To send Euros or British Pounds, follow these simple steps:

1. On the homepage, click over the “Send” icon located on the left panel in your home screen.
2. Select the currency you would like to send.
3. Choose the Recipient of this transaction whether it’s a personal or a business bank account. (When entering new recipients, please be aware to enter their full First and Last name, business name and the correct bank details. If there is a mistake in one of these fields, the transaction may fail).
4. Choose the amount you would like to send. Please note the minimum amounts required.
5. Confirm your transaction.
6. Validate the request by entering the received code sent to the account’s registered email address.
7. All done! The transaction is now in progress.

The total amount available to send shown in the  Web-App, is your total balance minus the fees. Therefore, the maximum amount you can send is the amount shown in the  Web-App with the fee deducted from your total balance.

Please also keep in mind that your available balance needs to meet the required minimum withdraw amount.

Euros – Minimum Value: 1€

British Pounds – Minimum Value: £1

To receive Euros or British Pounds, follow these simple steps:

1. On the homepage, click over the “Receive” icon located below your general account balance.
2. Select the desired traditional currency you would like to receive.
3. Share your Lama account details to the sender.

The minimum withdrawal amounts for traditional currencies are the following:

Euros – Minimum Value: 1€

British Pounds – Minimum Value: £1

You cannot withdraw less than these amounts.

Please note that it can take up to 3 days to receive your funds. Although Lama offers instant SEPA services, your recipient bank account for withdrawal may not be a SEPA instant bank account. In this case, a SEPA credit transfer can take a few hours and up to 3 business days to clear.

You do not need to contact support if your transaction request has been sent less than 3 business days ago.

Currently the fees are applied on traditional currencies withdrawals based on the selected Lama account plan. For your reference, see below the fee that apply on EUR and GBP (coming back soon) outgoing transactions per plan:

• Lama Classic: 1% in EUR or GBP withdrawals.
• Lama Classic Plus: 50% in EUR or GBP withdrawals.
• Lama Suri: 0% in EUR or GBP withdrawals.
• Lama Vicuna:0% in EUR or GBP withdrawals.

Your Lama Business account balance will be updated once the funds have reached your account and cleared.

If after the estimated timeframe provided by the sender’s bank you still have not received the transfer, you may need to contact them to confirm if:

– Their transfer matches your account details.

– They sent it to your correct currency account details.

– The funds have been returned to them.

If it has been more  than 3 business days, you may contact our support team. Remember to include the full name, email address and phone number associated with your Lama account.

You can easily locate your most recent transactions in the  Web-App, whether they are sent or received:

1. Open your Lama Web-App.
2. Click over the ‘Activity’ option located on your left panel.
3. Locate the transaction you would like to confirm the status of.
4. There you’ll see the status of your transaction, which could be any of the following:

If sending:

Lama Verifying: The transaction has been verified by Lama. Lama has debited your account, but the transaction has not been processed yet. While your transaction is still being verified by Lama you can cancel your transaction.

Leaving for recipient’s bank: The transaction is being processed by the traditional financial network and is now leaving Lama. While your transaction is leaving Lama you can cancel your transaction.

Sent to recipient’s bank: The transaction has been transferred by the traditional financial network and is considered as being completed. Once the transaction has been sent to recipient’s bank you can no longer cancel the transaction.

Cancelled: You have cancelled the transaction. The money is back to your Lama Account.

Failed: Something happened on the traditional financial network preventing your transaction to be sent. Please check the details of the transaction again or contact support for more information.

If receiving:

Receiving: A bank transfer is arriving in your account. The money is not available on your account yet.

Received: The funds are cleared; the money has been credited to your account and you can use it.

To process a transaction, it can take up to 3 days for the financial traditional network. Among other factors, this is due to the type of recipients you are transferring money to. For instant SEPA credit can take a few hours and up to 3 business days for traditional SEPA network.

Please do not contact support if you have sent your transaction less than 3 business days ago.