Get multi-currency accounts in minutes
Get GBP, EUR, XAF IBAN and local accounts in just minutes, with over 70 global account currencies supported. Sending and receiving money from anywhere is now much better, faster and secure.
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Multiple Banks and Currencies
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No credit check
An Affordable Way to Send and Receive Money, Pay or Get Paid
Easily and rapidly move money from country to country, using a choice of 70 different currencies. Our exchange rates are clear, fair, and affordable, making cross-border payment seamless and bearable
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A better way to manage, send and receive money globally
Get multi-currency IBAN accounts, send and receive money globally. Manage your money all in one place, and easily pay or get paid anywhere in the world just like a local.
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Over 70 currencies
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Multiple Banks
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180 Countries
Core Features That Matters
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Send and Receive Like a Local
Accessing your money while travelling doesn’t need to be difficult and excessively expensive. No matter where you are in the world, you can use your Chukzy account to easily make payments, withdraw cash, and much more.
Set Budget and Track Spending
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80+ Section Blocks
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Fully Responsive
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Easy to Customize
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Working PHP Forms
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Better way to spend and save
Spend money without any hidden charges in over 200 countries
We're making Global your Local
Account to send, receive, and spend the world with ease as a local
We're Faster and more Secure
Get your multi-currency accounts in minutes. No paperwork. No credit check.
Send, receive, pay or get paid anywhere
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Send, Receive, Request Money, and Pay or get Paid in multiple currencies without borders. Connect and manage all of your accounts in one financial super app
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Why use Lakoos as your global Bill manager?
Lakoos Bill Manager helps members to organise their global bills and invoices all in one place. Securely automate and pay bills on time and get a better sense of where your money is going.
We're making Global your Local
An account to easily send, receive, and spend across the world as a local.
We're Faster and more Secure
Organise all your bills and schedule bill payments faster and securely.
Better way to spend and save
Spend money without any hidden charges in over 200 countries.
Our latest News and Blogs
Resources to help you succeed in the new era of digital banking ecosystem
Blog | Date: 18 September, 2022 10:11
Consumers Set to have the Most Convenient Experience with International Money Transfers
Did you know that about one billion people
send and receive money internationally in the world? International money
transfers have grown past the $530 billion mark recorded in 2016 and are
expected to reach $630 billion by end of 2022. International money transfer
services are now more accessible than ever.
Traditionally, sending money has been
expensive and arduous with a huge number of middlemen, hidden fees, and massive
manual paperwork. Millions of people who send and receive money abroad every
year experience these tough situations; especially high costs.
Today, financial institutions are offering
more customer-centric solutions. Sending, and receiving money internationally
is easier with more competitive fees and better speed of transactions. In a
highly competitive sector, companies are under high pressure to offer improved
services.
Well, how are financial companies
responding to this pressure; setting themselves apart from the rest? This
question is best answered by Lakoos that currently has over 20 million users
worldwide. It offers a one-stop smart financial solution to sending, and
receiving money; requesting, paying, and getting paid.
Lakoos is one of the companies that has
done a massive job at setting themselves apart. As described by the innovative
team at Lakoos; the solution was aimed at enabling you to use your money
anywhere like a local. Individuals and small companies can now enjoy cheaper,
faster, and more convenient internal money transfer services.
Borderless
financial freedom
If you're a traveller, you must know how
great it may feel to not worry about currency exchange in every country you
visit. With a Lakoos account, you make payments in your preferred currency. You
truly experience borderless freedom in terms of spending your money.
Do you have relatives living, working, or
studying abroad? Imagine making instant transactions. Lakoos enables swift
international money transfers between two individuals; making it easy to share
with family and friends back at home. The distance is not felt!
Who should
use Lakoos?
Lakoos takes care of all your financial
needs across borders. If you’re looking for an international money transfer
service that covers the highest number of countries globally and offers the
best prices, Lakoos is definitely a great place. It’s extensive in covering
possible needs for international money transfers:
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Save on exchange rates while
traveling abroad.
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Send and receive money from
your family and friend while working or studying abroad.
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Transfer funds to yourself from
foreign accounts for daily uses while living abroad.
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Making payments while abroad;
spending like a local
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Receive payments from international
clients or make payments to international suppliers
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Make international money
transfers remotely without visiting a physical branch; or online transactions.
