A. Getting Started
The Lakhoos Exchange Mobile Application allows you to send money internationally quickly and securely using real-time exchange rates. You can:
- Send money to bank accounts, mobile wallets, or cash pickup locations.
- View live exchange rates.
- Track your transactions in real time.
- Manage your beneficiaries and profile.
- Receive transaction notifications and digital receipts.
- Locate the nearest Lakhoos Exchange branch in Oman.
The application is available to:
- Individuals aged 18 years or older.
- Residents of the Sultanate of Oman.
- Customers who successfully complete the registration and identity verification (KYC) process.
- Download the Lakhoos Mobile Application from the App Store or Google Play Store.
- Select Sign Up.
- Enter your personal details.
- Verify your mobile number or email address.
- Upload the required identification documents.
- Complete the KYC (Know Your Customer) verification process.
Once approved, you can start using the application.
B. Registration & Identity Verification
Identity verification is required to:
- Comply with financial regulations.
- Prevent fraud and unauthorized transactions.
- Ensure secure money transfer services.
You may be required to:
- Upload your Resident Card or other identification documents.
- Complete a selfie verification process.
Verification is usually completed within a short period.
Yes. Lakhoos Exchange uses industry-standard security measures including:
- Data encryption.
- Secure authentication methods.
- Two-factor authentication (2FA).
- Fraud prevention and security monitoring.
Your personal and financial information is protected at all times.
C. Account Security
Yes. We strongly recommend enabling Two-Factor Authentication (2FA) for enhanced account security.
- Tap "Forgot Password" on the login screen.
- Follow the instructions sent to your registered email address or mobile number.
- Create your new password.
- Click "Forgot PIN" on the login page.
- Enter your registered mobile number.
- Enter the OTP sent to your mobile number.
- Create and confirm your new 6-digit PIN.
For better security, biometric login is recommended.
- Log in to the application.
- Select "Change PIN."
- Verify your identity using the OTP sent to your registered mobile number.
- Enter and confirm your new PIN.
Immediately:
- Change your password.
- Change your PIN.
- Contact Lakhoos Exchange Customer Support.
We recommend that you:
- Never share your OTP or PIN with anyone.
- Enable Two-Factor Authentication (2FA).
- Use biometric authentication.
- Keep your registered mobile number and email address up to date.
- Regularly update your password.
D. Money Transfer Services
To send money:
- Register and complete KYC verification.
- Add or select a beneficiary.
- Enter the transfer amount.
- Select your preferred payment method.
- Confirm your transaction.
New beneficiaries may receive transfers of up to OMR 4,000 immediately, subject to applicable regulations and system limits.
The application supports:
Bank Account Transfer
Funds are transferred directly to the recipient's bank account through Lakhoos Exchange's correspondent banking network.
Cash Pickup
Recipients can collect funds from supported payout locations by presenting:
- A valid original photo ID.
- The service provider's reference number.
Service availability depends on the recipient country.
A beneficiary (recipient) is the person authorized to receive the transferred funds.
The beneficiary may be:
- Yourself.
- A family member.
- A relative.
- A friend.
- Any eligible individual.
Please note that only personal transactions are permitted through the mobile application.
- Log in to your account.
- Select "Recipients."
- Tap "Add Beneficiary."
- Choose the destination country and transfer service.
- Enter all required beneficiary details.
Depending on the transfer type, you may need to provide:
- Bank account number.
- IBAN.
- Registered mobile number (for Mobile Money Transfers).
E. Exchange Rates & Fees
The application supports multiple major and regional currencies. Available currencies may vary depending on your location and selected transfer service.
Exchange rates are based on current market conditions and are updated regularly.
The applicable exchange rate is displayed before you confirm your transaction.
Exchange rates fluctuate continuously. The rate is locked only when you confirm your transaction, subject to the application's terms and conditions.
Transaction fees may vary depending on:
- Currency pair.
- Transfer amount.
- Destination country.
- Transfer method.
- Selected payout service.
Any applicable charges will be clearly displayed before transaction confirmation.
Yes. Transaction limits depend on:
- Account type.
- Verification level.
- Regulatory requirements.
Applicable limits are displayed within the application where relevant.
F. Payment Methods
Available payment methods may include:
- Bank Transfer.
- Debit Cards.
- Credit Cards.
- Linked Bank Accounts.
- Supported Online Payment Services.
Availability may vary depending on your region.
Payments are processed securely through the Bank Muscat (Omannet) payment gateway at no additional cost.
Payment steps:
- Select "Send Money."
- Choose your beneficiary.
- Enter transfer details.
- Select your preferred payment method.
- Complete payment authorization via your bank.
- Receive your transaction receipt.
If payment fails, the system will verify the transaction status automatically and update it, usually within one hour.
Please:
- Verify your payment details.
- Ensure sufficient funds are available.
- Wait for the transaction status update.
- Contact your bank if required.
- Contact Lakhoos Exchange Customer Support if the issue persists.
In most cases:
- The transaction is automatically reversed.
- The deducted amount is refunded to your bank account.
Please wait for the refund process or contact your bank if the delay continues.
Payment must be completed within four (4) hours after initiating the transaction through the mobile application.
G. Transaction Tracking
You can:
- View transaction status under "My Transactions."
- Use the Transaction Remittance Tracking tool.
- Enter your transaction reference number to view the latest status.
Possible reasons include:
- Bank processing delays.
- Identity verification requirements.
- Security checks.
- Network or payment gateway issues.
Transactions may be cancelled only if processing has not yet started.
Once processing begins, cancellation may no longer be possible.
Most money transfers are completed within 30 minutes.
Processing times may vary depending on:
- Receiving country.
- Payment method.
- Bank processing times.
- Public holidays.
- Regulatory requirements.
- Recipient details.
Yes. You will receive an SMS notification once the recipient receives the funds.
Yes. A digital receipt is generated after every successful transaction and can be:
- Viewed within the application.
- Downloaded.
- Sent to your registered email address.
Your unique transaction reference number can be found:
- On your digital receipt.
- In your registered email.
- Within your transaction details.
For Cash Pickup transfers, a separate service provider reference number may also be provided.
Yes. You can view both completed and pending transactions in the Transaction History section.
H. Notifications & Alerts
- Open the Rate Calculator.
- Select "Set Alert."
- Enter your preferred exchange rate.
- Choose your preferred notification method:
- SMS
- Push Notification
- Save your alert.
You will be notified once the selected exchange rate is reached.
I. Profile Management
Go to:
Profile > Account Settings
Some profile changes may require additional verification.
J. Branch Locator
The Branch Locator feature allows you to:
- Find nearby branches.
- Search all Lakhoos Exchange branches in Oman.
- Get navigation and directions.
Please enable location services for the best experience.
K. Customer Support
You can contact us through:
- Email: customer.care@ltvedexch.com
- Phone Support:
- Help Center within the application
Our support team is ready to assist you with any enquiries or transaction-related issues.