Our approach to fees is simple. We believe in:

- Radical transparency: We’ll always be upfront with any associated charges
- Honest pricing: Our fees are a combination of covering the costs associated with the service plus a small amount on top that we can reinvest to improve the business

<figure class="table"><table><tbody><tr><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Currency</td><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Payment Method</td><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Cost</td></tr><tr><td style="text-align:center;" rowspan="2">Trading fees</td><td style="text-align:center;vertical-align:top;">Securities</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">Fractional shares</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;" rowspan="4">Account fees</td><td style="text-align:center;vertical-align:top;">Opening a multi-currency account</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">EUR and GBP account details</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">Securities Custody</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">W8-BEN (US tax form) filing</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;" rowspan="3">Transfer fees</td><td style="text-align:center;vertical-align:top;">Bank transfer in</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">Bank transfer out</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;">Debit card, Apple Pay, Google Pay</td><td style="text-align:center;vertical-align:top;">First £500 lifetime free, 0.5% after</td></tr><tr><td style="text-align:center;">Foreign Exchange (FX)</td><td style="text-align:center;vertical-align:top;">FX trading (FX conversion is based on the spot exchange rates available to us)</td><td style="text-align:center;vertical-align:top;">0.35% of the currency exchanged</td></tr></tbody></table></figure>

**Applicable taxes:**

**Financial Transaction Tax**

A financial transaction tax (FTT) is when a percentage of the asset's value is paid in taxes when traded. FTTs usually apply only to select financial instruments and often have varying tax rates depending on the asset type.

**Stamp duty**

Stamp duty is the tax governments place on legal documents, usually in the transfer of assets or property.

These taxes apply to anyone who is trading the applicable asset, irrespective of if you are a tax resident of that jurisdiction or not.

<figure class="table"><table><tbody><tr><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Tax jurisdiction</td><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Type of tax</td><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Applicable to</td><td style="background-color:#ffded3;">Amount</td></tr><tr><td style="text-align:center;">France</td><td style="text-align:center;">FTT</td><td style="text-align:center;vertical-align:top;">The French Financial Transaction Tax<br>(FFTT) will be applied to shares of companies whose head office is located in France and whose market capitalisation exceeds EUR 1 billion.&nbsp;</td><td style="text-align:center;">0.3% on buy orders</td></tr><tr><td style="text-align:center;">Italy</td><td style="text-align:center;">FTT</td><td style="text-align:center;vertical-align:top;">Italian Financial Transaction Tax (IFTT) will be applied to the transfer of the legal ownership of the shares of any category issued by Italian joint stock corporations (società per azioni and società in accomandita per azioni).</td><td style="text-align:center;">Pursuant to local applicable legislation</td></tr><tr><td style="text-align:center;">Portugal</td><td style="text-align:center;">Stamp duty</td><td style="text-align:center;vertical-align:top;"><p>Service fees in Portugal are subject to &nbsp;Stamp Duty*. The Stamp duty percentage is calculated from the fees paid to Lightyear by a customer. Currently, it is calculated from the conversion fee of a transaction and is paid to the Portuguese Tax Authorities (“PTA”) by Lightyear.</p><p><i>*paid by Lightyear</i></p></td><td style="text-align:center;">4%</td></tr><tr><td style="text-align:center;">United Kingdom</td><td style="text-align:center;">Stamp duty</td><td style="text-align:center;vertical-align:top;">Stamp Duty Reserve Tax (SDRT) will be applied when you buy existing shares in a company incorporated in the UK, shares in a foreign company that has a share register in the UK and rights arising from such shares.</td><td style="text-align:center;">0.5% on buy orders</td></tr></tbody></table></figure>

