Lucky Money Review

Lucky Money Review Summary

Lucky Money's online remittance service allows you to send or receive money instantly from your foreign bank account. This service is quick and easy to use and will allow you to receive money within minutes or two days. The only catch is that you must verify your bank account. This process prevents fraud and enables regular customers to receive their money in a matter of minutes. Although it charges a low fee, you should be aware that some agents may charge an additional fee for this service. It's a reliable option to send money to and from the Philippines.

Lucky Money review
Lucky Money Features

Lucky Money Year Established

1991

Lucky Money International Clients

Lucky Money accepts international clients.

Lucky Money Age requirement

18 years

Lucky Money Currencies Offered

4 online

Lucky Money Minimum Transfer

none

Lucky Money Transfer Fees

3.99 USD

Lucky Money Office Locations

Headquarters in US, with subsidiary offices and certified agents literally across the globe.

Lucky Money Employees

10

Lucky Money Turnover

5,000,000 USD

Lucky Money Regulation

information on firms and individuals that are, or have been, regulated by u

Lucky Money Fees

Lucky Money transfer fees are 3.99 USD.

Fees with Lucky Money may vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source).

Additionally to the fixed fees taken by Lucky Money, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred.

Lucky Money Client Rating

Lucky Money has a rating of 3.

Number of Lucky Money customers

500000

Lucky Money Website

www.luckymoney.com

Lucky Money Supported Languages

Lucky Money Review

Lucky Money review
Pros and Cons of Transferring Money with Lucky Money

Most of the time money transfers with Lucky Money will be smooth. Each money transfer service have their own benefits and isses, so always weigh the pros and cons of sending money with Lucky Money money prior to submitting an application to Lucky Money.

Can you easily afford the Lucky Money fees, are the exchange rate costs reasonable with Lucky Money?

Lucky Money review
Lucky Money Advantages

  • Lucky Money has been in business over 4 years
  • Lucky Money offers PayPal as a payment method
  • Lucky Money offers Neteller as a payment method
  • Lucky Money offers Skrill as a payment method
  • Lucky Money offers phone support.
  • Lucky Money offers email support.
  • Lucky Money offers an Apple iOS mobile application.
  • Lucky Money offers an Android Google Play Store mobile app.

Lucky Money review
Lucky Money Disadvantages

  • Lucky Money does not offer PayPal as a payment method
  • Lucky Money does not offer Neteller as a payment method
  • Lucky Money does not offer Skrill as a payment method
  • Lucky Money is not availble in as many countries as other money transfer serivces.
  • Lucky Money does not offer a wide range of money transfer currency options.
  • Lucky Money does not offer a mobile wallet.
  • Lucky Money does not offer Home delivery for money transfers.
  • Lucky Money does not offer Cash pickups for money transfers.
  • Lucky Money does not offer Money orders.
  • Lucky Money does not offer Livechat support.

What Is Lucky Money?

Lucky Money is a financial service company, that offers its clients money transfer services.

Lucky Money was founded in 1991 by Jason Moss and has offices in San Francisco, US.

Lucky Money provides money transfer services to its 500000 customers who are from all over the world including India, Philippines, Nepal.

The San Francisco, US Lucky Money business was founded in 1991 to deliver money orders locally and internationally.

Do Lucky Money Offer Money Transfer?

Money transfer businesses, or other financial corporations use EFT (electronic funds transfer) to send money across distances, large or small. That is to say that it is not actual money being sent, it is rather data that represents the amount being sent that the recipient can withdraw whenever they wish.

Is Lucky Money Trusted And Established?

Lucky Money is among the most recognized and reputable money transfer platforms. It has an exceptional track record and offers reasonable rates.

Lucky Money was established in 1991 in San Francisco, US, and has been in operation for around 31 years Lucky Money have a head office in San Francisco, US.

Lucky Money review
How much does it cost to send a Lucky Money Transfer?

Lucky Money money transfer exchange rates are quite minimal compared to banks and other money transfer providers. A minimal percentage is charged on top of the exchange rate as standard practice. Lucky Money only charges 3.99 USD, when compared to other money transfer service providers.

Lucky Money review
How much can I send with Lucky Money?

The maximum transfer amount with Lucky Money is up to 2999 USD (or its currency equivalent) online.

