Mukuru vs LemFi: Fees, rates and transfer times (2025)

When it comes to international money transfers, both Mukuru and LemFi are highly efficient money transfer services that facilitate sending money across different countries. While the core objectives of both platforms are the same, they follow different approaches when it comes to services, user experience and markets.

Let’s take a brief overview of both of the platforms.

Mukuru vs LemFi overview

Mukuru overview

Mukuru is an easy, convenient and secure money transfer service that primarily focuses on African countries including Zimbabwe, South Africa, Kenya, Zambia and more. You can also send money to some countries in Asia and Europe, as well as the United States. With its strong reputation in the remittance sector, this platform mainly caters to individuals in the diaspora for sending money back to their families at home.

You can send money with Mukuru through cash pick-up services, mobile wallets or bank deposits by using different payment methods. The major ones include bank transfers, physical agents and credit/debit cards. Mukuru has several physical agents’ locations where these agents help you to make payments in cash.

LemFi overview

Like Mukuru, LemFi is a fintech platform, which mainly focuses on providing fast-international remittance services at competitive prices. Specifically targeting the African market, it allows people from South Africa, the US, EU and UK to send money to various African nations including Kenya, Tanzania, Ghana and South Africa.

LemFi supports different transfer methods including bank transfers, mobile money and credit/debit cards. To fund your transfers, you can opt for bank cards or mobile money. LemFi operates through its website and mobile app and is a safe platform that allows you to send money transfer quickly and with full transparency.

Key differences between Mukuru and LemFi

Although both of these platforms provide money transfer services, there are some key differences between them.

Target market: For Mukuru, the target market is the African diaspora, particularly those in Southern Africa sending money to Africa. Meanwhile, LemFi is a digital remittance service that allows cost-efficient transfers to over 22+ countries across the world.

Transfer methods: With Mukuru, you can transfer money through bank transfers, mobile wallets and cash pick-ups. LemFi mainly focuses on digital payments; it does not provide cash pick-up services.

Countries supported: Mukuru operates in more than 20 countries. Meanwhile, LemFi supports transfers mainly to West and East African countries and from the UK, US and Canada.

Physical locations: While Mukuru has physical agent locations where people can opt to pay in cash, LemFi is a purely digital platform.

Payment methods: Mukuru and LemFi both support credit/debit cards and bank transfers for payments. However, Mukuru also allows cash deposits while LemFi accepts mobile money.

Mobile app: Mukuru has a mobile app to send money and track your transfers while LemFi is mobile-first with an app that allows fast and easy transfers.

Fees: Mukuru has variable fees, which vary depending on transfer methods and destination country. It may also charge fees for cash pick-up. LemFi is clear about its fees and has a transparent pricing structure.

Transfer speed: Money transfers with Mukuru may be instant or take 1-2 business days depending on the type of transfer. Most LemFi transfers are successful in seconds.

Service: Mukuru has a mobile app as well as physical agents. LemFi has a digital-only platform, which is simple to use.

Exchange rates and transfer fees

Both Mukuru and LemFi offer competitive rates for cross-border transfers but the fees and rates can vary on different factors.

Mukuru exchange rates and transfer fees

Mukuru does not provide exact exchange rates on its website as its exchange rates are influenced through real-time market rates. They also vary by country and currency pair. However, you can check the exact rate during your transfer on the Mukuru website or mobile app.

Mukuru charges a flat fee based on the amount being sent and the transfer method. If you’re choosing cash pick-up, it may incur a higher fee than a bank transfer. Mobile wallet transfers are the most cost-effective but are only supported in some African countries.

Mukuru also charges a service fee along with an exchange rate margin, which is mostly disclosed before you confirm the transaction.

LemFi exchange rates and transfer fees

Compared to Mukuru, LemFi is more transparent about its fees and offers more competitive exchange rates and transfer fees with a minimal margin over mid-market rates.

The exchange rate depends on the currency conversion of the countries involved and for this, it uses real-time exchange rates. In general, the rate at the time of sending money applies. Even then, LemFi’s rates are quite competitive as the platform offers digital-first transactions.

There are no additional or hidden fees with LemFi’s international money transfers and the exchange rates depend on the sending country and the amount being sent.

Service quality and user experience

A high service quality means efficient and safe transactions with a smooth and user-friendly experience. Let’s see where Mukuru and LemFi stand in customer satisfaction criteria.

Mukuru Customer Satisfaction

Mukuru is renowned for its positive feedback from its customers based on its reliable services with a wide range of options.

Customers also appreciate its physical agent locations as it provides in-person assistance. However, some customers noted its website and mobile app could be better in terms of simplicity and speed. Other than this, Mukuru has a strong reputation in the African remittance market.

LemFi Customer Satisfaction

LemFi is famous among its customers for its transparent and low pricing structure. Customers report a smooth user experience with its digital-first platform and easy-to-use mobile app. The fact that there are competitive exchange rates and no hidden fees make it a popular choice among people who prioritise value and simplicity.