Overview of our pricing and potential local taxes

<figure class="table"><table><tbody><tr><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Currency</td><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Payment Method</td><td style="background-color:#ffded3;text-align:center;vertical-align:top;">Cost</td></tr><tr><td style="text-align:center;" rowspan="2">Trading fees</td><td style="text-align:center;vertical-align:top;">Securities</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">Fractional shares</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;" rowspan="4">Account fees</td><td style="text-align:center;vertical-align:top;">Opening a multi-currency account</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">EUR and GBP account details</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">Securities Custody</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">W8-BEN (US tax form) filing</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;" rowspan="3">Transfer fees</td><td style="text-align:center;vertical-align:top;">Bank transfer in</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;vertical-align:top;">Bank transfer out</td><td style="text-align:center;vertical-align:top;">Free</td></tr><tr><td style="text-align:center;">Debit card, Apple Pay, Google Pay</td><td style="text-align:center;vertical-align:top;">First €500 lifetime free, 0.5% after</td></tr><tr><td style="text-align:center;">Foreign Exchange (FX)</td><td style="text-align:center;vertical-align:top;">FX trading (FX conversion is based on the spot exchange rates available to us)</td><td style="text-align:center;vertical-align:top;">0.35% of the currency exchanged</td></tr></tbody></table></figure>

Fees and taxes

Read more about managing your Lightyear multi-currency account

Managing your Lightyear multi-currency account

Deposits, conversions & withdrawals

_NB! The protections mentioned in this article do not cover poor investment performance. It’s important to always remember that markets may go up or down, so you should never invest more than you can afford to lose._

Trusting us with your investments is not something we take for granted. Lightyear Europe AS is a licenced investment firm and as such is bound by strict regulatory obligations in how we handle and protect your assets. We do this via a process known as safeguarding.

Safeguarding means that, by law: 
1. your assets are stored separately from our business funds with regulated and reputable UK, EU and US credit institutions or custodians
2. these assets are inaccessible by our creditors in the unlikely event of Lightyears insolvency

### Are Lightyear customers covered by EU wide asset guarantee schemes?
Yes, should Lightyear Europe default, all our customers have their assets covered up to the amount of 20,000 EUR by the Estonian Investor Protection Sectoral Fund. Read more about this fund [here](https://www.tf.ee/eng/protection-of-investors/#level_of_comp).


### Am I covered by the Securities Investor Protection Corporation (SIPC) protection in the US?
Your US securities are held with our partner Alpaca, who is [FINRA](https://www.finra.org/about/firms-we-regulate/firms-we-regulate-a) regulated and a [registered](https://www.sipc.org/list-of-members/?query=alpaca) member of the SIPC. This means your US securities are protected up to the value of $500,000 should Alpaca fail. You can read more about this directly on the [SIPC website](https://www.sipc.org/for-investors/investor-faqs#questions-about-brokerage-firms).

### Do UK users benefit from Financial Services Compensation Scheme (FCSC) protection?
Lightyear customers are not covered by FSCS protection. Access to FSCS protection will be reviewed once Lightyear is directly authorised by the FCA.


_NB! The protections mentioned in this article do not cover poor investment performance. It’s important to always remember that markets may go up or down, so you should never invest more than you can afford to lose._

Trusting us with your investments is not something we take for granted. Lightyear Europe AS is a licenced investment firm and as such is bound by strict regulatory obligations in how we handle and protect your assets. We do this via a process known as safeguarding.

Safeguarding means that, by law: 
1. your assets are stored separately from our business funds with regulated and reputable UK, EU and US credit institutions or custodians
2. these assets are inaccessible by our creditors in the unlikely event of Lightyears insolvency

### Are Lightyear customers covered by EU wide asset guarantee schemes?

Yes, all Lightyear customers have their assets covered up to the amount of 20,000 EUR by the Estonian Investor Protection Sectoral Fund. Read more about this fund [here](https://www.tf.ee/eng/protection-of-investors/#level_of_comp).

### Am I covered by the Securities Investor Protection Corporation (SIPC) protection in the US?

Your US securities are held with our partner Alpaca, who is [FINRA](https://www.finra.org/about/firms-we-regulate/firms-we-regulate-a) regulated and is a [registered](https://www.sipc.org/list-of-members/?query=alpaca) member of the Securities Investor Protection Corporation (SIPC). This means your US securities are protected up to the value of $500,000 should Alpaca fail. You can read more about this directly on the [SIPC website](https://www.sipc.org/for-investors/investor-faqs#questions-about-brokerage-firms).

How are my assets protected?