While Lucky Money charges a small percent of transfer fees, the brand offers reasonable exchange rates.

Lucky Money review
Lucky Money Money Transfer Terms and Conditions

When transferring money with Lucky Money, it is crucial to keep tabs on the following:

  1. Lucky Money Speediness. Often the need to money transfer may be urgent and time critical.
  2. Lucky Money Reliability and reputation. The safety of money and personal information can be a concern for those wanting to use international money transfer services to send money.
  3. Lucky Money Transaction charges. Transaction charges are important as the majority of customers wish to send money overseas without having to worry about paying excessive charges.
  4. Lucky Money Ease of use, and convenience. Your money transfer platform should be flexible and offer a good range of options and features, making it more convenient for customers to send money overseas.
  5. Lucky Money Customer service. Because one can often run into problems when transferring money. A money transfer platform with excellent customer service could solve a lot of problems. Lucky Money customer service should respond to your queries quickly and work with you to resolve any issues that you have.

Lucky Money review
How Lucky Money Compares To Other Money Transfer Companies

NameLucky MoneyXE Money TransferRemitly
Usedby5000002800000003000000
Transfer Time1-2 business days1-4 business days3-5 business days
Min TransfernoneUS$1.00US$1.00
Max Transfer2999 USDUS$500,000.00 (or equivalent)US$20,000.00
Payment MethodsDoor to Door Delivery, Bank Deposits, Cash Pick-UpBank transfer, credit card, debit cardBank transfer, credit/debit card
iOS Appyesyesyes
Android Appyesyesyes

Lucky Money review
Lucky Money Risk Warning

Any taxes or charges are payable in the destination country. costs may exist that are not paid through Lucky Money or imposed by Lucky Money. Your Lucky Money money transfer transaction may be cancelled if it is demmed to be connected with prohibited activities including all applicable laws regarding anti money laundering or counter terrorism financing laws. or the transaction is actioned through unauthorised use of your Lucky Money account.

Lucky Money review
Lucky Money Fees & Exchange Rates

Several money transfer platforms like Lucky Money charge money for every money transfer a customer makes through their platforms. Other than that, every time an individual exchanges money from one particular currency to another, the money transfer operator in this case Lucky Money may charge for a currency exchange.

Lucky Money review
Lucky Money Transfer Fees

A transfer fee is the sum of money that a money transfer operator like Lucky Money charges a customer for transferring money to a recipient. The amount charged depends on the operator charging it.

Lucky Money review
Lucky Money Exchange Rate Margins

Exchange rate margins are how Lucky Money, banks and other financial corporations make profit off their services instead of charging customers with commission fees.

When a bank or a money transfer service like Lucky Money quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with Lucky Money to see what their exchange rate margin is.

Lucky Money review
Lucky Money Methods to Transfer Funds

A Lucky Money fund transfer is when someone sends money from their account to another person's account. Money can be transferred using different methods, e.g. online, via the phone, or a mobile app.

The methods to transfer funds are:

  • Manual EFT
  • Automatic EFT
  • Bill payment
  • Correction

Lucky Money enables users to transfer money using bank transfer, via none.

Lucky Money review
Lucky Money Currencies Supported

Money transfer operators that offer more currency options are beneficial because they make for reduced conversion fees. This way customers do not have to pay exorbitant conversion fees when transferring money.

Lucky Money offers every available world currency to its customers. We list the major Lucky Money supported currencies below.

