Lycaremit is a trading name of Lycamoney Financial Services Ltd (http://lmfsltd.com), a company incorporated
under the laws of England and Wales with registration number 8662355. We are authorised
by the Financial Conduct Authority (FCA) under the Electronic Money Regulations
2011 to provide payment service and issuing electronic money. Our FCA e-money register
number is 900153.
1. Introduction to Lycaremit online money transfer services
1.1. Lycaremit is an online money remittance services that include money transfer
services ("Lycaremit”) ("We" or "Us"). These Terms and Conditions, along with the
terms in your online form (“Online Form”) constitute the entire agreement ("Agreement")
between Us and You, being the individual registered user of the Services ("You"
1.2. This Agreement allows you to transfer money ("Transfer") to the person named
on the Online Form ("Recipient ") and allows them (i) to collect in cash at a designated
location; or (ii) to receive the money into their bank account or other type of
physical or virtual account, including a mobile wallet account. These terms and
conditions apply to both services except otherwise stated.
1.3. In order to use the Service for the first time, you must register by entering
your personal information, a "User ID" (which is your email address and is used
for identification purposes to login to your Profile) and secure password. For any
subsequent Transfers you make you can use your existing Profile using your User
ID and password to login. All information provided by you shall be stored in your
Profile, and shall be maintained by Us or Our "Subcontractors” or “Service Providers".
1.4. By using, or attempting to use, the Lycaremit Services in any capacity, you
acknowledge that you (i) accept the terms of this Agreement and (ii) have read all
terms relating to the Transfer and all information as described in the Online Form.
You must indicate your consent to this Agreement by ticking "I have read and agree
to the terms and conditions "box prior to clicking "submit" ensuring all sections
have been fully and accurately completed. If you do not, we may not be able to send
the money. You must call us if any of the information you provide changes before
the Recipient collects or receives the money.
1.5. You cannot send a Transfer on behalf of a third party.
1.6. For online to cash transfers, you can either send the money within the same
country or to a different country "Receive Country". The Recipient can only collect
the money in the Receive Country and at the designated point of sale, as stipulated
by you in submitting the transaction. Once your Transfer has been accepted by Us
and your money has been taken by Us, the Recipient can collect the money at any
Lycaremit point of sale in the Receive Country within the opening hours of the point
of sale, in cash, in the currency stipulated in Your transaction. We will not contact
the Recipient when the money is ready to collect, so this is something you will
need to do. We will of course inform you when the money is ready to be collected.
1.7. We may communicate with you electronically (for example, by email) unless we
are required by law or regulatory requirements to communicate in another way. If
you do not wish to receive communications electronically, you may not use our Lycaremit
1.8. You agree to promptly update your records if your email address or other contact
information in your Profile changes (otherwise we may write to you using an old
address). Log in and follow the instructions online to update your Profile.
2. Using Lycaremit Services
2.1 You agree to use the Lycaremit Services only for bona fide and lawful purposes.
You may not use the Lycaremit Services to conduct any illegal activity. We have
the right to terminate your Profile and to stop (or reverse) any Transfer if we
reasonably believe, you or the Recipient are using the Lycaremit Services for any
illegal purpose or if: (a) your debit card payment is blocked or reversed; (b) the
Transfer would be unlawful or break this Agreement. You agree that neither Lycamoney
Financial Services Limited or any Agent or Service Provider will be held responsible
or liable to you or any other person for such action except as required by law or
2.2 We may report suspicious activity to appropriate law enforcement organisations
or other government agencies.
3. Offers & Promotions 4. Fees and Currency Conversions
We may provide offers and promotions from time to time, please check applicable
terms and conditions for any offer or promotion.
3.1. *Zero fees on money transfer offer available until 31/12/16.