Lakoos
Features
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Fast sign-up, for a Free
account or choose from the packages. The process is simple and fast, no paper work
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Lakoos Visa or MasterCard Debit cards to spend, pay and withdraw money in more than 150 countries
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Smart multicurrency accounts with dual Card functionalities and option to choose how you pay or spend, supporting over 90 currencies.
· Send, Receive and Request Money worldwide is Simple, Fast and Cheap, with Lower fee for large transfers
· Lakoos real-time bill payment.
Blog | Date: 16 September, 2022 23:15
Challenges Facing Cross-border Payments in Africa
For many years, people from Africa have crossed borders to study, live, work, and trade. Most of these people do not cut home ties. Instead, the migrant retains relationships with their families and governments, which involves sending and receiving money from home. Students without scholarships may need school fees and upkeep money from their parents in Africa. Employees working abroad may also want to send money home for their families or settle local bills remotely. For whatever legal reason for remittance, cross-border payments remain highly significant to Africans living abroad and their governments, businesses, and families back home.
Considering their global scale, one expects money transfer services such as PayPal and Western Union to meet remittance needs, as interbank transfers may pose many challenges regarding cross-border payments. However, for various reasons, these players fail to meet their expectations.
High fees
An estimated 36 million Africans live abroad, with remittance inflows into Sub-Saharan Africa alone amounting to about $47 billion in 2019. Despite the high demand for international money transfers in this region, cross-border remittance in Africa remains the most expensive in the world. Transfer fees cost approximately 8 and 10% of the transaction value, translating to approximately $4.7 billion in transaction expenses. Putting this data into context, Sending $200 to this region costs an average of 8.5% ($17) higher than in other regions. Additionally, such high fees are far from the 3% set by the Sustainable Development Goals (SDG). Such high costs hinder small transfers, contributing mainly to the total inflows.
Slow and delayed remittance
Conventional electronic transfer services such as PayPal are generally quicker than traditional banks. However, they are still slower, considering PayPal payments may take up to 5days processing time, depending on the linked bank account. The delay in fund transfer can be costly to the transacting parties. Think of a person trying to settle their bills or even a citizen trying to pay tax on a deadline day. Fintech firms are challenged with solving these issues by creating a model that supports a faster payment process that can be adopted more broadly across African countries.
Regulatory challenges
The number or the nature of the intermediaries involved in international money transfer prompt African governments to create regulations that hinder the easy transfer of funds. Additionally, each country has its regulations guiding that make cross-border payments slower.
Limited services
Besides sending and receiving money, people living abroad need other financial services to manage their money. They may want to remotely manage their invoices and utility bills such as water, school fees, hospital bills, government taxes, and even electricity bills. Such services may mean a lot of hustle when dealing with traditional banks. Additionally, conventional electronic payment services such as PayPal may not support most of these services.
Moving to Seamless Cross-border payments with Lakoos
There is an apparent acceleration in demand for comprehensive and efficient cross-border money transfer services as African consumers become more comfortable with digital payment products and services. Lakoos responds to users' needs accurately by enabling instant and affordable cross-border payments. The platform allows users to make payments and send and receive funds from anywhere across the world through smart multi-currency accounts. People can now transact in local currencies as the platform supports more than 70 currencies. Additionally, Lakoos enables users to manage cross-border invoices and bills. Africans living and working abroad can now automate and settle their electricity bills, school fees, water bills, invoices, port charges, and government taxes in the comfort of their homes. The platform also has an intuitive user interface, making it suitable for even less experienced users.
Blog | Date: 02 May, 2022 13:05
How Digital Payment is Helping Western Travellers to Africa
Many Western migrants travel to Africa for various reasons.
From tourists embarking on wildlife and stunning geographical sceneries to
business travellers to workers, more than one million Europeans move to the
second largest continent annually.
The degree to which immigrants access financial services has
significant implications for achieving their objectives in the foreign land. While
away from home, these migrants need proper access to finance to facilitate
their activities in Africa and even back home. For example, as a tourist, you will
need to make payments for travel tickets, accommodation, food, tour guide services,
and any other bill that your activities attract while adventuring Africa.
Additionally, you may want to settle bills back home. Business travellers also
need remittance services to facilitate their activities and stay in Africa.
Local Fintech Products
are not deal with European Migrants
Despite their dire need for access to financial services,
western migrants to Africa are less likely to use a wide range of financial services
compared to their native counterparts. Factors such as language barriers,
cultural differences, and lack of experience with the services of the local
financial institutions hinder migrants' access to financial services in Africa.
