Lemfi Review — Fees, Rates and Pros & Cons
Diaspora-focused remittance: zero fees on Nigeria, Ghana, India, Pakistan and 30+ other destinations. Founder is Nigerian-Canadian.
Read user reviews on TrustpilotDiaspora-focused remittance: zero fees on Nigeria, Ghana, India, Pakistan and 30+ other destinations. Founder is Nigerian-Canadian.
Read user reviews on Trustpilot2020
Toronto, Canada (also London)
Private (Series B, ~$53M raised)
Lemfi charges £0 / $0 / €0 transfer fees on most major corridors including Nigeria, Ghana, Morocco, India, Pakistan, China and Kenya. A small fee (up to $1.99) applies on a handful of less-common routes. Revenue comes from a small exchange-rate margin.
Lemfi is regulated as a money services business or licensed bank in the following jurisdictions:
| Country / Region | Regulator |
|---|---|
| UK | FCA |
| Canada | FINTRAC |
| USA | FinCEN MSB |
| EU | Authorised payment institution |
Lemfi is most competitive on these currency pairs:
Side-by-side fee, rate and recipient amount comparison with verdict from live Wise data.
Profile based on publicly available company information. For pricing, KYC requirements and current promotions, always check Lemfi's official site.