payout method you select for your transfer. For instance, when sending money from the United Kingdom to Kenya, you’ll be charged the following fees:
Mobile money transfer: £0.99
Bank deposit: Between £0.99 and £2.99
Cash pickup: Between £0.99 and £2.99
Additional Costs
Most of the bank transfers with Lebara Money are paid through the SWIFT network. This may attract an additional fee of about from £5 depending on the country and bank. Also, if you pay using a credit card, you may be charged a cash advance fee. Neither Lebara Money nor WorldRemit control these potential fees, so it’s important to check with your bank or card provider.
Lebara Money Pros and Cons
Partnering with WorldRemit has opened many possibilities for Lebara’s customers. Here are some of the pros and cons of using Lebara Money to transfer funds abroad:
- Wide network coverage – You can now send money to 150 countries and territories around the world.
- A wide range of payout options – The provider supports a variety of payout methods including direct bank deposit, mobile money transfer, cash pickup, and door to door delivery in countries like Vietnam. You can also top up your recipient’s mobile phone with airtime.
- Flexible transfer payment options – You can pay for your transfer using a debit card, credit card, or bank transfer.
- Low fees and affordable rates – You can transfer money for a fee of as low as £0.99 and average exchange rate margins of about 1% - 2%.
- Mobile app – You can transfer money on the go, track your transfers, and check exchange rates using their app available as a free download on Play Store and App Store.
- Transfer limits – Depending on your transfer destination, you may only be able to transfer limited amounts. For instance, when sending money from the UK to Cambodia, the maximum you can transfer is £804.
- No live chat support – You can only reach the provider on phone and email. There is no live chat support yet.
- Limited sending network – While the disbursing network is a big plus for the provider, you can only send money from 59 countries most of which are in Asia and Europe.
What Kind of Payments Can I Make With Lebara Money?
The provider offers a variety of ways you can pay for your transfer, and several options for your recipient to get the funds. Here’s a summary of the kinds of payments you can make.
Payment Methods Available
You can pay for your transfer using any of the following methods:
Bank Transfer: If you are in Hong Kong, Japan, Singapore, Somaliland, UK or South Africa you can use this option to pay for your transfer.
Debit/credit Card: Lebara money accepts Visa, Mastercard and Maestro branded cards.
Poli: This option is available to customers in Australia and New Zealand
Interac: If you are in Canada you can use Interac e-Transfer to pay for your transfer.
iDEAL: this payment method is available to customers in the Netherlands.
Klarna: Customers in Austria, Belgium, Germany and the UK can make online payments for their transfers using this method - formerly known as Sofort.
Google Pay: If your Google Pay account is linked with a card, you can use it to pay for your transfer
Apple Pay: This method is currently available to customers in Australia, Canada, Denmark, Finland, France, Hong Kong, Ireland, Italy, Singapore, Spain, Sweden, Switzerland, Taiwan, UAE, the UK, and the USA.
Trustly: You can use this payment method if you are in Denmark, Estonia, Finland, Italy, Norway, Poland, Spain, or Sweden.
Withdrawal options available
The recipient can pick up funds sent through Lebara Money using any of the following methods. However, this will depend on the country they are in, so be sure to check the options available when making your transfer.
Bank Transfer: The funds are deposited directly into the recipient’s account. It may take 1-3 days for the transfer to be completed.
Cash Pickup: Funds are sent to a physical cash collection point where your recipient can go and pick up their money. Lebara Money has over 170,000 cash pickup locations worldwide.
Mobile Money Transfer: If your transfer destination supports this payment option, you can send money directly to your recipient’s mobile money account.
Door to Door Delivery: Recipients in Vietnam can have their funds delivered at their doorstep. Transfer delivery times depend on the location of the recipient.
Airtime Top-up: You can top up your recipient prepaid mobile phone account with airtime
Does Lebara Money Have a Mobile App?
Lebara Money has an app available on the Play Store and App Store. You can send money on the go, check exchange rates and track transfers.
How Fast Are Lebara Money’s Transfer Speeds?
It takes between 1 and 3 days for your money to arrive when using Lebara Money. Cash pickups and mobile money transfers are instant while bank transfers and door to door deliveries take the most time.
Are There Maximum and Minimum Transfer Amounts?
The provider has limits based on your transfer destination, your host country, the transfer payout option and the transaction limits imposed by the local partner. For instance, sending money to the Philippines is subject to the following limits:
Cash Pickup: The limit is £7,983.02
Bank Deposit: The limit is £50,000.00
If you are sending from the United States, the maximum on both cash pickup and bank deposit is $5,000.
Can I Trust Lebara Money?
Yes, you can trust Lebara Money. As a company, Lebara has been operating across Europe since 2001 and has made a name for itself in terms of providing affordable mobile contracts for people calling relatives abroad. Partnering with WorldRemit in 2018 has enabled them to provide a similar level of reliable service in the money transfer space. To reassure any concerns, we’ll take you briefly through Lebara’s history and key information.
History and Key Information
Lebara Money was incorporated in August 2015 as a private limited liability company under company number 09753115. It began operations in 2016 and joined forces with WorldRemit in 2018, bringing onboard more than 3 million customers.
The provider is authorised and regulated by the Financial Conduct Authority (FCA). In terms of the safety of customer information, Lebara Money has Norton-certified technology and uses two-factor authentication (2FA).
All fees and exchange rates are displayed in a transparent manner upfront on the transfer widget, and at the Moneynet Awards 2017, the company was named the Best New Money Transfer Provider under the ‘Travel Money’ category.
Customer Satisfaction
On Trustpilot, Lebara Money has a score of 4.8/5. Customers who’ve used the provider before and those who now use the joint platform with WorldRemit had the following reactions to the service they received:
- Reliable money transfer platform
- Simple to use and delivers transfers fast
- Offers a great exchange rate
- Low transfer limits
Can I Cancel My Transfer?
Yes, you can cancel your transfer by contacting WorldRemit customer support. However, you will not be able to recall a transfer once it has been collected, so you have to act quickly. If the cancellation is successful, it takes between 2-6 days for you to get your refund.
Top Destinations for Using Lebara Money
With the expanded disbursing network, you can send money to over 150 countries. The following are the most popular destinations with Lebara Money.
Customer Support
Customer support from Lebara Money is run through WorldRemit’s platform and is available 24/7 through the following channels:
Telephone: There are contact centres in every region that you can call. Alternatively, you can get in touch with any of the provider’s regional offices through toll numbers.
Email: You can email customerservice@worldremit.com for support.
There is also a detailed FAQ section on the website with answers to all of the most common queries the company receives in relation to its money transfer operations.
Summary
Lebara Money’s partnership with WorldRemit has brought immense benefits to its customers in the UK, Denmark, Spain, the Netherlands, France and Germany - along with many other countries that can access the service. They can now access an expansive payout network that is safe, fast, and low cost.
Sending and receiving money is now simplified thanks to a dynamic platform that supports a wide range of transfer payment and payout options. Your recipient can get money within minutes to help them out with their immediate needs, and in certain countries can even get cash delivered to their doorstep.
With that being said, it is recommended that you compare Lebara Money with other providers before making your transfer. Our money transfer comparison tool can help you do a quick analysis of alternatives that would suit your transfer needs better. The provider has always featured on our recommended list for customers making transfers from Europe, but it’s always helpful to know your options to make sure you’re getting the best deal.