Lucky Money Money Transfer Currencies
NameCurrencies
PHP, USD, INR, NPR
AED, BDT, BHD, BTN, HKD, IDR, ILS, INR, JOD, JPY, KWD, LKR, MYR, NPR, OMR, PHP, PKR, QAR, RUB, SGD, THB, TRY, TWD, VND, BAM, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, NOK, PLN, RON, RSD, SEK, BBD, CAD, CRC, DOP, GTQ, HNL, JMD, MXN, TTD, USD, XCD, AUD, FJD, NZD, TOP, WST, ETB, GHS, GMD, GNF, KES, MAD, MUR, MZN, RWF, SLL, TND, TZS, UGX, ZAR, ARS, BOB, CLP, COP, GYD, PEN, PYG, UYU
ALL, ARS, EUR, BSD, BDT, XOF, BOB, BRL, BGN, BIF, USD, XAF, CLP, CNY, COP, KMF, CRC, HRK, CZK, DOP, EGP, ETB, FJD, GMD, GHS, GTQ, GNF, GYD, HNL, HUF, INR, IDR, JMD, JPY, JOD, KES, MGA, MWK, MYR, MXN, MAD, NPR, NGN, PKR, PYG, PEN, PHP, PLN, RON, RUB, RWF, SLL, ZAR, KRW, LKR, TSZ, THB, TND, TRY, UGX, UYU, VND, ZMW
AED, ARS, AUD, BDT, BGN, BWP, CAD, CHF, CLP, CNY, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW
AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, IDR, INR, JPY, MYR, NOK, NZD, PLN, RON, TRY, SEK, SGD, USD, ARS, BDT, BWP, CLP, CNY, COP, CRC, EGP, GEL, GHS, ILS, KES, KRW, LKR, MAD, MXN, NGN, NPR, PHP, PKR, RUB, THB, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AED, EUR, PLN, AUD, GBP, SEK, CAD, HKD, SGD, CHF, HUF, USD, CZK, NOK, ZAR, DKK, NZD
AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AUS, SGD, HKD, INR, MYR, EUR, GBP, USD, CAD, JPY, NZD
USD, AUD, CHF, EUR, HKD, JPY, BBD, BMD, BSD, DKK, GYD, INR, JMD, KYD, MXN, NOK, NZD, SAR, SEK, SGD, TTD, ZAR, GBP
AUD, BGN, CAD, HRK, CZK, DKK, EUR, HKD, HUF, INR, ILS, JPY, JOD, MYR, MAD, NZD, NOK, OMR, PLN, GBP, QAR, RON, SAR, RSD, SGD, ZAR, KRW, SEK, CHF, THB, TRY, AED, USD
AED, AUD, BND, CAD, CHF, CZK, DKK, EUR, FJD, HKD, HUF, IDR, ILS, INR, IRR, JPY, KRW, KWD, LKR, MAD, MXN, MYR, NGN, NZD, OMR, PEN, PGK, PHP, PKR, PLN, SAR, SCR, SDG, SEK, SGD, THB, TOP, TRY, TWD, USD, VND, VUV, WST, XOF, XPF, ZAR
EUR, GBP, USD, CAD

Lucky Money review
Lucky Money Transfer Options

Lucky Money offers the following transfer options:

Lucky Money Money Transfer Options Compared
NameTransfer Options
bank deposit, cash pickup
Bank deposit
Bank deposit, cash pick-up, home delivery, mobile wallet deposit.
Bank deposit, mobile wallet deposit
Bank deposit, mobile wallet deposit
Bank deposit, mobile wallet deposit
Bank deposit, mobile wallet deposit
Bank deposit, cash pick-up (Philippines)
bank deposit, cheque, wire transfer, debit card, credit card
Bank deposit, cash pick-up, VISA & MasterCard, ATMs, mobile wallet deposit (depending on country)
Bank deposit
Bank deposit, cash pick-up , door-to-door delivery

Single Payments

’Single payments’ is a term used to recognize a one-time money amount from an allowance. For a single payment, the user may use a single credit card (or debit card) and have a single invoice.

Regular Payments

A regular payment is a highly economical and easy way to transfer money with Lucky Money. It is best suited for customers who have to transfer regular smaller amounts (usually three, four, or smaller five-digit amounts).

Lucky Money review
Who Lucky Money Services Are Available To

Lucky Money offers services for sixty different currencies across more than one-seventy countries.

The more global a money transfer operator becomes, the more reliable it is for people across the globe.

