Lebara Money - Independent review

All you need to know before sending money with Lebara Money

Simple, easy-to-use online service. “Lock in” favorable exchange rates for up to 30 days. Fast transfers with easy payments via debit card.



Lebara Money review by Monito

Lebara Money Transfer is a UK-based money transfer service that provides simple, easy-to-use money transfers through its website. Lebara Money Transfer is operated by the Lebara Group — a large, international telecommunications business.

One of the main advantages of Lebara is the ability to “lock in” an exchange rate today and then pay for and transfer the money within 30 days. For example, if you were transferring £GBP to €EURO and saw an exchange rate of 1.172 today on 3 April, you could lock that in until 2 May, regardless of whether the exchange rate rose or fell between now and then. Another big advantage of this approach is that you only get charged by Lebara when you make the transfer, so it’s easier to budget.

While this facility (called a “forward contract”) is available from other specialized currency exchange providers for larger amounts, Lebara makes it very easy to do for any amount of money. You can easily complete these “lock in” / forward contract currency exchanges using their online platform. Lebara does charge a small fee for this service, but if you want peace-of-mind and you’re sending larger amounts, that can be worth it.

Lebara Money Transfer fees and exchange rates are competitive with many of the other large money transfer providers. However, you should be aware that they do charge a minimum fee when transferring smaller amounts, which might make them less competitive. You can get around this by transferring amounts large enough to avoid the minimum fee. Note that Lebara Money Transfer are currently offering zero fees on all “now” transfers (i.e. not a future transfer with a locked in exchange rate) to every country except India.

Lebara currently only allows UK residents to send money using their services — although they don’t support as many destination countries as other providers, their network is growing all the time. Recipients can receive their money through their local bank account, or in some cases, a mobile wallet.


PROS
  • You can “lock in” exchange rates for up to 30 days for a low fee.
  • Transfers are normally completed in 1 to 3 business days.
  • Their online money transfer service is simple and easy to use.
CONS
  • You need to be 18 or over, have a UK bank account, and live in the UK.
  • If you’re sending smaller amounts, Lebara does have a minimum fee (which is currently waived for “now” transfers to every country except India)
  • You can only fund your account with a UK debit card or prepaid card.
  • You can only send money to the recipient's bank account or, in some cases, a “mobile wallet.”

 

Reviews powered by

80 customer reviews on Lebara Money on Trustpilot


17 hours ago
by Pulak

5 stars

Hassle free transaction

Hassle free transaction. Though the rate is kept low as compared to others, but given discount and offers balances it to some extent.

1 day ago
by krishnaraj

5 stars

Good service.

Good service so far..

1 day ago
by Mandeep Singh

5 stars

Very very good app

Very very good app


More reviews

1 day ago
by Olajide Olajiire

5 stars

Fantastic service

Fantastic service - the transfers are as quick as possible and there has been no extra burdensome charges. Great work.

1 day ago
by Yemi Akintunde

5 stars

Very easy and quick delivery.

Very easy and quick delivery.

1 day ago
by Imran Abbasi

5 stars

Excellent service

Excellent service; quick, efficient, and reliable money transfer.

2 days ago
by Aneela Tahir

5 stars

Excellent

Excellent, one word to describe

2 days ago
by Abhijit Bansode

5 stars

Best app for money transfer

Best app for money transfer. Attractive exchange rates, quick delivery and simple to make payment.

4 days ago
by Noor Ahmad

5 stars

Very good and easy to use

Very good and easy to use

5 days ago
by Bartek Chalas

5 stars

Takes time sometimes but..

Takes time sometimes but... they have good rate and no fees

5 days ago
by Ignatius Swaageen

5 stars

Very good service

Very good service, easy peasy.long may continue.

6 days ago
by Mahendran Pichamuthu

5 stars

Easy to use and good exchange rate

Easy to use and good exchange rate

6 days ago
by Jerry Fernandes

5 stars

Good service

Very easy m good service. Trustable

1 week ago
by GAURAV BHATNAGAR

5 stars

Excellent rate and service

Excellent rate and service

1 week ago
by Xavier Elias Dourado

5 stars

Very convenient

Very convenient

08/07/2017
by Jahangir Alam

5 stars

Excellent service; Best Rate

My first transfer didn't go through. But Lebara refunded the funds within 2 days. I said I will give them a second chance. This time the remittance...Read more

My first transfer didn't go through. But Lebara refunded the funds within 2 days. I said I will give them a second chance. This time the remittance reached my beneficiary's account as stated in the receipt. Thank you Lebara.

