Lebanon News and Tutorials

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...

EDIT: Lebanese can open accounts on Transferwise, which gives them access to USA/UK/EU and other banking accounts, all without needing to travel at all. It's a great service, used and trusted by many. It's based in the EU and has a good reputation for being save and having low fees. For more information  check this guide  Hello, I hope everyone is doing fine in this shitty economical situation Lebanon is passing through. In an attempt to help people brainstorm and figure out the best thing for them to do, I'm going to post a couple of threads tackling some of the financial issues related to Lebanon. This post is targeted to people who already have a lot of cash and aren't knowing what to do with it, it doesn't tackle how to get your money out of the bank.  A lot of people either have high-cash generating businesses, or where able to withdraw a large sum of money early on and are stacking their cash in vaults at home. Furthermore, with the new bank restr...

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  -------------- 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 transfe...

  Can I use the old USD in the bank (lollars) to buy online? Most banks have very low internet limits. We're talking about $15-$20 per month limit. It is expected that all banks decrease this limit to 0 soon. That being said, banks are not treating customers equally. You might have a better internet limit than other people. Call your bank's call center and ask about your internet limit. Can I use my LBP card to pay online? Banks stopped all fx transactions (changing from LBP to USD). So the answer to this question is 99% of the time no . That being said, banks are not treating customers equally. You might have a better internet limit than other people. Call your bank's call center and ask about your internet limit. Amazon/Expedia/Steam/Other website is showing the items in LBP and the invoice and total are in LBP, can I use my LBP to pay it? No. Amazon and other websites show their invoices in all currencies around the world depending on where you'r...