3.2. **Free £5 Lycamobile credit is valid only for customers who send a minimum
of £300 in a single transaction (this offer is valid only once per customer, per
calendar month). When you register with Lycaremit, you will need to provide us with
your Lycamobile number then once you have made your transaction of over £300, you
will receive the £5 Credit on your provided Lycamobile number for that particular
month. Offer available until 31/12/16.
3.3. Exchange rates are subject to change & shall be applied at the time of your
4.1. You must pay us the fee charged to you to complete a Transfer as stated in
the Online Form. You will not be charged any other fee for the Transfer by us. For
each Transfer you initiate, you authorise us (or any one authorised by us) to take
payment from your debit card for the Transfer amount, plus a fee, calculated in
accordance with Lycaremit fees & conversion charges, that may be charged to you
for submitting the Transfer ("Consumer Fee"). Please note than in addition to the
Consumer Fee applicable to a Transfer, a currency exchange rate may also be applied
4.2. If you are paying by debit card and there are insufficient funds in your account,
your financial institution may charge you a fee and your bank may also allow the
payment by way of an unauthorised overdraft on your account and charge a fee and
4.3. The financial institution that provides you with your debit card may impose
fees in connection with your payment for a Transfer. Fees imposed by your financial
institution or by any other person not directly a party to the Transfer, such as
the Recipient's financial institution, will not be reflected in information regarding
the Transfer that you can print ("Receipt") for your Transfer. In addition, it is
possible that other taxes or costs may apply to the Transfer that are not imposed
by us or paid through us. It is not the Our responsibility to pay any levies or
fees imposed by other institutions.
4.4. You are responsible for our reasonable costs and losses if we make a Transfer
and we are unable to collect payment for the Transfer from your debit card, or that
payment is later reversed by your card provider or bank. However you will not be
responsible if you tell us that the payment was not authorised by you, unless: (a)
You may have acted fraudulently; or (b) you did not tell us in accordance with condition
11 that your Profile security details had been or might be misused before the payment
was made, You may have been grossly negligent in not keeping those details safe.
4.5. If you are not liable for a payment, and we cannot collect it from your bank,
debit or credit card, or the payment is reversed, we will have no further liability
4.6. You can only send money in a certain currency or currencies. The calculator
(which you can access before each Transfer and at any time before you confirm the
Transfer) will specify which pay out currency is available in the Receive Country
and (if different to the currency in which you pay us) what exchange rate will apply.
Your chosen currency, the agreed exchange rate and the converted amount will be
stated in the Online Form and in the Receipt.
4.7. For online to cash Transfers to a Receive Country outside of the European Union,
Norway, Iceland and Liechtenstein ("EEA"): (i) if the Transfer amount is stated
in U.S. Dollars, and the Recipient's Agent does not pay out in that currency, they
will convert the money into the local currency using either their or Lycaremit’s
exchange rate; (ii) if the money (whatever foreign currency it is sent in) is not
collected within 45 days, the Recipient's Agent may recalculate the converted amount
at the time of collection, using their or Lycaremit exchange rate.
5. Restrictions on Transfers
5.1. There are limits on how much you can send. We will, as necessary, tell you
what they are. We may refuse to send the money or allow it to be collected if we
reasonably believe that: (a) by doing so we might break any law, regulation, code
or other duty that applies to us; (b) doing so may expose us to action from any
government or regulator; or (c) it may be linked with fraudulent or illegal activity.
Maximum Send Amount per Transaction - 2200 – GBP. We reserve the right to request
at any time further information or documentation from you in order that you can
continue to use the Lycaremit Service.
5.2. Unless the law prevents us, you can call us so that we can tell you the reasons
for our refusal and how you can put right any errors that led to our refusal. If
you prefer (and the law allows), or if the law requires, we will return the money
5.3. Maximum cash pay-out amounts may apply from country to country and form time
time to time subjected to the laws of the country and also the external point of
sale policy. If You want to Send an amount exceeding this limit We may be able to
pay the rest by cheque if the amount is within the Transaction limit but exceeds
the cash pay-out limit of the country. We can advise You before You submit Your
6. Cancelling and Refunding a Transfer
6.1. If you wish to cancel a Transfer, you can call us and request a refund of the
Transfer amount. Where possible please enclose a copy of your receipt. We aim to
process such requests promptly but in any case within 30 days.