08/01/2017
by Allan Catherwood

5 stars

Fast efficient service and good rates …

Fast efficient service and good rates quoted.Will use again.

07/26/2017
by Mohan Karunanithi

5 stars

Better money transfer service with …

Better money transfer service with faster delivery.

07/26/2017
by k kubis

5 stars

Easy,quick and secure!The best rate!Perfect to exchange …

Easy,quick and secure!The best rate!Perfect to exchange currency!

07/19/2017
by Jahangir Alam

4 stars

You can trust Lebara Money; they will keep your money SAFE

Despite some negative reviews I wanted to give it a go with a generous sum of £3k. Unfortunately the transaction was unsuccessful with no faults of...Read more

Despite some negative reviews I wanted to give it a go with a generous sum of £3k. Unfortunately the transaction was unsuccessful with no faults of Lebara Money, because their remittance partner said that my beneficiary's bank account details are incorrect. This isn't true, because I have previously used the same bank details with Orbit, and the transaction was successful. Also used the same bank details with my high Street remittance agencies without any problem. However, I have to be fair in giving my review on Lebara Money. Although Lebara Money need to sort out whatever issues they have with their remittance partner in Bangladesh, Lebara Money was very efficient in sending the full refund to my bank account. So they are definitely scoring very high on this point as a trustworthy remittance agency. I am writing this feedback for the management to make them aware that there are lots of good opportunities for Lebara Money in sending remittance to Bangladesh. People do not want to make a trip to their local agencies if they can send money to their loved ones at the comfort of their home. So Lebara Management should try to build on customers' confidence in using their services. You can only achieve this if your customers can use your services without worrying being mugged. I hope you take this point onboard. I will try again to send money.

07/12/2017
by Q One

5 stars

Awesome app!

Awesome app!

07/12/2017
by Q One

5 stars

Very cool service

Very cool service

07/12/2017
by Q One

5 stars

Good remittance service

Good remittance service

07/08/2017
by Allan Catherwood

4 stars

No problems so far.First transfer went …

No problems so far.First transfer went through quickly and second one in pipeline.Lebara have a useful rate alert email system which lets you know when...Read more

No problems so far.First transfer went through quickly and second one in pipeline.Lebara have a useful rate alert email system which lets you know when your target rate is available.

07/01/2017
by Naveen Yadav

2 stars

Pathetic customer service.

Rates are Ok. not best among all. Customer service is pathetic. I am unable to login to my account for last one month and Customer care reply on mail...Read more

Rates are Ok. not best among all. Customer service is pathetic. I am unable to login to my account for last one month and Customer care reply on mail saying wait for update on this problem. i have received many of such kinda e-mail. Not upto mark service.

06/08/2017
by Daniel Tan

5 stars

Best Rate and Excellent Usability.

Best Rate, Excellent usability. One of the best in the market for Money Transfer.

06/05/2017
by Joginder Sidhu

1 stars

Stay away from Lebara mobile

Stay away from Lebara mobile, lebara TV Box, Money Transefer, I have lost my money with LebaraPlay Hindi TV Films £125 Please Please Run away if see...Read more

Stay away from Lebara mobile, lebara TV Box, Money Transefer, I have lost my money with LebaraPlay Hindi TV Films £125 Please Please Run away if see Lebara offers From me not even ONE STAR Thank you

05/29/2017
by Mahmud Hasan

1 stars

Inefficient

Made me wait 7 days with no success. Very disappointed.

