On average, your account is credited within 72 working hours if all the prerequisites have been correctly met. Several factors can influence the timing of account credits such as the specific payment method used, the processing speed of the financial institution or platform, and any regulatory requirements or security measures in place.
Factors that Determine the Timing of Account Credits
1. Processing Speed of the Platform
🕐 As soon as we receive money in our account, we activate the transfer to your account. You should see the payment on your account the next morning.
The speed at which the platform processes transactions can impact the timing of account credits. Lemonway prioritizes quick processing times to offer near-instantaneous account credits while ensuring verification and security.
2. Payment Method
Note: It's important to note that different payment methods may have varying processing times and thus credit timelines.
💳 The payment method chosen by the sender or buyer plays a tremendous role in the timing of account credits. Different payment methods have varying processing times. For example, traditional methods like wire transfers may take longer to process, typically ranging from one to three business days. On the other hand, newer payment methods such as real-time payment systems or instant payment networks offer faster transfers, often completed within minutes or even seconds.
3. Regulatory Requirements and Security Measures
🔐 Regulatory requirements imposed by financial authorities such as ACPR can also affect the timing of account credits. Lemonway must adhere to these regulations, with verification processes, anti-money laundering, and fraud prevention measures.
In addition, robust security measures are implemented to protect users and their accounts. These measures can include fraud detection systems, identity verification, and transaction monitoring.
Compliance with these requirements and ensuring safe financial transactions may introduce additional steps and time for the platform and for you to complete before funds are credited.
4. Weekends and Holidays
📅 Holidays affect the timing of Account Credits. Lemonway does not process transactions during holidays, which may cause delays in crediting funds to your account. It's important to consider these non-business days when estimating the time it will take for your account to be credited. 👉Discover the dates of our closed period and of the Public holidays here
5. Lack of information or Error
When there is a mistake in the data or a lack of information that is necessary to process the transaction or for KYC, an error occurs. In that case, during a transaction, it can cause delays in the crediting of funds to an account.
Indeed, KYC checks are necessary to maintain the security and integrity of the platform, but they can introduce additional processing time before the account credits are completed. While your identity is not verified, your account is not valid and it cannot be credited. Thus, you need to make sure that all your information is verified.
If your account is not credited within the expected timeframe, and your identity was verified, it's advisable to first check the transfer details for any errors or discrepancies. Indeed, the sender may have made an error regarding your account number or other information.
In case everything appears correct, 👉 please contact us for assistance. Our Customer Service Team will be able to investigate the delay and provide you with information or updates regarding the status of your account credentials.