LemFi Money Transfer Review (2025)

LemFi is a financial technology company dedicated to simplifying international payments for immigrants. Here’s everything you need to know about their services, features, and mission.

What is LemFi?

Founded in early 2020, LemFi is a cutting-edge startup designed to meet the cross-border money transfer needs of immigrants worldwide. Backed by $33 million in Series A funding from investors like Y Combinator, LemFi has become a disruptor in the fintech space. Co-founders Ridwan Olalere and Rian Cochran, both alumni of OPay, brought their deep industry experience to address the challenges of international payments, particularly for immigrant communities. Initially focused on the African diaspora, LemFi now serves diverse groups, including Chinese students and professionals working abroad.

For additional details, check out this TechCrunch article.

LemFi: Making Financial Services Easier for Immigrants

Supported Send Countries/Regions

As of 2025, LemFi serves users residing in the United States, United Kingdom, and Canada. The company plans to expand its services to the European Union soon.

Supported Receive Countries/Regions

LemFi enables money transfers to over 25 countries, including:

• Africa: Nigeria, Kenya, Ghana, Rwanda, Tanzania, Uganda, Benin, Ivory Coast, Senegal, Cameroon.
• Asia: China, India, Pakistan.
• Europe: France, Germany, Spain, Italy, Ireland, Netherlands, Portugal, Belgium.
• Latin America: Mexico, Brazil.

Supported Platforms and User Languages

LemFi is mobile-first, with apps available for iOS and Android. It supports English, Chinese, and French, and offers customer service through WeChat to cater to Chinese users.

Supported Payment Methods

LemFi accepts debit card payments for wallet top-ups. Transfers are made using wallet balances.

Note: Credit card payments and ACH transfers are not yet supported, so ensure your debit card has sufficient funds to avoid declined transactions.

Supported Receiving Methods

LemFi supports two main receiving methods:

1. Bank Transfers: For China, UnionPay card details and recipient addresses are required.
2. Mobile Wallets: Alipay and WeChat Pay transfers require only the recipient’s mobile phone number, simplifying the process.

Transfer Speed

Debit card top-ups and transfers are processed in real-time, typically arriving within minutes, making LemFi a top choice for urgent transfers.

Transfer Limits

Sender Limits:

• Without SSN Verification (US):
  • Single transaction: $1,000
  • Daily: $1,000
  • Weekly: $2,000
  • Monthly: $3,000
• With SSN Verification (US):
  • Single transaction: $2,000
  • Daily: $5,000
  • Weekly: $10,000
  • Monthly: $20,000

China-Specific Regulations:

Transfers are subject to strict regulatory limits:

• To Bank Accounts: Maximum $3,000 or 21,000 CNY per transaction.
• To Alipay/WeChat Pay Wallets:
  • Direct wallet transfer: Maximum 10,000 CNY per transaction.
  • Annual limits: Up to 500,000 CNY.
  • Monthly limit: 5 transfers.

Trustpilot Reviews

LemFi holds an average rating of 4.0 stars on Trustpilot as of 2025, based on over 1,200 reviews. While slightly below competitors like Wise, it excels in speed and convenience.

LemFi Referral Program

Exclusive Offer

New users can sign up using referral code “QIBIR68K” to receive $30 cashback on their first transfer of $100 or more. Cashback is credited instantly and can be withdrawn or used for future transactions.

How to Share Your Referral Code

Within the app, go to the “Refer” section to find your unique referral link and code. Share it with friends and family to earn additional bonuses.

LemFi Fees and Exchange Rates

LemFi charges no transfer fees, even for low amounts like $30. Instead, it profits from exchange rate spreads. Remarkably, its rates often surpass Google’s mid-market rates, offering users additional savings.

How to Use LemFi

Step 1: Create an Account

Download the LemFi app for iOS or Android. Use referral code “QIBIR68K” during registration to secure your $30 bonus. Avoid virtual numbers like Google Voice, as they may be flagged.

Step 2: Verify Your Identity

Upload identification documents such as a passport or driver’s license. Follow the on-screen instructions to complete a facial recognition scan. Most verifications are processed within minutes.

Step 3: Top Up Your Wallet

Click “Top Up” and enter the amount. Provide your debit card details to fund your wallet. Unused funds can be withdrawn to your debit card.

Step 4: Enter Recipient Information

Initiate a transfer by selecting the recipient’s country and preferred method (e.g., Alipay or WeChat Pay). Double-check details to avoid errors.

Step 5: Submit the Transfer Order

Review all details and confirm. Transfers usually complete within minutes, with notifications sent to both sender and recipient.

FAQ

Is LemFi Safe to Use?

Yes, LemFi is a licensed financial institution adhering to strict regulations.

Can I Use LemFi Outside the US, UK, or Canada?

Currently, only residents of these countries can use LemFi. Expansion plans are underway.

What Happens if My Transfer Fails?

Contact LemFi’s customer support via in-app chat or WeChat for resolution.

Are There Any Hidden Fees?

No, LemFi charges no transfer fees, and its exchange rates are competitive.

Can I Withdraw My Cashback Bonus?

Yes, cashback bonuses can be withdrawn or used for future transactions.

Customer Support

LemFi offers dedicated customer service via:

• In-App Chat: Available 24/7.
• WeChat Support: For Chinese users.

For urgent issues, visit LemFi Support.