05/23/2017
by Robert Grant

1 stars

Issues with the old Lebara money system

I used Lebara money when it was a dual mastercard system. They changed there website and business model completely. No warning. No Email. Nothing. First...Read more

I used Lebara money when it was a dual mastercard system. They changed there website and business model completely. No warning. No Email. Nothing. First I find out is when I want to send money abroad. I sent money to my card from my bank ( £125 ) then went to log in an tranfer it to the other card. Completely new website. business model. no legacy login or help for redundant customers. I then go to bank. Card has been cancelled. Phoned lebara money and told I have to email some address... from which i get one sentence emails. Then an email saying the money is being refunded to by bank account. It doesnt happen. I write again... no reply

05/20/2017
by Mahmud Hasan

1 stars

Used Twice, Very Shady

When I sent money first time, everything was OK, then the second time they blocked my account without any warning, the App prompted me to call my card...Read more

When I sent money first time, everything was OK, then the second time they blocked my account without any warning, the App prompted me to call my card provider. Both card I tried were all good. Rang Lebara customer service, they said the reason was security concerns. They said they are trying to protect my account. And I don't see the logic behind it. I tried my own cards. One person can have different debit card. Apparently if you use different debit card system declines card automatically. My complain is the lack of transparency, first of all don't prompt customers to go to their bank while fault is in your system. Second of all if you are soo concerned about my security then inform me somehow, you have my email and contact number. That's not all, they are not manually unlock your account by overriding the system. A company that handles the whole process this inefficient way tells a lot about its security weaknesses. So don't bother trying Lebara money. Inefficient service and you will either risk your hard earned money. Also you might end up being in a riddle and worry about where your money went. Read all the reviews how inefficient they were with certain people and played with other people's money.


Lebara received an overall rating of 7.9 out of ten on Trustpilot, across over 40 reviews. 70% of reviews rated Lebara Money Transfer at four or five stars, while 28% of reviews rated them at one or two stars. The disproportionate share of negative reviews is probably explained by the low number of reviews, and we expect Trustpilot reviews of Lebara Money Transfer to improve over time.

Among the positive reviews, customers praised good exchange rates, low fees, and rapid transfers. One reviewer said, “I have used many different money transfer services online and i was very impressed with Lebara Money. Fast, I got my money on time, the rates are quite good. I highly recommend it.” Other reviewers praised how easy the service was to use and recommended the service to others.

Lebara Money Transfer did have a number of negative reviews as well. The main issues customers faced were problems with needing to provide further information to initiate transfers, delays in processing payments and transfers, and referral rewards not being paid. In some cases this was due to the customer not understanding how Lebara’s systems worked. To their credit, Lebara did respond to every negative review and explained the issue or offered to resolve the problem.



Can I trust Lebara Money ?

Yes. Lebara Money Transfer is owned and operated by the Lebara Group, a large, international telecommunications and media services provider, dedicated to providing low-cost services to migrants and others around the world.

The Lebara Group has been around for more than ten years and serves over five million customers. It is one of the fastest growing telecommunications businesses, employs over 1,000 employees around the world and has revenues of over $700 million. Lebara Money is registered as a payment institution and regulated by the Financial Conduct Authority (FCA) in the UK.

Lebara Money keeps client money safe through strong encryption, security protocols, and have separate, segregated bank accounts in their financial operations. They operate only through reputable payment institutions and payment providers.

They process every transfer using the Verified by Visa® and MasterCard® Securecode services. They also have comprehensive terms and conditions and a strong privacy policy.


Authorised by the UK Financial Conduct Authority (FCA)
Firm Reference : 746677

 







How Lebara Money works

Lebara Money Transfer's money transfer process works as follows :

  1. Setup an account with Lebara Money Transfer—they will need your name, address, contact details, bank details, and proof of identification.
  2. Decide the currencies that you want to transfer money between.
  3. Book an exchange rate through the Lebara Money Transfer website.
  4. Decide if you want to make the transfer now, or lock the rate for up to 30 days.
  5. Provide details of the sender and receiver of the funds.
  6. Send money to Lebara Money Transfer through a bank transfer or debit card.
  7. Lebara Money Transfer converts the money and deposits it in the recipient’s bank account or mobile wallet.


 

Lebara Money Transfer Fees and Exchange Rates

Lebara Money Transfer Fees

Lebara’s fees depend on the country you’re sending money to, the amount you’re sending, and whether you choose to send the money now or lock in a rate. Lebara does provide all the details of exchange rates and fees up front, so you know exactly how much you need to pay before you transfer.