Lucky Money Country Restrictions

Lucky Money does not operate in the following countries :

  • Afghanistan
  • Aland Islands
  • American Samoa
  • Angola
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Barbados
  • Belize
  • Benin
  • Bhutan
  • Bonaire (including Sint Eustatius and Saba)
  • Bouvet Island
  • British Indian Ocean Territory
  • Burkina Faso
  • Burundi
  • Cape Verde
  • Central African Republic
  • Chad
  • Cocos (Keeling) Islands
  • Comoros
  • Congo
  • Democratic Republic of
  • Congo
  • Republic of
  • Cook Islands
  • Crimea
  • Cuba
  • Curacao
  • Djibouti
  • Equatorial Guinea
  • Eritrea
  • Faroe Islands
  • Fiji
  • French Guyana
  • French Polynesia
  • French Southern Territories
  • Gabon
  • Gambia
  • Greenland
  • Grenada
  • Guadeloupe
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and Mcdonald Islands
  • Holy See (Vatican City State)
  • Iran
  • Iraq
  • Ivory Coast (Cote d'Ivoire)
  • Japan
  • Kiribati
  • Kosovo
  • Kyrgyzstan
  • Lao People’s Democratic Republic
  • Lebanon
  • Liberia
  • Libya
  • Macao
  • Mali
  • Marshall Islands
  • Martinique
  • Mauritania
  • Mayotte
  • Micronesia
  • Federated States of
  • Montserrat
  • Myanmar
  • Namibia
  • Nauru
  • New Caledonia
  • Niger
  • Niue
  • Norfolk Island
  • North Korea
  • Northern Mariana Islands
  • Palau
  • Palestinian Territory
  • Papua New Guinea
  • Reunion
  • Pitcairn
  • Rwanda
  • Saint Barthelemy
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin
  • Saint Pierre and Miquelon
  • Saint Vincent and the Grenadines
  • Sao Tome e Principe
  • Seychelles
  • Sierra Leone
  • Sint Maarten
  • Solomon Islands
  • Somalia
  • South Georgia and the South Sandwich Islands
  • Sudan (North and South)
  • Suriname
  • Svalbard and Jan Mayen
  • Syria
  • Tajikistan
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Vanuatu
  • Venezuela
  • Wallis and Futuna
  • Western Sahara
  • Western Samoa
  • Yemen
  • Zimbabwe
  • Crimea
  • Cuba
  • Iran
  • Libya
  • North Korea
  • South Sudan
  • Sudan
  • Syria

Certain countries are restricted because Lucky Money is not allowed to legally operate in those regions or it is not economically viable for Lucky Money to provide money services in these regions.

Lucky Money review
Lucky Money International Money Transfers

An International Transfer is when someone sends money from their account in one country to a bank account in another country.

Setting up your Lucky Money money transfer is quick and simple with the modern Lucky Money online platform.

Transferring money internationally used to be a tedious process 10 years ago but advances in software and the internet have made transferring money allot easier.

These days, you can send a money transfer with ease on the Lucky Money website.

The Lucky Money website includes useful and easy-to-access option for those who wish to track their money and monitor when it can be received, providing a safe and accessible option if you'd like to keep an eye on your transfer.

Lucky Money review
Lucky Money Minimum Money Transfer

Several money transfer companies do not have a minimum money transfer amount. Making it easy for their users to send small amounts of money. Lucky Money has a minimum transfer amount of none.

Lucky Money review
Lucky Money Maximum Money Transfer

Money transfer companies often do not have maximum transfer limits. For example, Lucky Money does not have a maximum transfer limit when the user is paying through phone. There is however, a 2999 USD limit per transaction for online transfers.

Lucky Money review
Lucky Money Money Transfer Fees and Charges

These are the fees charged by Lucky Money and other money transfer companies (or other financial corporations) for transferring money. Several companies however, do not charge their users for transferring money. The only charges there are to pay are currency conversion charges.

Lucky Money review
How Long Does It Take to Get a Lucky Money Money Transfer

Lucky Money money transfers do not usually take very long. It normally takes less than 24 hours for a money transfer to complete between two accounts with the same financial corporation. While in the case of money transfers with money transfer services like Lucky Money, it can take a little as a few minutes. If the money is being sent overseas, it can take up to five days for the recipient to receive the money from Lucky Money.

Lucky Money review
Lucky Money PLC Status

If a company has the acronym PLC at the end of its name, it means that the business offers its shares to the public and is traded on a public stock exchange. This alone makes the company more reputable. Lucky Money is not a publically listed company. Lucky Money is a privately owned company.

Lucky Money review
Lucky Money Money Orders

The charges for issuing money orders with Lucky Money are 3.99 USD.

