LemFi is registered with FINTRAC and the Bank of Canada and authorised by the FCA as an e-money institution. Here is what that protects, how money in your LemFi wallet is treated, what its terms say about scams, freezes and refunds, and the 2023 Bank of Ghana notice.
Short answer: LemFi is a legitimate, regulated money transfer service. Its Canadian company is registered with FINTRAC and with the Bank of Canada as a payment service provider, and its UK company is an FCA-authorised electronic money institution. We checked both on the regulators' own registers. LemFi is also a wallet app, so the protection you get depends on whether your money is in transit or sitting in a LemFi balance, and on which country you use it from.
LemFi (formerly Lemonade Finance) is used mainly by people in Canada, the UK and the US sending money to Nigeria, Ghana, Kenya and other countries. This guide sets out what the regulators' records and LemFi's own terms say, what can go wrong, and what to do about it.
How we checked. On 9 and 10 October 2026 we read LemFi's Canadian, UK and US terms of service, its security page and Trust Center, its privacy notice and its help centre. We also checked LemFi's entries on the FINTRAC money services business registry, the Bank of Canada's registry of payment service providers, the FCA Register, FinCEN's money services business search and NMLS Consumer Access, plus public notices from the Bank of Ghana and the New Hampshire Banking Department.
Corrections. An earlier version of this article:
We have removed those statements.
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How to read the evidence in this guide
| Kind of evidence | Examples in this guide | How much weight to give it |
|---|---|---|
| Register entries | FINTRAC, Bank of Canada, FCA and NMLS records; FinCEN money services business search | High: we read the regulators' own registers |
| Regulator notices and orders | The Bank of Ghana's November 2023 notice; New Hampshire's 2026 consent order | High for what they say |
| Contract terms | LemFi's Canadian, UK and US terms of service | High: these are the rules you agree to, for the version dated |
| Company statements | Security measures, SOC 2 and PCI claims, help-centre answers, Ghana resumption | Medium: LemFi says it; we have not confirmed it independently |
Who you are actually dealing with
LemFi is a brand. The company you contract with depends on where you live:
| Where you use LemFi | Company | What the register shows (checked 9 to 10 October 2026) |
|---|---|---|
| Canada | Pomelo Technology Canada Ltd. | FINTRAC: registered money services business M20383642 (foreign exchange and money transferring), valid until December 2027. Bank of Canada: registered payment service provider since 26 March 2026 |
| United Kingdom | RightCard Payment Services Limited | FCA Register: FRN 900424, authorised electronic money institution since 4 April 2018, trading name Lemfi |
| United States | Pomelo Two US LLC | NMLS: ID 2523778, money transmitter licences in 15 states, all active. FinCEN money services business search: listed (registration received 30 October 2025) |
| Ireland / EU | Pomelo Remits Europe Ltd., as a partner of Modulr Finance B.V. | LemFi says accounts are provided by Modulr, an e-money institution regulated by the Dutch Central Bank. We did not check the Dutch register |
Two things are worth knowing:
What regulation does and doesn't protect
Canada.
United Kingdom.
United States.
Your rights depend on where you use LemFi
| Canada | United Kingdom | United States | |
|---|---|---|---|
| Cancel a transfer? | No, once authorised (section 3.1); a pending currency conversion can be cancelled before it converts (3.8) | No cancellation right described for immediate payments | Contact support within 30 minutes of authorising (8.3); after that, cancellation is not assured |
| Someone else used your account | LemFi "will cover you for the full amount of the unauthorized activity" if you cooperate and report it, unless you shared your login (section 4) | You may pay up to £35 of losses; nothing if you acted fraudulently (7.4 to 7.5); report within 13 months | You are liable for transactions made with your access code, unless you followed the security rules (6.5, 7.1) |
| Wrong recipient details | Your responsibility (3.9) | LemFi not liable but will try to trace, and may charge a fee (7.7) | No changes after submission (16.10) |
| Scam (you were tricked) | No specific right | Full refund possible for APP fraud on UK Faster Payments to a UK recipient, if you weren't careless and report within 13 months (7.7); international transfers don't qualify | No specific right |
| Complaint deadline | Errors investigated within 10 business days, up to 45 days (section 4) | Final response within 15 business days, 35 in exceptional cases (10.8) | No deadline stated |
| Outside help | None named in the terms | Financial Ombudsman Service (10.9) | CFPB or your state regulator (not named in the terms) |
The Canadian rule on unauthorised use is unusually generous compared with many remittance agreements. The UK APP-fraud clause is narrower than it sounds: it covers UK-to-UK payments, not money sent abroad. The terms change, so check the version in your app.
A hypothetical: a family emergency message, three countries
This is an illustration, not a real case. It shows how LemFi's terms treat the two most common problems differently.
Imagine you get a message from a "new number" saying your aunt is in hospital and needs money for treatment, with bank details for a "friend" in Lagos. You send it through LemFi. That evening your aunt calls on her usual number. She is fine, and she never sent the message.