Some people from remote and rural areas find it frustrating that LemFi do not have physical agent locations. That said, it’s appreciated by its customers for its speed, affordability and transparency.

Transfer times

Mukuru money transfer times 

Depending on the payment method and destination, Mukuru transactions get completed either on the same day or within 1-2 business days.

LemFi money transfer times

LemFi is known for its quick transfers; its transactions are often completed within minutes.

Security and trustworthiness

Mukuru

Mukuru is a licensed and regulated money transfer service that uses industry-standard encryption and security protocols. Its transactions are fully compliant with the financial regulations of the countries it operates in.

LemFi

LemFi uses a robust security system and secure payment gateways to ensure safe and secure transactions. It’s also a licensed and regulated money transfer service, adhering to local financial regulations.

Final verdict

Both Mukuru and LemFi offer reliable, convenient and transparent remittance services for transferring money to and from African Countries. Though similar, both of them follow different approaches with Mukuru having a blend of traditional and digital transfers and LemFi specialising in fast, digital payment transfers.

But if you’re looking for a better alternative, consider TransferGo. With our low-fees, great exchange rates and super-fast transfers, we are an excellent choice for no-hassle international money transfers.

What makes TransferGo a better choice?

• Fast, affordable money transfers to over 160 countries including popular destinations like Nigeria.
• A clear and transparent structure that ensures there are no hidden fees. What you see is what you pay.
• A user-friendly interface that allows you to make a transfer in just a few taps.
• A robust security system that makes all your transactions safe and secure.
• A seamless customer experience available in 9 languages.

FAQs

What are the key differences between Mukuru and LemFi international money transfers?

While Mukuru has multiple payment channels including physical cash pick-up locations, LemFi offers money transfers through its app and website only.

In terms of costs, LemFi comes up top as it doesn’t charge transfer fees for international transactions. LemFi is more focused on Europe and the North American region, while Mukuru has a much wider country base. 

How do Mukuru and LemFi compare in terms of exchange rates and transfer fees?

While Mukuru charges transfer fees for international transfers, LemFi’s international transfers are without fees. Therefore, LemFi is the most cost-effective option amongst the two. Exchange rates are dynamic and vary across both platforms.

What are the transfer times like for Mukuru and LemFi? 

While Mukuru transfer times depend upon destination country, the recipient can collect the amount from collection partners or in their bank account on the same day the transfers are confirmed. Card purchases are confirmed every hour and cash transfers are confirmed the same day, if deposited before 1 PM in the UK.

With LemFi, the estimated transfer times are typically 3 to 5 minutes for most locations.

What security measures do Mukuru and LemFi have in place for international transfers? 

Mukuru boasts its information security to be ISO/IEC 27001 compliant. Secure protocols and end-to-end encryption are used during data transit. Multi-factor authentication systems are in place. Mukuru conducts regular information security audits and monitors transactions in real-time.

All LemFi transactions are encrypted using TLS technology. One-time-password (OTP) and user verification are necessitated for transactions. LemFi monitors accounts for suspicious activities.

What is the maximum amount you can transfer with Mukuru?

If you registered with a South African ID on Mukuru, you can send up to R1,000,000. Customers registered with a foreign ID can send up to 12 times their monthly income– this is based on proof of income. 

What is the maximum amount you can transfer with LemFi?

LemFi has some value-wise restrictions on money transfers to China, owing to Chinese government regulations. You can spend a maximum of USD 1000 on the LemFi card each day. There are also daily, weekly and monthly transaction limits on LemFi accounts. 

What details does Mukuru require for a money transfer?

In order to send money through Mukuru, you need the following details:

a) Name, address and the contact details of your recipient

b) The amount you’d like to transfer

c) The payout method for your recipient

Depending on where you live, you can choose your preferred method of payout i.e. Mukuru’s app, Whatsapp or physical payment partner. 

What details does LemFi require for a money transfer? 

To send money using LemFi, you need the following details:

a) Name, address and your recipient’s contact details

b) The transaction amount and currencies you’d like to send/receive

c) The chosen payout method for your recipient

Once, you have these details, you can transfer the money using LemFi’s app or by logging in to their website. You will need to authorise the payment using your confirmation pin.

How can I contact Mukuru?

You can get in touch with Mukuru at support@mukuru.com or via their WhatsApp contact (+44 20 7183 0052). You can call their help desk on the same number. Alternatively, you can reach out to any of Mukuru branches nearby. 

How can I contact LemFi?

LemFi can be contacted at support@LemFi.com or their dedicated phone channels (Great Britain: +44 2045795921). Alternatively, you can reach them on their social pages.

Sources

Mukuru Sources

Trustpilot Mukuru Review

Mukuru How it works

Mukuru Terms of use

LemFi Sources

TrustPilot LemFi overview

LemFi International money transfer

LemFi Questions about money transfers

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