Lucky Money Inc. International Money Transfers Review

Lucky Money Inc. is a digital money transfer service based in San Francisco. The company is focused on remittances and other transfers between individuals. Since its founding in 1991, Lucky has opened over 90 branches and agent locations in the US.

About Lucky Money Inc.

Most of Lucky Money Inc.’s focus has been on remittances. It’s set up to make it cheaper, faster, and easier to send money from the US to a selection of countries in Asia and the Americas. The company has recently started to focus more on African markets.

While Lucky Money Inc. has a relatively small market share in the money transfer industry, it’s a very active company in the remittance market. So, let’s look at what Lucky offers those seeking remittance transfer services.

IMPORTANT NOTE: Do not confuse Lucky Money Inc. with Lucky Money. The former is the money transfer service we are covering right now. The latter is a digital gaming platform. The two companies are completely unrelated but share similar names.

Lucky Money Inc. Exchange Rates and Fees

Like most money transfer providers, Lucky charges a mix of exchange rate markups and transfer fees. Let’s go over how their rates all add up.

Exchange Rate

Lucky is very transparent about its exchange rates. This is significant because many alternatives will make you sign up and provide payment information before they even provide you quotes for international transactions.

With Lucky, you can start comparing costs immediately. When you go to their exchange rates page, you will see their exchange rates and transfer fees side by side on your screen. This makes it easy to compare rates and trust that you’re getting what they offer you.

So, how do their conversion rates compare? Let’s look at a couple of very common currency conversion examples.


At the time of writing, the mid-market rate for US Dollars to PHP (Philippine Pesos) was PHP 48.55 for USD 1. The Lucky rate was 47.05 PHP per USD 1. That’s an exchange rate margin of 3.090%, which is high in the money transfer industry.

So, if you sent USD 500 to the Philippines, the recipient would receive PHP 23525.00, while the mid-market rate would be PHP 24272.59. This suggests a slightly lower margin of 3.080%. While it’s not a huge drop, most money transfer services do slightly lower their exchange rates as transfers get larger.


At the time of writing, the mid-market rate for US Dollars to INR was 74.23 INR per USD 1. The rate offered by Lucky was 73.50 INR per USD 1. That’s a starting margin of 0.98%, which is slightly lower than average for the money transfer industry.

Transfer Fees

Lucky also charges a transparent and low transfer fee for each transaction. The most common method you will use is a bank transfer. You can also send money with your debit card if you’re sending money to the Philippines.

The bank transfer rate is normally USD 3.99. If you’re sending money to Nepal, it will be USD 4.99.

In any case, Lucky charges very low transfer fees. A quick glance will reveal that they make far more money selling currencies to you at a slightly higher rate than they acquired them for.

Additional Costs

There shouldn’t be any additional costs associated with Lucky Money Inc. transfers. The only case where you would need to pay more would be if the bank rejects your transfer. You will need to contact your bank to inquire about any potential charges for reversed or rejected transfers.

How Do Lucky Transfer Fees Compare to Using a Money Transfer Provider?

This is slightly harder to answer because of the differences in exchange rates. For Nepal and India, the exchange rate margins are all around 1%, which is slightly over average. However, those sending money to the Philippines will face expensive exchange rates that match far more expensive options like PayPal.

With the exception of the Philippines, Lucky offers very good rates for transfers. Transfer fees are very reasonable, especially for large transfers. For transfers to the Philippines, you will have to pay average or slightly more than average.

It’s important to note that the transfer fee doesn’t change based on the transaction’s size. Also, because exchange rates appear to get better as the transfer size goes up, you can expect excellent deals for large transfers.

Lucky Money Inc. Pros and Cons


Exceptional transparency makes it easy to trust Lucky when it comes to rates. It’s exceptionally easy to get a quote and compare the rates they offer. In this regard, Lucky stands out.
Good rates for transfers to Nepal and India, especially for larger transfers. Their flat tranfer fees make them affordable for medium-to-large transfers. If you send only $100, you can expect to pay between 4% and 7% in exchange markups and transfer fees. But if you send $300, the flat exchange rate reduces that cost by more than half.
Many payment options. You can make transfers using bank deposits, credit, or debit cards. Recipients can receive bank transfers, doorstep delivery, Cash pickup, or even withdraw your funds directly at an ATM.


Lack of trust for customer support. The Better Business Bureau gives Lucky a low rating of D-. However, most customers who have made complaints on online platforms have had their problems adequately solved.
Lucky only accepts US Dollars. That means that unless you have USD in your account, the banks will need to exchange your currency, which will take up another small portion of your transfer amount.

Answers to Key Questions About Lucky Money Inc.

Can I Open a Lucky Money Inc. Account in Any Country?

Lucky can be used to send money from most countries. But you can only send money to a handful of countries. They also only accept US Dollars from the sender.

Does Lucky Money Inc. Have an App?

Yes. The app is called “Lucky Money Transfer”, and can be downloaded from Google Play or the App Store.

Again, don’t confuse this app with the “Lucky Money – Feel Great & Make it Rain” app, which is a gaming app from a completely different company.

Are There Transfer Limits?

The Lucky Money website quotes their transfer limits:

  • $2,999 for bank transfers

  • Individual payout limits for other methods vary by country

How Long Do Transfers Take With Lucky Money Inc.?

Bank transfers typically take 3 to 5 business days. Cash pickups are normally much faster and can possibly take under 24 hours.

What Customer Support Options Are Available?

  • Email

  • Toll-free phone

  • SMS

  • Fax

  • Automated chat

  • FAQs section

Can I Use a Lucky Money Inc. Card When Travelling Abroad?

Lucky Money Inc. does not offer its own card.

How to Open an Account and Transfer Money With Lucky Money Inc.

Opening an Account

  • Step 1: Click the blue “Join” button on the Lucky website

  • Step 2: Fill in the required information, which will also require a phone number

  • Step 3: Complete your profile and provide a payment method

Transferring Money

  • Step 1: Go to the “Exchange” page or use the “Quick Send” option in the app

  • Step 2: Create a new recipient or select an existing one (you will need their bank details for bank transfers)

  • Step 3: Select the amount of money you want to send

  • Step 4: Review the transaction details

  • Step 5: Accept, pay and wait for the recipient to receive the funds

Customer Service Details for Users of Lucky Money Inc.


Toll Free: 1-888-826-4427

Can I Use Lucky Money Inc. For International Bank Transfers?

Yes, international bank transfers are one of two options for sending money with Lucky.


Lucky Money Inc. offers fairly standard service for a money transfer provider. However, their transparency and their diverse payment methods make them stand out. While their exchange rates for the Philippine Peso are quite high, the unfortunate truth is that exchanges into PHP are normally the most expensive in the money transfer industry.

If you’re looking for a flexible and affordable money transfer provider for South and Southeast Asia, Lucky is worth a look.

Other Money Transfer Providers

April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.