You can hold uninvested money on your Personal and Business multi-currency accounts in GBP, EUR and USD that can also earn interest. The amount of interest earned is based on the current _per annum_ (per year) base interest rate — from which we’ll take a transparent 0.75% cut. See our [pricing page](https://golightyear.com/pricing) for the current interest rates.

You’ll start earning interest daily, on the same day as your deposit hits your Lightyear account. We calculate the unpaid interest daily on the available uninvested cash balance of your investment account to five decimal places using the latest Lightyear rate. We then sum and round the unpaid interest amounts to two decimal places. Interest payments will be credited to your Lightyear account on the first of every month, and you can see the interest that you have been paid in the latest version of the Lightyear app and in your statements. Money that’s been reserved for orders or other reasons does not accrue interest, and if you close your account before the next interest payment date, it won’t be paid out.

Please note you’ll be responsible for the appropriate tax reporting and payments, in accordance with your local tax laws. You can opt-out from earning interest by navigating to “Earn Interest” under the Settings page, which will cause any unpaid interest to be forfeited.

Earning interest on your uninvested money does not change the way your money is segregated or safeguarded. We always hold our customers’ uninvested money in segregated client money accounts in regulated and reputable credit institutions, which you can read more about [here](https://golightyear.com/help/deposits-conversions-and-withdrawals/how-are-my-assets-protected). It is important to note that the funds held in your Lightyear account are not equivalent to a bank deposit, and therefore in the unlikely event that all appropriate safeguards fail, funds are ultimately protected by the Investor Protection Sectoral Fund only for amounts up to 20,000 EUR in total across all your multi-currency account balances. Funds are not covered by the Deposit Guarantee Sectoral Fund, as it only covers bank deposits.

We will _**not**_ lend out uninvested money in your investment account. We hold your uninvested money in segregated client money accounts in regulated and reputable credit institutions who pay Lightyear interest on the money we hold with them. We use the interest that they pay us to pay you interest at a transparent rate.

You can hold uninvested money on your Personal and Business multi-currency accounts in GBP, EUR and USD that can also earn interest. The amount of interest earned is based on the current _per annum_ (per year) base interest rate — from which we’ll take a transparent 0.75% cut. See our [pricing page](https://golightyear.com/pricing) for the current interest rates.

You’ll start earning interest daily, on the same day as your deposit hits your Lightyear account. We calculate the unpaid interest daily on the available uninvested cash balance of your investment account to five decimal places using the latest Lightyear rate. We then sum and round the unpaid interest amounts to two decimal places. Interest payments will be credited to your Lightyear account on the first of every month, and you can see the interest that you have been paid in the latest version of the Lightyear app and in your statements. Money that’s been reserved for orders or other reasons does not accrue interest, and if you close your account before the next interest payment date, it won’t be paid out.

For Estonian personal account customers, we’ll automatically withhold your tax and pass it on to the Estonian Tax and Customs Board. If you live elsewhere, please note you’ll be responsible for the appropriate tax reporting and payments, in accordance with your local tax laws. You can opt-out from earning interest by navigating to “Earn Interest” under the Settings page, which will cause any unpaid interest to be forfeited.

Earning interest on your uninvested money does not change the way your money is segregated or safeguarded. We always hold our customers’ uninvested money in segregated client money accounts in regulated and reputable credit institutions, which you can read more about [here](https://golightyear.com/help/deposits-conversions-and-withdrawals/how-are-my-assets-protected). It is important to note that the funds held in your Lightyear account are not equivalent to a bank deposit, and therefore in the unlikely event that all appropriate safeguards fail, funds are ultimately protected by the Investor Protection Sectoral Fund only for amounts up to 20,000 EUR in total across all your multi-currency account balances. Funds are not covered by the Deposit Guarantee Sectoral Fund, as it only covers bank deposits.

We will _**not**_ lend out uninvested money in your investment account. We hold your uninvested money in segregated client money accounts in regulated and reputable credit institutions who pay Lightyear interest on the money we hold with them. We use the interest that they pay us to pay you interest at a transparent rate.

How does interest work?

Oftentimes all the companies we want to invest in aren’t listed on the same exchange nor are they traded in the same currency. This means you may need to be able to convert and hold currencies you don’t normally otherwise need.