Lucky Money review
Lucky Money Mobile Top Up

Lucky Money offers mobile top ups.Lucky Money mobile top ups are where a user can add credit to a recipient’s mobile phone number. The recipients number has to be local. These are normally processed within minutes, if not seconds.

Lucky Money COVID-19 Help

Some money transfer companies offer COVID-19 financial assistance. This may be in many forms including payment holidays, reduced interest rates and more options to pay. Check with Lucky Money directly to see what they are able to offer if you are adversely affected by COVID-19.

Who are Lucky Money Money Transfers Best For

There may be many reasons you are looking to action a money transfer with Lucky Money. These reasons can include debt consolidation, medical bills, student debt, collection agency debt, wedding costs, holidays, home repairs and repaying friends and family.

Lucky Money money transfers are best for people looking for looking for a reliable fast money transfer service.

Lucky Money Guide for Fast Money Transfer Approval

For Lucky Money to be able to process your money transfer application as quickly as possible make sure you have everything Lucky Money need. If you and Lucky Money need to go back and forth it may delay the Lucky Money application process. Make sure every piece of information you give Lucky Money is accurate.

Please note that you must have at least a minimum of one active bank account for Lucky Money to process your money transfer.

Lucky Money Application Time

Application time refers to the amount of time you have to wait for your Lucky Money registration to be approved. This should not take long, especially if you have nothing which should come up as red flag on the Lucky Money system.

Lucky Money Approval Time

It is the time it takes for Lucky Money money transfer operator to approve the money transfer being made. Depending on the situation this can take up to five days.

Lucky Money Funding Time

It is the amount of time it takes for the recipient to receive the money transfer. Once your Lucky Money money transfer has been approved the money should be in your account within four working days.

Lucky Money review
Things to Check Before a Lucky Money Money Transfer

Why more features are useful for modern life’s and why new challenger banks are starting to beat traditional banks.

Here are a number of important things to consider before considering Lucky Money money transfer:

  1. Reliability and safety
  2. Making preparations before the transaction
  3. Convenience
  4. Transfer and conversion rates
  5. The quality of the customer service offered

Lucky Money review
Lucky Money Customer Support

Lucky Money support should be there to help customers with their issues which includes answering their queries, guiding them through and difficult processes and issues when transferring money. Lucky Money customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.

When getting a Lucky Money money transfer you will want to speak to a Lucky Money representative in a language that you are comfortable with. All your Money Transfer queries and issues should be resolved quickly.

Lucky Money review
Does Lucky Money Offer Live Chat?

Customers can reach out to Lucky Money through live chat to resolve Lucky Money money transfer account issues or difficulties with their Lucky Money account that they can't solve. Live chat, or live support is a real-time live chat feature used by customer support representitives allowing customers to instant message to and receive guidance from a trained agent regarding a your money transfer related query.

Lucky Money review
How does Lucky Money Compare with Other Money Transfer Companies?

When deciding upon a money transfer company like Lucky Money you will want to know how Lucky Money compares with other leading online money transfer companies. See how Lucky Money compares below.

  1. Visit Lucky Money alternative XE Money Transfer

    Used By: 280000000
    Currencies Available: 76
    Transfer Fees: none
    Payment Methods: Bank transfer, credit card, debit card
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$500,000.00 (or equivalent)
    Year Founded: 1993

  2. Visit Lucky Money alternative Remitly

    Used By: 3000000
    Currencies Available: 63
    Transfer Fees: 0-3.99$
    Payment Methods: Bank transfer, credit/debit card
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$20,000.00
    Year Founded: 2011

  3. Visit Lucky Money alternative Wise Multi-Currency Account

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 1 USD
    Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
    Year Founded: 2011

  4. Visit Lucky Money alternative Wise

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$1,000,000 (varies based on currency)
    Year Founded: 2011

  5. Visit Lucky Money alternative CurrencyFair

    Used By: 150,000
    Currencies Available: 17
    Transfer Fees: 0.45%
    Payment Methods: Bank transfer, debit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: £5.00 (or equivalent)
    Max Transfer: £10,000,000.00 (or equivalent)
    Year Founded: 2009

  6. Visit Lucky Money alternative Wise Business

    Used By: 11000000
    Currencies Available: 55
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 1 USD
    Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
    Year Founded: 2011