Fees are calculated as follows:

  • Europe — 0.4% of the transferred amount, with a minimum fee of £2.
  • Africa — 0.5% of the transferred amount, with a minimum fee of £2.
  • India — 0.5% of the transferred amount, with a minimum fee of £2.
  • Bangladesh — 0.6% of the transferred amount, with a minimum fee of £2.
  • Pakistan — 0.8% of the transferred amount, with a minimum fee of £2.
  • Sri Lanka — 0.65% of the transferred amount, with a minimum fee of £2.

Note that Lebara Money Transfer currently waive the transfer fee for “now” transactions to every country except India. There is an additional fee for the “send later” transactions – usually, an additional 0.5% of the transferred amount.


Lebara Money Transfer Exchange Rates

Here’s how Lebara Money Transfer’s exchange rates compare to the baseline, mid-market rate, for transferring £1,000 to Indian Rupees

  • Baseline interbank rate — recipient would receive 81,140.52 Indian Rupees.
  • Lebara Money Transfer rate — recipient would receive 80,691.20 Indian Rupees.
  • Lebara Money Transfer’s rate is 1% below the baseline interbank rate.

These rates are correct as of early April 2017, they do not take into account Lebara’s fees or commissions.


Combining Lebara Exchange Rates and Fees

When you combine fees and exchange rates together:

  • Immediate transfers — you will pay between 1.4% and 1.8% more than the baseline rate for immediate transfers. With Lebara Money Transfer’s current zero fees promotion to all countries except India, you only pay the 1% exchange rate margin.
  • “Locked in” forward contract transfers — you will pay between 1.9% and 2.3% more than the baseline rate for “locked in” transfers.

These rates are correct as of early April 2017, they do not take into account Lebara’s fees or commissions.


Lebara Money Transfer Mobile Applications

Lebara does provide a dedicated mobile application for Android tablets and smartphones. Although Lebara does provide media and mobile call apps for Apple devices, their money transfer app isn’t currently available on iPhones or iPads.

Services Not Offered by Lebara Money Transfer

Lebara Money Transfer does not provide some services including:

  • The ability to pay for a transfer via credit card or bank account.
  • You can’t make transfer requests over the phone by calling into a call center.
  • Recipients can’t pick up their money from local agents in cash.

The story behind Lebara

Lebara Money Transfer was founded in 2016. It is the latest in a series of new ventures by the Lebara Group, an international telecommunications business. In addition to mobile phone plans and international money transfers, Lebara also provides multimedia services to migrants and others through “Lebara Play.”

The Lebara Group was founded in 2001 by Rasiah R Leon, Baskaran Kandiah and Ratheesan Yoganathan.

It operates the Lebara Foundation, an international charity dedicated to, “making a difference to the lives of vulnerable children across the world, and do so by delivering sustainable, high-quality services for youngsters affected by conflict and poverty.”

Lebara states that, “Our ambition is to continue to care for the migrant community, supporting them on their journey by providing innovative experiences that directly relate to their lives. Lebara stands for simple, honest values and we want to make a difference to the lives of 1 billion people by 2020.”

Lebara received the “Diversity Champion Award” in 2016.


Lebara Money Transfer Incentives

Lebara does offer incentives to customers including:

  • The first time you use Lebara Money Transfer to transfer over £100, they will give you £10 off and won’t charge you any fees.
  • If you refer a friend, they will credit both you and your friend £15.
  • “Now” transfers (i.e. those made immediately, not not in the future with a locked in exchange rate) to every country except India currently carry no fees.

Contacting Lebara Money Transfer

You can contact Lebara Money Transfer as follows:

  • Via email — moneycare@lebara.com.
  • Via telephone — 0800 640 6303.

Lebara Money Transfer Offices

25 Copthall Avenue
London
EC2R 7BP
United Kingdom.

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Key facts about Lebara Money

Service information

Time to open an account -
Minimum amount -
Maximum amount -
Available languages
English
Polski
Personnal transfers Yes
Business customers No
Advanced currency contracts Yes
Required documents ID, Proof of Address
Android App Yes

Company information

Type of service provider Online money transfer operators
Active since 2016
Headquarter London
Jurisdiction United Kingdom
Regulated by FCA

Contact information

Contact support moneycare@lebara.com
Service hour -
Twitter @lebaramoney
Facebook lebaramoney


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