This can be a painful and costly hurdle to jump in trying to send and convert your money to the right currency, with others often charging high transaction fees and hidden spreads in conversion rates offered.

This is not true for Lightyear customers. All of our users have access to multi-currency accounts and can hold money in three currencies, GBP, USD and EUR. Where eligible*, you’ll receive your own unique account details for each and be able to instantly convert between them.

These accounts are free. There are no one-off or monthly charges to open them or to deposit, hold and withdraw funds. We charge a transparent fee for conversion and give you the interbank (also known as mid-market) exchange rate.

As we expand our product, we’ll increase the currencies available in our multi-currency accounts as well. 

**See our [“What services do you offer and who is eligible?”](https://golightyear.com/help/getting-verified/what-services-do-you-offer-and-who-is-eligible) article to find out which account details you’re eligible to receive and any associated conversion fees for your region.*

Which currencies can you hold, are there fees

How does your multi-currency account work?

In each region we operate, we have the appropriate regulatory licence and/or permission, and are governed by the relative local regulatory authorities.

If your address is in United Kingdom, Lightyear Financial Ltd administers your Lightyear account. Lightyear Financial Ltd (FRN 955739) is an appointed representative (AR) of RiskSave Technologies Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 775330, FCA). Lightyear is registered in England and Wales (No. 12925823), at 42-46 Princelet Street, London E1 5LP. 

You can find us listed as an AR directly on the FCA website [here](https://register.fca.org.uk/s/firm?id=0014G00002o1XlOQAU).

Broker services are provided by Lightyear Europe AS. Lightyear Europe AS (Lightyear Europe) is authorised and regulated as an investment firm by the Estonian Financial Supervision Authority (Finantsinspektsioon, FSA) under activity licence number 4.1-1/31. Lightyear Europe is a company registered in Estonia with company number 16235024 and registered office at Volta 1, Tallinn 10412, Estonia.

You can find us listed as a licenced investment firm directly on the FSA website [here](https://fi.ee/en/investment-market/investment-firms-0/investment-market/licenced-investment-firms-estonia/lightyear-europe).

In each region we operate, we have the appropriate regulatory licence and/or permission, and are governed by the relative local regulatory authorities.

For customers with addresses in the European Union, Lightyear Europe AS (Lightyear Europe) is authorised and regulated as an investment firm by the Estonian Financial Supervision Authority (Finantsinspektsioon, FSA) under activity licence number 4.1-1/31. Lightyear Europe is a company registered in Estonia with company number 16235024 and registered office at Volta 1, Tallinn 10412, Estonia.

You can find us listed as a licenced investment firm directly on the FSA website [here](https://fi.ee/en/investment-market/investment-firms-0/investment-market/licenced-investment-firms-estonia/lightyear-europe).

How is Lightyear regulated

See here for updating your details, logging in or managing your preferences.

Managing my Lightyear account

_**For customers with an address in the United Kingdom who completed signed up on or before 14 September 2022, we've made some changes in your deposit methods, which you'll be able to read more about [here.](https://golightyear.com/gb/help/deposits-conversions-and-withdrawals/change-in-deposit-methods-for-uk-customers)**_

The time it takes for Lightyear to receive funds you send depends on things like:

- The currency you’re sending
- Payment method used
- When the deposit was sent (e.g. banking hours, weekends, bank holidays, etc.)
- The amount

Lightyear doesn’t charge for local bank transfers but there may be fees from your sending bank or for different payment methods. See the relative costs in the table below.