  7. Visit Lucky Money alternative InstaReM

    Used By: 130000000
    Currencies Available: 11
    Transfer Fees: 0%-1%
    Payment Methods: bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: $1 (minimum sending amounts could differ based on certain currency pairs)
    Max Transfer: No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country)
    Year Founded: 2014

  8. Visit Lucky Money alternative Scotiabank

    Used By: 25,000,000
    Currencies Available: 23
    Transfer Fees: none
    Payment Methods: Bank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: none
    Max Transfer: 10000 USD
    Year Founded: 1832

  9. Visit Lucky Money alternative Skrill

    Used By: 120,000
    Currencies Available: 33
    Transfer Fees: none
    Payment Methods: Cash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$1.00 (varies based on certain currencies)
    Max Transfer: US$2,500.00 / day (weekly and monthly limites also apply)
    Year Founded: 2001

  10. Visit Lucky Money alternative MoneyGram US

    Used By: 150000000
    Currencies Available: 46
    Transfer Fees: 0-1.99$
    Payment Methods: pay by card or directly from your bank account
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 3000 USD
    Year Founded: 1940

  11. Visit Lucky Money alternative Xoom

    Used By: 250000000
    Currencies Available: 4
    Transfer Fees: 0$-40$
    Payment Methods: Bank transfer, debit/credit card, PayPal balance
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$10.00
    Max Transfer: 2999 USD/day, 6000 USD/month, 9999 USD/3 months
    Year Founded: 2001

Lucky Money review
Lucky Money Website and Mobile Apps

Lucky Money has a website available online but it may be useful to manage your Lucky Money account from your mobile device like your tablet or phone.

Lucky Money offers an Android mobile application on the Google Play store.

Lucky Money offers an Apple IOS mobile application for iPhones and iPads allowing Lucky Money to users to check their Lucky Money accounts on their iOS mobile devices.

Lucky Money review
Lucky Money Deposit and withdrawal Methods

Lucky Money offers the following Money Transfer payment methods: Door to Door Delivery, Bank Deposits, Cash Pick-Up. All of significant bank systems are all acknowledged with Lucky Money.

Lucky Money offers ACH Payment which is used for direct deposit and debit transfers within the US. It is similar in nature to BACS (for the UK) and EFT (for Canada). Users can pay through bank transfer.

The recipient will receive the money in their bank account and can withdraw it using the method they prefer. They cannot, however, receive the money in the form of cash.

Take note that Lucky Money may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from Lucky Money.

Lucky Money review
Is My Money Safe With Lucky Money?

Lucky Money is a reliable, secure, and trusted option for sending money overseas. Lucky Money are registered and regulated with the information on firms and individuals that are, or have been, regulated by u.These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by Lucky Money customers.

Lucky Money review
Lucky Money Financial Regulation and Safety of Lucky Money Funds

Every business that wants to send money across borders (in excess of €3 million per month) must be licenced under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, both of which were created by the UK government but executed by the FCA for UK residents.

Consumer credit, in simple terms, is credit offered to individuals so they can purchase goods or cover personal expenses. It does not cover long term investments such as purchasing property. It allows for a properly managed economy to function and further encourages economic growth.

Firms like Lucky Money that offer money transfer to retail customers are legally considered to be offering consumer credit.

A financial regulator ensures that consumers are protected, there is fair competition in the money transfer industry and the integrity of the Financial services industry as a whole is maintained.

Getting a money transfer with a regulated company is essential as it offers an increased level of protection than a money transfer from an unregulated one. This is because regulators are able to enforce strict rules and stop unscrupulous money transfer operators.

Laws differ on who can and cannot offer consumer credit in each country. Credit firms have strict rules that they must follow in order that they are legally allowed to transfer money to consumers. These laws are in place to protect consumers becoming trapped in a money transfer they can never pay off.

Be sure that Lucky Money is fully licenced as a money transfer company.

Lucky Money review
Lucky Money Payment Services Regulations and Lucky Money

The Payment Services Regulations Directive, is run by the European Commission in order to govern payment services and their providers across the European Union as well as the European Economic Area.

One of its goals has been to make foreign currency transactions transparent, much like currency payments. This is to protect consumers and businesses from being swindled.

