This review of Lumon, Lumo Pay or Foreign Currency Direct (the brand’s prior identity) is intended to explain the pros and cons of Lumon for personal, business and institutional money transfer needs. We focus on the important aspects like Lumon’s fees and exchange rates, licensing and regulation, feedback from existing customers, and the level of service Lumon provides. To view other companies like Lumon, check our top money transfer companies list.
Should I use Lumon for money transfers?
Is Lumon Safe to Use?
Services Offered by LumonPay
Not Top 10 Ranked
Where is Lumon Money Transfer Available?
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- Min Transfer: £/€/$ 100
- Currencies Supported: 39
- Offices : UK, EU, USA, India, South Africa.
- Our Rating : 97.8%
- Most Global Offices and Reach
No Fees from Anywhere and Competitive Rates
96% Client Satisfaction
- Min Transfer: £/€ 100
- Currencies Supported: 40
- Offices : UK, EU, Singapore, and Australia.
- Our Rating : 93.4%
- High Quality Bespoke Service
MoneyFact's Best Provider Award
Over 100 Years of FX Experience Across Its Trading Desk
- Min Transfer: £/€/$ 50
- Currencies Supported: 120
- Offices : UK, EU, Australia, USA, HK, UAE, and South America.
- Our Rating : 92.8%
- Business Oriented, Many High Profile Business Customers
Industry Veteran since 1979
Diverse Hedging Options and Excellent Guidance
Lumon / Foreign Currency Direct FAQ
Lumon Money Transfer Summary
- Credibility Score - 70%70%
- Client Feedback - 90%90%
- Fees, Exchange Rates - 70%70%
- Global Reach, Availability, Service - 50%50%
- Added Values - 60%60%
Lumon, formerly Foreign Currency Direct/Currencies.co.uk is a solid currency provider, offering a wide variety of hedging functionality that should be able to cover any FX requirements a customer may have.. Whilst recent acquisitions have tripled the size of the business, the firm is still not particularly global, with a heavy focus still on the UK & Europe for now.
Due to its long history as Foreign Currency Direct, the firm has over 20 years of experience in FX and thousands of positive customer reviews attesting to a good experience. . This suggests they are trustworthy and from our own experience they also showed a good level of transparency by collaborating with us, as well. Though it’s worth pointing out the majority of positive reviews are largely from when the firm operated solely as Foreign Currency Direct.
One thing to look out for is how well the firm performs given the rapid, non-organic growth driven by three acquisitions in the last two years. We’re not saying this is definitely a problem but mergers and acquisitions are usually accompanied by process changes, tech integrations and management shuffles. The products and capabilities are there for Lumon to make big moves in the industry but the rebrand and new structure is just a little too new for us to recommend right now.