For instance, M-Pesa is the leading mobile money service in Africa. M-Pesa is
the leading digital payment method in Kenya that allows users to transfer money
and pay for goods and services anytime, anywhere. However, the service offered
by telco company Vodafone and Safaricom requires users to have an active
registered mobile only works when one has a registered Safaricom SIM card. It
works well for the natives considering that Safaricom is the dominant mobile
network provider, meaning most mobile users have a Safaricom line. However,
foreigners may not enjoy M-Pesa services because many of them may not have the
local network provider's SIM card. This case is especially true for tourists
who only visit the country for a few days and do not see the need to register
for an M-Pesa SIM card.
Additionally, M-Pesa is only available in a few countries,
majorly African countries. Therefore, many tourists do not register for mobile phone-based
financial services since they cannot use them once they return to their
countries. Instead, these foreigners would still stick to using bank cards and
other international digital payment services, which may not be as convenient as
local digital payment options.
A solution in
Interoperable Fintech Products and Services
Mobile payment solutions remain the best approach to solving
the lack of access to adequate financial services by travellers and migrants in
Africa. Mobile devices are already part of travellers and migrants' lives as
they carry them all the time.
There has been significant growth in mobile payment services. However, these services are primarily bound by an individual country market, hence not ideal for travellers and migrants. Therefore, all-inclusive mobile-payment services that support various currencies and multiple financial accounts are needed to resolve this complexity. This is where Lakoos Solutions comes in.
Lakoos financial
services for Anyone, Anywhere, Anytime
Lakoos is a mobile app that allows users to access financial
services anytime, anywhere hence solving the interoperability problem with most
Fintech products and services. Western migrants to Africa no longer need to use
Swift or Banks to facilitate payments while away from home. The app allows
users to send, receive, hold and exchange money in over 70 currencies, or make
payments to anywhere as a local. Additionally, it enables users to connect and
manage their global finance on one platform. They can receive, keep, exchange,
and transfer funds in various currencies. Lakoos also makes cross-border
payments more accessible, faster, and cheaper, creating a perfect solution for migrants
who manage their finances in Africa and Europe all in one platform.
Inspired by hardworking migrant communities
Making our money work around our way of life is at the heart of our vibrant ethnic communities in the diaspora. LAKOOS super app will always keep it beating...
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One Super App
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Multiple Banks
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Global accounts
Send, receive, pay or get paid like a local - anywhere
Send, Receive, Request Money, and Pay or get Paid in multiple currencies without borders. Connect and manage all of your accounts in one financial super app
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Tempor Euismod
+784
4.6% vs last 7 days
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98.245
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Stories From Our Customers
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We'll always have your back
Our priority is to protect your money and keep you Safe
Automated Fraud Monitoring System
Our AI/ML-powered automated Fraud-Monitoring system detects and automates decisions to proactively stop fraudulent behaviour.
We're SCA PSD2 Compliance
We use physical object, OTP and biometric data to comply with European PSD2 directive requirements for Strong Customer Authentication (SCA)
Three-tier security architecture
Built on three-tier security architecture, we follow the best practices and use industry-leading technologies to protect your money and keep you safe
Protected by Regulated Banks
By law, your money is safeguarded and protected by a regulated bank. We keep your money secure in these banks until you decide to pay it out.
Data Protection and Privacy
We're required by law to protect and secure your personal data, and we remain transparent as to how we collect it, why we do it, and where we store it.
Dedicated Counter Fraud Team
Lakoos has a zero-tolerance approach to fraud. Our dedicated counter fraud team works 24/7 to detect, prevent and deter fraud on the Lakoos network.
Start A New Life, Worry-Free
Moving and living in a new country can be a challenge. Lakoos has got your back - get your finances in order quickly and easily.
Enjoy a dedicated international super app
A financial super app built for everything you need to do with money. Anywhere. Anytime
Connect all your accounts in one place
Everyone has their preferred method of sending or receiving money, we've packed it all in one super app.
Supercharge your payment experience
Making global payments and financial services local, simple, straightforward, and accessible
Control Company Expenses at Every Step. More Savings. More Peace of Mind
More than 65,000 users around the world are already using OLMO actively
65K
Active downloads from the community
4.86K
Active downloads from the community