6.2. If you cancel a Transfer, we will generally reimburse any payments which you
made to us before exercising your right of cancellation, but: (a) we may not reimburse
the Consumer Fee as a reflection of the costs already incurred by us except when
the cancellation is due to an error by Lycamoney Financial Services Ltd; or (b)
we will not reimburse you if we have paid the Receive Amount to the Recipient before
we get your notice of cancellation.
6.3. For an online to cash Transfer, if the Transfer was not made properly or did
not arrive, we will refund the Transfer amount and the Consumer Fee if appropriate
after investigating the circumstances surrounding the execution of the Transfer.
6.4. We will not be liable where you have not met your obligations in condition
8.3 and the money is paid to someone who gave the Agent what it reasonably believed
to be valid identification for the Recipient ("Identification"). Identification
will typically comprise a passport or other government issued identification document
(the requirements differ depending on the Receive Country and you can find out what
the requirements are from an Agent or via the "Customer Service / Contact Us" link
on our website at www.lycaremit.co.uk
6.5. We will not refund you if we are not liable under clause 12 and 13 below.
7. Receiving a Transfer
7.1. A Transfer made in conjunction with the initial application for a Profile will
be delayed until your identity and funding information has been fully confirmed
7.2. Due to circumstances beyond our control such as exchange control regulations
of the Receive Country, Transfers to certain destinations may be subject to delay
or to restrictions imposed under the laws of the Receive Country.
8. Identification and Pay out for online to cash Transfers
8.1. Identification and Pay out for online to cash Transfers 8.1. In order to collect
the money and complete a Transfer, the following must be provided: (i) Identification;
(ii) the Recipient's details from the Online Form, (iii) Sender’s name and the (iv)
8.2. For certain Transfers (depending on the Receive Country and Transfer amount),
the Lycaremit reference number given to You may also be required to collect the
8.3. You must not give details referred to in condition 7.1 or (if they are required
to collect the money) in condition 7.2 to anyone other than your chosen Recipient.
You must do all you reasonably can to make sure no one else can obtain them - for
example, by (i) not letting anyone see the Online Form; (ii) the Lycaremit reference
number in a way that can be recognised, nor letting anyone overhear you tell the
Recipient what they are; and (iii) not trusting a person (other than the Recipient)
who tries to assure you it is safe to disclose some or all of those details to them.
9. Additional conditions for online to account Transfers
9.1. We will send the money to the bank account you specify on the Online Form.
If the account held is in the EEA is other than in Euro or is a Euro account in
the EEA, the account provider (e.g. bank) will receive the money within 1 business
day (being Monday to Friday, but not public holidays) after you asked us to send
it. Otherwise the account provider will receive the money within four business days
after you asked us to send it. The account provider is required by law to put the
money into the Recipient's account as soon as it receives it.
9.2. Banking practices may vary if you send money to a non-EEA currency account
or to an account outside the EEA- for more information on when a payment will be
credited to such an account, you need to contact the Recipient's account provider.
The Recipient's account provider may apply its own charges to the Transfer, which
do not involve us.
9.3. If you ask us to send money to an account and the Transfer was not made properly
or never arrived, we will promptly refund your money and our fee - unless we can
show that the account provider received the money or that there was a mistake in
the Recipient's account details that you gave us. In such cases a minimum fee of
£25 will be charged to the Sender of the transfer.
10. Other Sub-contractor products
In addition to their offering of our services, agents or subcontractors may offer
You their own products or services. These additional products or services are separate
and independent from our Services, and do not involve Us in any way. These additional
products and services are likely to have their own fees associated with them.
