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  1. Articles
  2. Money Transfer Services in Lebanon: Sending and Receiving Across Borders
Money Transfer

Money Transfer Services in Lebanon: Sending and Receiving Across Borders

AdvisorLB Team·April 28, 2024
Money Transfer Services in Lebanon: Sending and Receiving Across Borders

Whether your family abroad sends you USD or you send to a relative outside Lebanon, transfer services are part of everyday life. Knowing the fee and FX structures lets you keep more of the money.

Main channels

  • Global brands: Western Union, MoneyGram, OMT, Whish Money, and others. Pickup at branch in USD or LBP.
  • Bank wires: SWIFT to a Lebanese bank account; subject to bank's rules on receiving currency.
  • Fintech alternatives: Wise, Remitly, and others — generally to foreign accounts, sometimes paid out via partner network.
  • Local exchange houses: can sometimes coordinate transfers with overseas partners.

Costs to compare

  • Upfront transfer fee paid by sender
  • Exchange rate margin between mid-market and rate offered
  • Pickup or payout currency — USD vs. LBP makes a big difference
  • Any cash-out commission at the local branch

Tips

  • Compare total cost (fee + FX) on a sample $1000 transfer across providers before choosing a default.
  • For large transfers, splitting across two channels can hedge against issues.
  • Keep the reference number — pickup requires ID and the code.