[Guide] How to send money from abroad to Lebanon?

 

-------------- International Bank Transfer in Fresh USD Account --------------

1. Open a fresh money account in your bank

Blom Bank: https://www.blomretail.com/retail/bank-accounts-lebanon/fresh-money-accounts

Bank Audi: https://www.bankaudi.com.lb/externalaccount

Byblos Bank: https://www.byblosbank.com/personal/accounts/current/

Fresh Money Account or External Account is a bank account that has real USD, unlike old/regular bank accounts which have lollars in them. (Lollars are Lebanese Dollars aka Dollars stuck in Lebanese banks, aka Dollars in bank accounts before October 2019)

In order to receive an international incoming bank transfer, make sure you go to your bank before the transfer is done and open an external or fresh money bank account. Do NOT transfer into your old USD account.

2. Tell the bank you're expecting to receive an international incoming bank transfer and want to withdraw it in USD

Some banks are giving out the entire incoming bank transfer in USD. Other banks are giving 80% of the incoming transfer in USD while giving the rest in LBP. Make sure you talk with your bank and negotiate the entire thing before any transfer is done

3. Transfer and withdraw the money in USD

Transfer can take from 4-7 business days and costs will be incurred on the sender and the receiver


-------------- Bitcoin --------------

Check this quick video LINK

1. Use your foreign (not Lebanese) credit/debit card to purchase BTC (Bitcoin)

You can purchase BTC (Bitcoin) from

When you purchase Bitcoin through any of the mentioned websites, you will be able to send Bitcoins to a wallet of your choice or keep them on the exchange.

2. The person who's going to receive the money in Lebanon opens a bitcoin wallet

The person who's going to receive the money in Lebanon opens a bitcoin wallet that can be done in less than 2 minutes using any of the free wallets such as (BlueWallet,Coinomi, Exodus)

This can be done for free on a laptop or mobile phone.

3. The sender sends the bitcoin from his wallet to the receiver's wallet
4. The transfer could take up to 10-20 minutes and should not take more than $1 per transaction.
5. Once the receiver (Person in Lebanon) receives the bitcoin, he can list them for sale in exchange for USD or black market rate LBP

However you can skip this step by arranging a trade by yourself so instead of sending it to your family or friends you can send it to the person who is willing to buy it from you and they will deliver LBP as per your arrangement or through OMT.

6. Bitcoin can be sold on

https://localbitcoins.com/

Live market places on Telegram: https://bitcoinduliban.org/communities

7. If someone needs to immediately sell his bitcoin, he can offer a lower price (lower than the exchange rate) and a buyer will most probably immediately accept the sale
8. Selling bitcoin in exchange for USD, requires the buyer and the seller to meet physically
9. Selling bitcoin in exchange for LBP (black market rate), does not require the buyer and the seller to meet, the transaction can be completed by using OMT.

For more information about how bitcoin works please check the AMA that was done here in our subreddit, and check https://bitcoinduliban.org/

-------------- Western Union --------------

On August 6, 2020, BDL released a new announcement requesting all money transfer companies to give out the money in USD. The announcement can be found here.

Fees: Usually around 20/1000

Be careful when using these services as high fees might be incurred.

Comments

Post a Comment

Popular posts from this blog

Transferwise: Banking Services Abroad without Traveling

Note: Transferwise changed its name to Wise . It's exactly the same thing, just a re-brand . What is Transferwise? Transferwise is an online banking service. It has no physical branches, but it can do most of the things a bank can. It's headquarters are in the EU. It's subject to the EU's laws.  Can Lebanese passport holders use Transferwise? Unlike most of other services, Transferwise verifies Lebanese passport holders, so you can still use it! Transferwise allows people with Lebanese passport to sign up and open an account and use it, you can open an account with your passport information (name, date of birth..etc) and use your address in Lebanon and phone number in Lebanon, and it would work, BUT they will limit some of functionalities because you live outside the EU. For example, you can't request a debit card or use a USD account. You can bypass this by using a business account (more on this later). What happens when you sign up? When you open a Transferwise ac...
Read more

List of some e-books that are worth reading about the history of Lebanon

I collected several good books about the modern history of Lebanon and I'm going to share the download links with you. If you have an additional ebook that you'd like to share with everyone, please send me an email on perito@rlebanon.com Sandra Mackey - Lebanon A House Divided Harris, William Wilson - Lebanon: a history, 600-2011 A History of Modern Lebanon by Fawwaz Traboulsi Philip K. Hitti (auth.) - A Short History of Lebanon (1965, Macmillan Education UK) Hirst, David - Beware of small states - Lebanon, battleground of the Middle East-Nation Books (2010) Robert Fisk - Pity the Nation - Lebanon at War-Oxford University Press, USA (2006) William R. Polk - The opening of south Lebanon, 1788-1840 Samuel M. Katz - Battleground Lebanon Robert Fisk - Pity the Nation: The Abduction of Lebanon Samir Kassir - Beirut
Read more