11. Records of transfers
Records of your Transfers will be posted in your online Profile section which you
may access at any time by logging in to your account.
12. Your Liability
12.1 You shall be responsible to provide correct and accurate data & update Us on
12.2 You shall be responsible to use the Lycaremit Services for lawful purposes
12.3 You shall be responsible to Send money to only legitimate persons.
12.4 You should regularly check for information about Transfers on our website and
on your debit card statement, and you must contact us immediately at the contact
details given below to make a Transfer through the Lycaremit Services. If you call
us we may ask you to follow up with details in writing within 10 working days.
13. Our Liability
13.1. We will not be liable for any delays or failures (force majeure) caused by
any of the following including without limitation industrial action, problems with
another system or network, mechanical breakdown or data-processing failures; or
(b) our obligations under UK or EU law.
13.2. If you believe a Transfer was not made properly or did not arrive you must
call us or write to Us as soon as you reasonably can enquire into the status of
the Transfer. We will not refund money to You under condition 5.3 or 8.3 if you
unduly delayed telling us about the problem and in any event told Us more than 13
months after sending the money.
13.3. In no circumstances We shall be liable to You for any indirect losses, consequential
losses, business, profits or opportunity loss or any other amounts howsoever arising.
13.4 In the event We are liable to You under this Agreement Our liability to You
shall not exceed the amount You sent under the relevant Transaction.
13.5 Our Lycaremit Services are for persons 18 years of age and over only and may
only be used for a lawful purposes. Please read the fraud warnings on the Online
Form. If you ask us to pay someone who turns out to have defrauded you or who fails
to meet their obligations to you, we will not be liable as a result.
13.6 A person who is not a party to this Agreement shall not have any rights under
the Contracts (Rights of Third Parties) Act 1999 or otherwise to enforce this Agreement.
13.7 Nothing in this Agreement limits our liability should we act fraudulently or
recklessly or otherwise excludes or limits our liability to the extent that we are
unable to exclude or limit by law.
This Agreement constitutes the entire agreement between You and Us regarding the
use of the Lycaremit Services, and supersedes any prior agreements between You and
Us to the extent that they might otherwise apply to the Lycaremit Services. Otherwise,
any such other agreements remain in full effect in accordance with their terms.
14.2. We will report transfers to any government authorities if we are required
to do so by law.
14.3 If a Transfer was not made properly or never arrived, we will investigate and
do what we can to find the destination of the money (and call or write to tell you
of the outcome) if you ask us to. Where there was a mistake in the Recipient's details
you gave us, we will make a reasonable effort to recover the money.
14.4 None of our Lycaremit Services involve You or the Recipient having a deposit
or a banking account with Us.
14.5 This Agreement shall be governed by the laws of England & Wales and the English
courts have non-exclusive jurisdiction for any disputes.
14.6. We may, without notice (except as required by law) and without liability to
you, terminate or suspend your access to the Lycaremit Services at any time, including
without limitation, if: (a) you attempt to Transfer or charge funds from an account
that does not belong to you or from an account which does not have sufficient available
funds or has expired, (b) your financial institution attempts to charge back a Transfer
on the basis of a dispute related to a Transfer; (c) you provide incorrect or false
information about yourself, your debit card details or about a Recipient; (d) you
attempt to tamper, hack, modify or otherwise corrupt the security or functionality
of the Lycaremit Services; (e) we receive conflicting claims regarding ownership
of, or the right to withdraw funds from a debit card account; (f) you have breached
a term or condition of this Agreement, or any representation or warranty that you
make under this Agreement is false; (g) we determine that your Profile is inactive
or inaccurate; (h) we believe that the Transfer may expose us to action from any
governmental or regulatory authority. We may without liability to you, terminate
or suspend your access to the Lycaremit Services at any time and for any reason
by giving you 30 days' notice.
