LYPay review

LYPay puts the transfer fee at LYD 0 in Libyan dinar and describes the cost as Free - no fees on transfers or payments. The charge covers transfers and payments, so the cost of a send does not change with the amount you move. Payouts still land in a bank account, so the recipient needs bank details.

Delivery is Instant (real-time), so LYPay states that transfers settle in real time rather than queuing. The payout lands in a bank account, the only entry under bank, which means the receiving bank handles the last step once the money is sent.

LYPay is operated by Muamalat Financial Services Company, which is based in Libya. Questions are answered through help centre, a self service route rather than a direct line. For anyone comparing, the two figures that matter are the transfer fee at LYD 0 and delivery at Instant (real-time).

The payout goes to a bank account, which is the single entry in bank. There is no cash pickup or card payout in that list, so the person receiving the money needs working bank details. Delivery itself is Instant (real-time) once the send is made.

Support runs on help centre, which is a help centre rather than phone, chat or email. That suits senders who are comfortable working through online answers, and suits them less if a payment is stuck and needs a quick decision. Cost is simpler to settle, since the transfer fee is LYD 0.

It fits people in its home market, LY, who send money to a bank account and want it to arrive without a wait. With a transfer fee of LYD 0, keeping the cost is easy. It fits people less well if the recipient needs cash or a card payout, because bank covers the bank route only.

Skrill charges nothing for bank transfer sends and then adds a share of the amount on debit and credit card payments. Paysera keeps euro transfers to SEPA and Paysera users free, then charges a small amount per transfer to other countries. LYPay lists its transfer fee at LYD 0 with delivery at Instant (real-time).