Send Money to Libya

Western Union
Margin Rate: 4%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
CurrencyFair
Margin Rate: 2%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
VoltrexFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
RationalFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Libya

Send Money Transfer to Libya

The Libyan currency is the Libyan dinar (LYD) and in theory there are no restrictions to sending funds although there are instances of individuals being told there is a US$5,000 annual limit. It is worth asking the service provider if this is a concern. Libya is a cash society with little use made of credit cards or banking in general. Since the overthrow of Gadhafi the Government of Libya does not control significant parts of its own country and its banking sector therefore should be considered fragile.

Should the recipient hold an account in Libya then a wire transfer can be made, most usually in US dollars.

If you want to send cash without using a bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments are found in major cities around the world and some of the major money sending bureaus have establishments in Libya, usually at a desk within the banks. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online. Once this procedure is done, the recipient can pick up the money at another office simply by showing his or her own ID. With the transaction number you receive, you can track the status of your transfer online

Bank Note System
Banknotes: 1, 5, 10, 20, 50 Dinars

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