14.7. To close your Profile, contact Customer Service through the Website. If we
close your Profile for any reason, we may, in our sole discretion, cancel your pending
15. Data Protection
15.1. We may process the Recipient's and your personal information and the details
of your Transfer on our systems in order to provide you and the Recipient with the
Lycaremit Services and to prevent fraud. We may also obtain information about you
from reputable reference sources as part of verification processes and other parts
of your relationship with us (including market research, special promotions, and
sending you information about our services) as permitted by applicable law. You
warrant that you have the Recipient's consent to share his personal information
15.2 We may, for the above purposes, share the collected personal information with
our parent, affiliates, agents, or service providers, any of whom may be in a country
other than your own for the purposes of providing the Lycaremit Services. We will
not share the information with anyone else except as permitted or required by law
15.3 We may also use your personal details to contact you by post, telephone, email
or SMS to let you know about the products and services offered by Lycamobile Financial
Services Ltd or our Subcontractor from time to time. You can opt out at any time
if You no longer want to receive any communications from any of our Subcontractors.
15.4. You may request access to your personal information, ask for the information
to be corrected or updated, or withdraw your consent for marketing use at any time
by emailing us at CAML@lycaremit.co.uk
or by calling us on 0207 132 0015 (you may be charged for calls to this number made
by mobile phone). Please allow at least 4 weeks for processing of your request.
15.5. By completing the online form, you agree to our collection, use and Transfer
of your and the Recipient's personal information for the above purposes, including
Transfers to the Receive Country. Our Privacy Statement describes how we collect,
protect, use and disclose your personal information and is available at www.lycaremit.co.uk.
16. Contact Details and Customer Services
16.1. We are committed to ensuring that you receive high quality service from us.
In the event that you are dissatisfied with the Lycaremit Services or believe an
error has occurred with your Transfer, please contact us as soon as possible. For
full details of our complaints procedure or consumer protection advice, or to submit
a complaint, you can:
call us on 0207 132 0015 (you may be charged for calls to this number by mobile
phone) or call free by dialling 305 from your Lycamobile SIM; visit our website
and submit the online form; write an email to
email@example.com ; or write to us at: Customer Services Department,
Lycamoney Financial Services Ltd, Walbrook Building, 195 Marsh Wall, London, E14
16.2. We will deal with your complaint promptly and fairly. We will try our best
to resolve your complaint at the first opportunity. In case we feel we need more
time to resolve your complaint, we will send you an acknowledgement within five
working days and send you a final response letter within 8 weeks of receipt of your
complaint. If you do not receive our final response after 8 weeks or you are unhappy
with our final response, you can write to The Financial Ombudsman Service, South
Quay Plaza, 183 Marsh Wall, London E14 9SR. Phone: 0207 132 0015 Website: www.financial-ombudsman.org.uk
You should do so within 6 months from the date of the final response. Please visit
our website for more details.
16.3. Our contact details for other purposes: our telephone number is 0207 132 0015
(you may be charged for calls to this number by mobile phone) our website is www.lycaremit.co.uk ; our address for writing to us is
Lycamoney Financial Services Ltd International Ltd Walbrook Building, 195 Marsh
Wall, London, E14 9SG and our email address is
We are authorised and regulated by the Financial Conduct Authority. Our Financial
Services Register number is 900153.
18. Intellectual Property Rights
18.1 This web site is © 2014 Lycamoney Financial Services Ltd. All rights reserved.
18.2 The name Lycaremit and other names, trademarks and service marks on this site
are the property of Lycamoney Financial Services Ltd or other third parties and
may not be used or copied without prior written permission from the Lycamoney Financial
Services Ltd Legal Department.
18.3 All communication, postings, and uploads to this site become the exclusive
property of Lycamoney Financial Services Ltd. You may not reproduce, reverse engineer,
disassemble, modify or create derivative works from the site. You may not remove
any copyright, trademark or other intellectual property or proprietary notice or
legend contained on this site or its content.