Now change one detail. Suppose the transfer was made by someone who had stolen your phone and logged into your LemFi account. In Canada, that falls under the unauthorised-activity clause, and LemFi says it will cover you if you report it and cooperate. In the UK, your loss is capped at £35 unless you were fraudulent.
Account holds and freezes
LemFi's terms in all three countries let it delay, hold or restrict a transfer or an account to verify information or check for fraud:
Its help centre says a risky transaction may be put on hold and that "you may be asked for identification or documentation (such as proof of funds)" (withdrawal pending).
LemFi does not publish fixed transfer limits. Its help centre says "LemFi transfer limits vary by user, currency, and destination country", and the UK terms say limits "are set out in the app".
What helps:
If a transfer fails or is late
LemFi's failed transfer page says refunds for failed transfers are automatic:
For a transfer marked completed that your recipient hasn't received, its help page says the issue "is usually resolved within 24 hours". If it isn't, contact support with the transfer reference and ask your recipient to check with their bank.
Regulatory history
Ghana, 2023.
On 16 November 2023 the Bank of Ghana published Notice BOG/FMD/2023/78. It listed LemFi, alongside Wise and six others, as money transfer organisations operating in Ghana without its approval, and told banks and the public to stop dealing with them.
In February 2024 the Ghana News Agency reported a LemFi statement that it had received Bank of Ghana approval to resume remittances to Ghana through approved partners. We did not find a Bank of Ghana notice confirming that approval, so treat the resumption as LemFi's statement.
New Hampshire, 2026. NMLS lists one regulatory action against LemFi's US company. In a consent order (case 2025-0084, dated March 2026 and posted on NMLS on 17 April 2026), the New Hampshire Banking Department said Pomelo Two US LLC had disclosed that a pilot test between July 2022 and February 2023 included 8 transfers, worth $32,888 in total, with New Hampshire consumers. That was before it held a New Hampshire licence, which was approved on 10 February 2025. LemFi neither admitted nor denied the allegations, agreed to stop any violations and paid a $4,000 fine. The order says it "fully cooperated". It concerns licensing, not the loss or mishandling of customer money.
We did not find LemFi or its companies in FINTRAC's public list of administrative penalties.
Security measures LemFi documents
These are measures LemFi describes on its own pages. We have not tested or audited them.
Your personal data
LemFi's privacy notice (last updated 9 September 2026) names Pomelo Technology US Inc. as the main data controller.
Rates and safety are different questions
A competitive rate says nothing about whether a provider is safe, and LemFi's position in CheckRate's tables is not a safety rating. CheckRate reads LemFi's rates from its public website. The rate, fees, delivery time and the amount your recipient gets can change between checking and sending, so rely on LemFi's confirmation screen.
To compare today's offers, see:
Our verdict
What supports using LemFi:
What risks remain:
Before you send:
Frequently asked questions
Is LemFi legit?
Yes. In Canada, FINTRAC lists Pomelo Technology Canada Ltd. (operating as LemFi) as a registered money services business (M20383642), and the Bank of Canada lists it as a registered payment service provider. In the UK, the FCA Register lists RightCard Payment Services Limited, trading as Lemfi, as an authorised electronic money institution (FRN 900424). In the US, Pomelo Two US LLC (NMLS ID 2523778) holds money transmitter licences in 15 states and appears in FinCEN's money services business search. Being regulated means LemFi operates legally; it is not a guarantee against every loss.
Is money in my LemFi wallet protected?
Partly. In the UK, wallet money must be safeguarded in segregated accounts, but it is not covered by the FSCS, and naira balances are held by Nigerian partners outside UK safeguarding. In Canada, LemFi's company is registered with the Bank of Canada, which requires it to safeguard funds it holds, but the terms call a balance an unsecured claim and there is no CDIC insurance. Keep only what you need in the wallet.
Can I cancel a LemFi transfer?
Generally not once it is authorised. The US terms give a 30-minute window to contact support, but say cancellation is not assured after that. LemFi's help centre says a recall, if attempted, takes at least 8 weeks for a final outcome.
Will LemFi refund me if I was scammed?
Usually not for international transfers. LemFi's UK terms offer a full refund for APP fraud only on UK Faster Payments to UK recipients. Its help centre says it tries to recall scam payments, but success is often limited. Report it immediately anyway.
What happens if someone else uses my LemFi account?
Report it at once. LemFi's Canadian terms say it will cover the full amount of unauthorised activity if you cooperate and did not share your login. In the UK you may be liable for up to £35. In the US the terms make you liable for transactions made with your access code unless you followed the security rules.
Why was LemFi named by the Bank of Ghana?
In November 2023 the Bank of Ghana listed LemFi among money transfer organisations operating in Ghana without its approval. In February 2024 LemFi said it had received approval to resume services to Ghana through approved partners. We could not find a Bank of Ghana notice confirming that approval.
Sources
All checked on 9 to 10 October 2026.
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CheckRate Editorial Team
The CheckRate team compares remittance providers using their published terms, regulatory disclosures and live rates. We are not paid by LemFi.