<figure class="table"><table><tbody><tr><td style="background-color:#ffded3;">Currency</td><td style="background-color:#ffded3;text-align:center;">Payment Method</td><td style="background-color:#ffded3;text-align:center;">Estimated time</td><td style="background-color:#ffded3;text-align:center;">Receiving fees</td></tr><tr><td style="text-align:center;" rowspan="4">EUR</td><td style="text-align:center;">SEPA</td><td style="text-align:center;">0 – 2 business days</td><td style="text-align:center;">Free</td></tr><tr><td style="text-align:center;">SEPA instant</td><td style="text-align:center;">0 -2 hours</td><td style="text-align:center;">Free</td></tr><tr><td style="text-align:center;">Debit card, Apple Pay, Google Pay</td><td style="text-align:center;">Instant</td><td style="text-align:center;">First £500 lifetime free, 0.5% after</td></tr><tr><td style="text-align:center;">SWIFT</td><td style="text-align:center;">3 – 5 business days</td><td style="text-align:center;">Free*</td></tr><tr><td style="text-align:center;" rowspan="5">GBP</td><td style="text-align:center;">FPS&nbsp;</td><td style="text-align:center;">0 -2 hours</td><td style="text-align:center;">Free</td></tr><tr><td style="text-align:center;">CHAPS</td><td style="text-align:center;">1 business day</td><td style="text-align:center;">Free*</td></tr><tr><td style="text-align:center;">Debit card, Apple Pay, Google Pay</td><td style="text-align:center;">Instant</td><td style="text-align:center;">First £500 lifetime free, 0.5% after</td></tr><tr><td style="text-align:center;">SWIFT</td><td style="text-align:center;">3 – 5 business days</td><td style="text-align:center;">Free*</td></tr><tr><td style="background-color:#e5e5e5;text-align:center;">BACS</td><td style="background-color:#e5e5e5;text-align:center;" colspan="2">Not Supported</td></tr><tr><td style="background-color:#e5e5e5;text-align:center;">USD</td><td style="background-color:#e5e5e5;text-align:center;" colspan="3">Not supported yet</td></tr></tbody></table></figure>

**While Lightyear charges no fees for receiving bank transfers in, there may be some sending fees charged by your sending financial institution, it’s always best to clarify directly with them before sending if unsure. Read more about SWIFT transfers [here](https://golightyear.com/eu/help/deposits-conversions-and-withdrawals/swift-payments).*

The time it takes for Lightyear to receive funds you send depends on things like:

- The currency you’re sending
- Payment method used
- When the deposit was sent (e.g. banking hours, weekends, bank holidays, etc.)
- The amount

Lightyear doesn’t charge for local bank transfers but there may be fees from your sending bank or for different payment methods. See the relative costs in the table below.

<figure class="table"><table><tbody><tr><td style="background-color:#ffded3;">Currency</td><td style="background-color:#ffded3;text-align:center;">Payment Method</td><td style="background-color:#ffded3;text-align:center;">Estimated time</td><td style="background-color:#ffded3;text-align:center;">Receiving fees</td></tr><tr><td style="text-align:center;" rowspan="4">EUR</td><td style="text-align:center;">SEPA</td><td style="text-align:center;">0 – 2 business days</td><td style="text-align:center;">Free</td></tr><tr><td style="text-align:center;">SEPA instant</td><td style="text-align:center;">0 -2 hours</td><td style="text-align:center;">Free</td></tr><tr><td style="text-align:center;">Debit card, Apple Pay, Google Pay</td><td style="text-align:center;">Instant</td><td style="text-align:center;">First €500 lifetime free, 0.5% after</td></tr><tr><td style="text-align:center;">SWIFT</td><td style="text-align:center;">3 – 5 business days</td><td style="text-align:center;">Free*</td></tr><tr><td style="text-align:center;" rowspan="5">GBP</td><td style="text-align:center;">FPS&nbsp;</td><td style="text-align:center;">0 -2 hours</td><td style="text-align:center;">Free</td></tr><tr><td style="text-align:center;">CHAPS</td><td style="text-align:center;">1 business day</td><td style="text-align:center;">Free*</td></tr><tr><td style="text-align:center;">Debit card, Apple Pay, Google Pay</td><td style="text-align:center;">Instant</td><td style="text-align:center;">First €500 lifetime free, 0.5% after</td></tr><tr><td style="text-align:center;">SWIFT</td><td style="text-align:center;">3 – 5 business days</td><td style="text-align:center;">Free*</td></tr><tr><td style="background-color:#e5e5e5;text-align:center;">BACS</td><td style="background-color:#e5e5e5;text-align:center;" colspan="2">Not Supported</td></tr><tr><td style="background-color:#e5e5e5;text-align:center;">USD</td><td style="background-color:#e5e5e5;text-align:center;" colspan="3">Not supported yet</td></tr></tbody></table></figure>

**While Lightyear charges no fees for receiving transfers in, there may be some sending fees charged by your sending financial institution, it’s always best to clarify directly with them before sending if unsure. Read more about SWIFT transfers [here](https://golightyear.com/help/deposits-conversions-and-withdrawals/swift-payments).*

How long do deposits take and what do they cost?