What is the Financial Conduct Authority?

The FCA is a control body meant to license money transfer companies. Companies such as banks, Forex brokers, and money transfer operators are monitored the most. This is because they deal in situations that involve many intricacies, such as transferring money and offering loans, etc.

All reputable money transfer businesses that operate within the United Kingdom by law have to be registered and authorised as a payment institution by the Financial Conduct Authority (FCA) to comply with the Payment Services Regulations that were introduced in 2017.

Check Lucky Money is financially regulated. Lucky Money is regulated by the Financial Conduct Authority (FCA).

This makes sure that your Money Transfer agreement is above board and safe. In Addition, it Usually Means that Lucky Money Possess a responsibility of care to their clients.

Is Lucky Money Registered as a Money Service Business with HM Revenue & Customs

Financial institutions (which do not classify as banks) which convert and transmit money like Lucky Money are known as Money Service Businesses. While they provide services similar to banks, they are still not considered banks. They offer more varied product options to individuals looking to transmit or convert money.

Financial authorities tend to keep tabs on Lucky Money and other Money Service Businesses the most because the type of services they offer can leave them vulnerable to be used in financial crimes like money laundering. This is why it is crucial for them to be registered with the HM Revenue and Customs in the United Kingdom.

Lucky Money Segregation of Client Funds

Lucky Money as part of their regulation are required to segregate client funds from Lucky Money company funds and keep all client funds within a bank that is authorised as a credit institution by the regulator. All client funds should be kept in the most reputable third-party financial institutions such as Barclays or the Bank of America.

Lucky Money regulatory requirements mean that Lucky Money Money Transfer funds and your funds should be totally separate. Lucky Money cannot use any money that is still legally yours to conduct Lucky Money daily business like paying Lucky Money suppliers and costs. Your funds should be kept by Lucky Money in a segregated bank account.

Lucky Money Regulation Checklist

  • Check whether Lucky Money has authorisation to offer consumer credit
  • Check the type of activities that Lucky Money are allowed to conduct with their authorisation
  • Check the contact details, trading names and main business of Lucky Money list on their website and the regulator match.

Lucky Money Fraud Prevention Features

Fraud prevention is highly crucial when transferring money because once the money is gone, it's gone. Scammers most often gravitate towards money transfers. Lack of fraud prevention procedures can lead to loss of funds, or even identity theft.

Lucky Money goes to great lengths to protect your Lucky Money account from fraudulent use. We explain some of Lucky Money anti-fraud features below:

  1. Lucky Money has SSL encryption that protects the customer's private information.
  2. Lucky Money has cutting edge technology that monitors almost everything i.e. from logins to transactions.
  3. The Lucky Money platform has a bespoke monitoring system that helps to detect and prevents fraud.

Automated Transaction Confirmations

Having instant notifications turned on is not only convenient because the user is instantly alerted whenever there is a payment related activity on their Lucky Money account, as you are instantly aware of every Lucky Money transaction these notifications to your phone help you to keep tabs on any suspicious activity.

After conducting a transaction with Lucky Money, the Lucky Money accounts primary contact will receive a transaction confirmation confirming the transaction amount, rate exchange applied, and Lucky Money delivery instructions.

Lucky Money Monitors Your Account for Suspicious Transactions

Lucky Money has systems and controls in place to detect fraudulent activity and protect Lucky Money client accounts from misuse. If Lucky Money detect a questionable transaction on your Lucky Money account, Lucky Money will contact you to verify the transactions legitimacy to ensure your Lucky Money funds are safe.

How Does Lucky Money Make Money?

Lucky Money and other money transfer companies often charge their customers a certain amount of interest fees on every transaction made. The fees depend on the amount of money the customer wishes to transfer. Lucky Money also earn money via foreign exchange rates.

Money transfer companies like Lucky Money and banks need to survive, so they make money on interest from accounts and money transfers.

Lucky Money Frequently Asked Questions

We list some of the most frequently asked Lucky Money questions below.

Is there a limit to how much I can transfer with Lucky Money?

You can transfer up to 2999 USD at a time.

When will I receive my Lucky Money transfer?

It normally takes 3-5 business days.

Is it possible to cancel my Lucky Money transaction?

