To send Euros follow these simple steps: 

1. On the homepage, tap over the “Send” icon located below your general account balance.
2. Select the currency you would like to send. 
3. Choose the Recipient IBAN of this transaction (Please make sure to enter your name correctly as listed in your external account, otherwise the transaction may fail).
4. Choose the amount you would like to send. Please note the minimum amount required. 
5. Confirm your transaction.

The total amount available to send shown in the app, is your total balance minus the fees. Therefore, the maximum amount you can send is the amount shown in the 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€

Please consider that within Lama EUR transactions can only be processed from or to an account under your name. For example, Mary Smith can only transfer to a Mary Smith account.

Currently, external EUR transactions are only allowed between your personal accounts, which should be registered under your name as it has been verified with Lama.

To receive Euros, follow these simple steps: 

1. On the homepage, tap over the “Receive” icon located below your general account balance.
2. Select the EUR account. 
3. Copy your Lama account details in your external bank account.
4. You should now be able to send EUR to your Lama IBAN.

The minimum withdrawal amount for EUR is the following:

Euros – Minimum Value: 1€

You cannot withdraw less than this amount.

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.

The fees for EUR withdrawals to external IBANs are variable and will mainly depend on your Lama account plan, applicable fees for your transaction will be displayed on your screen before you submit the transaction.

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

If after the estimated timeframe provided by your 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 at support@mylama.eu. Remember to include the full name, email address and phone number associated with your Lama account.

Your Lama IBAN address is the following: 122/123, Pangea, Level 5, Triq San Gorg, St. Julians, STJ 3204, Malta.

You can see your IBAN number in the Lama App following these simple steps: 

1. Make sure you have created and verified your account.
2. Open the Lama app and sign in to your account. 
3. Once at the home screen, scroll down to the ‘Accounts’ section and locate the Euro Currency. 
4. Tap over EUR and your IBAN information will now be visible.

No, once you create your IBAN number it cannot be modified.

No. An International Bank Account Number (IBAN) is unique to each account. This means that every account has its own IBAN, and every IBAN corresponds to a single account.

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

1. Open your Lama app. 
2. Tap over the menu located in the upper right corner of the screen. 
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 the recipient’s bank you can no longer cancel the transaction. 

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

   Failed: Something happened on the traditional financial network preventing your transaction from being sent. Please check the details of the transaction again or contact support at support@mylama.eu 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.

Please note that currently within our services you cannot send or receive EUR to other friends who have a Lama account. But keep in mind that you have all crypto transactions enabled to continue enjoying our benefits.

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.