The first thing to do is always check how long it usually takes for your funds to arrive. You can see our estimated processing times under [how long do deposits take and what do they cost?](https://golightyear.com/help/deposits-conversions-and-withdrawals/how-long-do-deposits-take-and-what-do-they-cost)".

If the expected timeframe has been exceeded please don’t hesitate to get in touch with our [support team](mailto:support@golightyear.com). It’s helpful if you attach a proof of payment which has the information we’ll need that will help us trace the payment. 

A proof of payment is a receipt, screenshot, or document from your bank that shows the following information:

- Your full name
- Your bank details
- Receiving bank details
- The date and time the payment was made
- The amount sent
- The currency

If the information isn’t all in one place, you can send 2 documents. Both will need to show the same bank details — that way we know it’s the same account we’re looking at.


My deposit hasn't arrived

If the address on your Lightyear account is in the United Kingdom, you can deposit up to £500 for free by debit card, Apple Pay, and Google Pay with a 0.5% fee after this lifetime limit has been reached. Deposits by these methods are counted in combination towards the lifetime limit. For example, if you’ve deposited £300 by debit card, and £200 by Apple Pay, you’ve reached your lifetime limit. As well, if you go over the free limit within a transaction, we only will charge the fee on the amount over the free limit.

We only accept personal debit cards that:

- Are in the name of the Lightyear account holder
- Have a Visa or Mastercard logo
- Have 3DSecure (Verified by Visa or Mastercard Securecode) active
- Are issued in the same country as the address on your account
- Are not a business, corporate, or prepaid card

You can’t cancel deposits paid by card that have been completed, and any deposited funds can only be withdrawn to a bank account you’ve successfully deposited from previously.


If the address on your Lightyear account is in the European Economic Area (EEA), you can deposit up to €500 fee-free by debit card, Apple Pay, and Google Pay with a 0.5% fee after this lifetime limit has been reached. Deposits by these methods are counted in combination together towards the lifetime limit. For example, if you’ve deposited €300 by debit card, and €200 by Apple Pay, you’ve reached your lifetime limit. As well, if you go over the free limit within a transaction, we only will charge the fee on the amount over the free limit.

We only accept personal debit cards that:

- Are in the name of the Lightyear account holder
- Have a Visa or Mastercard logo
- Have 3DSecure (Verified by Visa or Mastercard Securecode) active
- Are issued in the same country as the address on your account
- Are not a business, corporate, or prepaid card

You can’t cancel deposits paid by card that have been completed, and any deposited funds can only be withdrawn to a bank account you’ve successfully deposited from previously.


Paying by card

**What are SWIFT payments?**

SWIFT stands for “Society for Worldwide Interbank Financial Telecommunications”. Also known as an “international transfer” or an “international wire”, SWIFT payments are commonly used to send money across the globe.

While SWIFT payments come with the convenience of being able to send your funds to almost anywhere in the world, they come with some additional fees and usually take a bit longer to reach their destination.

**How much does SWIFT cost?**

Your bank will likely charge a fee for sending funds to your Lightyear account via SWIFT. This fee generally varies from 15-50 EUR/GBP/USD per transaction but it’s best to check directly with your bank before making the payment.

There’s a chance that your bank will use intermediary banks to complete a SWIFT payment and those intermediaries may have their own additional fees. It’s best to also clarify if this is applicable with your bank before sending. 

Lightyear doesn’t charge any fees for receiving SWIFT payments but if there are intermediary fees it’s likely we’ll receive less than you originally sent.

**How long do SWIFT payments take?**

Generally speaking, once sent, SWIFT payments take 2-5 business days to arrive. Please note that this can vary depending on where you’re sending the payment from. Your bank may have a better estimate on delivery times.


What are they, how much does it cost and how long does it take

SWIFT payments

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