If you reside in the UK, Canada or United States and trying to send money to someone Nigeria using the LemFi app, but the transfer fails. You wonder if it’s an issue with the app, but what if you’ve unknowingly hit your account’s transfer limit? This could leave you in a difficult situation, especially when timing is critical.

In this post, you’ll learn:

• The send and receive limits for LemFi Naira accounts.
• How to check these limits quickly in the app.
• What to do if you hit these limits, and why they exist.

Read: How to get Lemonade Finance (LemFi) Sign-up Bonus

Overview of LemFi Naira Account Limits

LemFi (Lemonade Finance) sets specific limits for sending and receiving money across different currency accounts:

• British Pound (GBP)
• Ghanaian Cedi (GHS)
• Kenyan Shilling (KES)
• Nigerian Naira (NGN)
• Canadian Dollar (CAD)
• US Dollar (USD)

Read: LemFi Pounds Transfer Limits

These limits vary depending on the currency you are using, which makes it important to understand your Naira account’s restrictions to avoid failed transfers.

LemFi Nigerian Naira Account Limits (NGN)

Below is the transfer limit for LemFi Naira account:

Send Limits:

• Daily Limit: ₦3,000,000
• Weekly Limit: ₦10,000,000
• Monthly Limit: ₦30,000,000

Receive Limits:

• Per Transaction: Unlimited
• Daily Limit: Unlimited
• Weekly Limit: Unlimited
• Monthly Limit: Unlimited

Knowing these limits ensures smooth transfers, especially during high-volume transactions. Planning your transfers within these limits avoids unnecessary delays or disruptions.

How to Check LemFi Naira Account Limits

Checking your Naira account limits on the LemFi app is simple. Here’s a step-by-step guide to help you check both your send and receive limits:

1. Open the LemFi app and log in using your password or fingerprint for authentication.
2. Choose the “My Accounts” option:
   Tap on the “My Accounts” icon located in the upper left corner of the app dashboard. This section contains:
   • Account Information
   • Help and Support
   • Login and Security
   • Manage Connected Accounts
   • About
   • Log Out
3. Select “Account Information“:
   From the list of options, tap “Account Information”. This section includes:
   • Profile
   • Account Limits
   • Account Statement
4. Tap on “Account Limits“:
   In this section, you will find your LemFi currency accounts, including:
   • British Pound
   • Nigerian Naira
   • Ghanaian Cedi
   • Kenyan Shilling
5. Choose “Nigerian Naira” to view your limits.
   By default, the app will display your send limits. Tap or swipe to switch and view your receive limits.

Following these steps allows you to quickly check your Naira account limits and stay within the allowed transfer amounts.

What Happens When You Reach LemFi Limits?

If you hit your LemFi Naira account’s daily, weekly, or monthly limits, your transactions will be declined until the next reset period. Here’s what happens based on the limits you’ve reached:

• Daily Limit Reached: Once you reach the daily send limit of ₦3,000,000, you won’t be able to send more money until the next day.
• Weekly Limit Reached: Exceeding the weekly limit of ₦10,000,000 means you’ll have to wait until the following week for your send limits to reset.
• Monthly Limit Reached: If your monthly limit of ₦30,000,000 is reached, you won’t be able to make further transfers to Nigeria until the start of the next month.

What You Can Do

Here are steps you can take if you hit your LemFi limits:

• Wait for the Limits to Reset: The easiest solution is to wait until the next day, week, or month depending on the limit you’ve reached.
• Use Other Transfer Apps: If you need to make urgent transactions, you can use alternative services like:
• Taptap Send App
• Ace Money Transfer
• Sendwave
• OA Pay
• Nala Transfer App.

Why These Limits Exist

LemFi’s limits are designed for:

• Regulatory Compliance: To ensure adherence to international financial regulations.
• Anti-Fraud Measures: To protect against suspicious transactions.
• Risk Management: To mitigate risks related to large or repeated transfers.

FAQs

Here are some frequently asked questions about LemFi Naira account limits:

Summary

Lemonade Finance (LemFi) provides a convenient way to transfer money internationally, but understanding your account’s send and receive limits is crucial to avoid disruptions. By knowing your daily, weekly, and monthly transfer limits, you can plan your transactions efficiently and avoid failed transfers.

Here are the key points to remember:

1. Steps to check LemFi Naira account transfer limits: Open the app, go to “My Accounts“, select “Account Information“, tap “Account Limits“, and choose “Nigerian Naira” to view your send and receive limits.
2. Send Limits: ₦3,000,000 daily, ₦10,000,000 weekly, and ₦30,000,000 monthly.
3. Receive Limits: No limits on receiving funds for the Naira account.
4. What happens when you hit the limit: Transactions will be declined, and you’ll need to wait for the next period to reset or use another money transfer app.

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