Lotus Foreign Exchange

Customers can register on the Lotus app by downloading it from the Apple App Store or Google Play. Once installed, open the app and follow the on-screen instructions to sign up using your email address. You'll need to verify your identity as part of the registration process.

The Lotus app is free to download and use. However, transaction fees may apply when making money transfers. There are no monthly subscription fees or charges for maintaining an account, nor are there fees for ordering currency online.

The Lotus app is available for devices running iOS and Android. We ensure compatibility with the latest versions of these operating systems to provide the best user experience. For users with PCs or other operating systems, please log in to our website to conduct your transactions.

The buy rate is used when you are exchanging a foreign currency to local currency (Lotus is buying the foreign currency from you). The sell rate is used when you are buying foreign currency from us and paying us in local currency (Lotus is selling the foreign currency to you). Rates are indicative only as they are influenced by market conditions and subject to change. Website rates may differ from those displayed in-store and on the Lotus FX Online app.

To pre-order currency, visit our website or use the Lotus app. Select the currency and amount you need, and choose a pickup location. You can lock in the exchange rate with payment at the time of your order to avoid rate fluctuations.

There are no limits on how much currency you can exchange or send. However, in certain situations, we may require you to provide us with additional information prior to completing your transaction in order to comply with financial regulations.

For most transactions, you will need to provide a valid government-issued ID (such as passport, national identity card, or driver licence plus bank card) and proof of address (utility bill or bank statement). Additional documents may be required for larger transactions or under specific regulatory requirements.

Yes, your personal details are stored securely. We protect your data and comply with all relevant data protection regulations to ensure your information is safe from unauthorized access. Regular audits and compliance checks reinforce our commitment to security.

Collecting the source of funds helps us comply with anti-money laundering laws and regulations. It is standard practice to ensure that the funds being exchanged or transferred are derived from legitimate sources.

For large transfers, you may need to provide additional documentation, such as proof of your source of funds and wealth, bank statements, or other financial documents to comply with regulatory requirements and to validate the legitimacy of the transaction.