If you need to cancel your transaction due to any reason, kindly contact us on this number (415) 864-8367.

How old do you have to be to sign up to a Lucky Money account

To signup to a Lucky Money account you will need to be at least 18 years old.

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Is Lucky Money a Scam?

Lucky Money have been in operation since 1991 and have over 500000 customers and 10 employees. Lucky Money is not a scam.

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Sending money online with Lucky Money

Sending money with Lucky Money is a single process once you have registered and verified your Lucky Money account and payment methods.

  1. Go to the Lucky Money website
  2. If you have a Lucky Money account you can log in, otherwise you will need to create a new account.
  3. Decide how much you would like to send and where you want to send it to.
  4. Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data.
  5. Tell Lucky Money how the beneficiary wants to get their money. Eg. through a bank transfer, cash pickup, or via some other means.
  6. Agree to the Lucky Money exchange rate and any fees.
  7. Pay for your Lucky Money transfer.
  8. Enter your information and provide and supporting documentation to verify your identity.

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How do I receive money from a Lucky Money money transfer?

Depending on where you are located, you have a few options for how you can receive any money that has been sent to your Lucky Money account. Your options for receiving money depend on the information entered by the sender, the country you are in, the currency you are receiving, and some other factors. Some methods of receiving money may not be available to you.

Receive Lucky Money money directly into a bank account

Bank transfers are useful because not only are they safe, but the whole process is quick, and they offer the kind of flexibility no other method can. Lucky Money allows for a deposit directly into your bank, credit union or other financial account.

Lucky Money Cash Pickup

Some money transfer companies have agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent. Lucky Money allows you to pick up money in person at a Lucky Money agent location.

Lucky Money Smart Money and mobile wallets

A mobile wallet virtually stores cash card details on a smartphone. These are quite convenient as they allow for users to make purchases at physical stores without needing to carry money.

Lucky Money Does not support mobile wallets.

Lucky Money Home delivery

It is a way for an individual to receive money without having to leave home. What this means is that any money you send can be received in person at a designated home address. The money is delivered by a local agent. Lucky Money do not offer home delivery money transfers.

When was Lucky Money founded?

Lucky Money was founded in 1991.

Is Lucky Money Any Good?

Lucky Money have a rating of 3 and are financially regulated, Lucky Money can be considered a good money transfer company.

Is it easy to close my Lucky Money account?

Its is easy to close you Lucky Money account. You will have to make sure any outstanding payments and fees due to Lucky Money are paid in full Before Lucky Money will fully close your account. Make sure when closing your account Lucky Money send you an official confirmation that your account is closed and no more monies are due to Lucky Money.

Does it take long to setup a Lucky Money account?

No, setting up a Lucky Money account can take a few minutes. You will need to provide some proof of identity and address. You should definitely be able to access all the features of your Lucky Money account in 1-3 days.

Where are Lucky Money based?

Lucky Money are based in San Francisco, US

Countries where Lucky Money is legal?

Lucky Money is legally allowed to operate in over 3 countries.

How do I track a Lucky Money Money Transfer

You can track a Lucky Money money order by calling Lucky Money or by tracking the order online. Call Lucky Money number on (415) 864-8367. The Lucky Money automated phone system will take a few details and give you a status update. You can go online to the Lucky Money website and check the status of a money transfer at any time.

If you have a Lucky Money online account, log in and view your transaction history; If you do not have an online account, or if you are the receiver of the Lucky Money transaction, use the Lucky Money payment reference number on the Lucky Money website to check the status of the transfer.

Can I cancel my Lucky Money transfer?

The way that you cancel a Lucky Money transfer depends on how you created and sent the Lucky Money money transfer originally.

You may need to contact Lucky Money by phone on (415) 864-8367, through their website at www.luckymoney.com or via email [email protected] Requests are typically processed within 30 days, and you may be charged a cancellation fee by Lucky Money.

If you made the Lucky Money transfer online, then you should log in, find the transaction in your transaction history and then cancel it on the 'Transaction Details' page. If you do not have a Lucky Money account, use the 'Track a Transfer tool to find the transaction and then cancel it on the Transaction Details page.

Double check the terms and conditions for cancelling a Lucky Money transfer on their website.