Making Payments

From September, we’ll run Smart Payee Check on GBP payments to the UK, Channel Islands, or Isle of Man, and on EUR payments across the EU and EEA.
It compares the name you enter against the name on the receiving account, so you can catch mistakes before your money leaves. This is part of a wider industry effort to reduce fraud and misdirected payments.

What is Smart Payee Check?

Before you send a payment, we check the name you’ve entered against the name held on the receiving account. This helps make sure you’re paying who you think you’re paying, and gives you a chance to catch mistakes or scams before money leaves your account.

Will Smart Payee Check stop me being scammed?

It helps, but it’s not a guarantee. Fraudsters can register accounts under real-sounding names, so a match doesn’t mean the payee is legitimate, only that the name matches the account. Stay cautious with unexpected payment requests, even if the check passes.

What does “no match” mean?

The name you entered doesn’t match the name on the account. It could be a typo on your end, or the payee could have given you the wrong details. Either way, check with them before proceeding.

What does “close match” mean?

Similar but not identical, for example “Fred” vs “Frederick.” Worth confirming the payee’s exact registered name if you’re unsure.

Someone’s account details are hidden from the check, is that normal?

For UK payments, yes. Some people opt out for privacy reasons. It’s also a tactic used in scams, so only proceed if you’re confident you know who you’re paying.
For EU payments, this doesn’t apply. If a check can’t be run, you’ll see “Check Not Possible” instead and the same caution applies.

What does “Check Not Possible” mean?

The recipient’s bank may not support Smart Payee Check, or there’s a technical issue on our end. It doesn’t mean anything’s wrong with the account, just that we don’t have enough information. Proceed with the same caution as any unverified payment.

What if the details still don’t match?

Contact your Lumon account manager before proceeding.

Yes, we can accept funds from a third party into your Lumon account. We may ask you to provide us with documents that prove ownership of these funds.

When you send a large amount, we might need to see proof of where you got the money you’re sending.

If we do request this information, we’ll need you to provide a document that shows the movement of that money. That might be:

• a bank statement
• an investment or savings certificate
• or a letter from a solicitor confirming you received money from an inheritance, for example.

Yes, at Lumon we offer a Regular Payment Plan (RPP). This is a scheduled arrangement where you can make periodic payments for foreign currency transactions. It is a convenient and structured method to manage recurring currency exchange needs, such as regular overseas payments or monthly transfers. With an RPP, you can automate your foreign currency transactions, ensuring timely and consistent transfers at predetermined intervals. This helps in streamlining international financial obligations and provides convenience, predictability, and potentially cost savings by avoiding fluctuating exchange rates associated with ad hoc transactions. Note, this is only available for individuals, not corporate clients.

Your payment reference can be up to 32 characters. The permitted characters on the SWIFT network are letters, numbers, spaces and the following symbols: / – ? : ( ) . , ‘ +

When sending us a payment request via email we will always respond with a payment confirmation email. In this email there is a link to click on, this will open a webpage which will show the payee details and value you have requested to send. If the details are correct please click on the button that says ‘confirm’, if the details are wrong, do not click on the confirm button and contact us immediately at support@lumonpay.com or +44 (0)20 3384 7280.

You can pay money into your Lumon account by making a bank transfer. If you have booked a foreign exchange transaction with Lumon, the bank details will be on your transaction confirmation. Otherwise, to credit your account, please contact us on +44 (0)20 3384 7280. When making a payment to Lumon, please make sure to include your client reference number – this will start with either a C or P and will be followed by eight numbers, for example, C12345678.

Please email support@lumonpay.com or call us immediately on +44 (0)20 3384 7280. Unfortunately, once a payment has been released we will not be able to update the details. If the details are incorrect we will need to set up a recall to attempt to retrieve the funds.

If a payment is sent via the SWIFT network we can trace and recall, if required, once the transfer has completed. Please allow us time to set these requests up, and recalls are not guaranteed. We will then keep you updated on the progress of the cancellation.

Once we release your payment we will send a ‘confirmation of funds paid’ email with the expected delivery date, please be advised that this date is the best possible date and could be subject to change due to banking partners or additional screening

Please contact our payments team at support@lumonpay.com or call us on +44 (0)20 3384 7280 and choose the option for payments, and we will investigate this for you.

Please be aware that payments may be subject to fees charged by intermediary or receiving banks, which are outside of our control.

Yes. You can use money already held in your Lumon account or you can arrange to credit your Lumon account at a later date. We will process your payment as soon as there are adequate funds to cover the payment.

Email us at support@lumonpay.com and we’d be happy to help.

If your payment is returned, our Customer Success team will email you to advise you of the return of funds with the reasoning provided by the bank. They can then help support you with resending the funds, if required.