Top payment methods in Lebanon: A guide on best ways to pay
Wondering what the most popular ways to pay are in Lebanon? Explore the top payment options and choose wisely.
Lebanon, with a population of around 5.35 million people, has a GDP of approximately 28.28 billion making it the 116th largest economy in the world. The official currency of Lebanon is the Lebanese Pound (LBP)
Traditionally driven by banking, financial services, and tourism, the economy is currently in a state of severe crisis. It maintains trade links with the European Union and neighboring Arab countries, though they are heavily strained.
| Country | Lebanon |
|---|---|
| Population | 5.35 million |
| GDP (USD) | 28.28 billion |
| Global Ranking | 116th |
| Currency | Lebanese Pound (LBP) |
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What is the main payment method in Lebanon?
Due to a severe economic crisis and a lack of trust in the banking sector, a dual-currency cash system dominates in Lebanon, with "fresh" US Dollars being the preferred medium of exchange. Money transfer services like Whish Money and OMT are now also used for domestic peer-to-peer payments, settled in cash. While international credit/debit cards linked to foreign accounts are used, the domestic card processing system is severely disrupted.
How to pay in Lebanon
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Lebanon.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cash (US Dollar / Lebanese Lira) | Due to a severe banking crisis and hyperinflation, cash is king. The US Dollar is the preferred currency for most transactions, with the local Lira also used, often at a fluctuating market rate. | In-person |
| Mobile Money Wallets | Mobile money wallets are used for P2P transfers and to receive aid, acting as a key tool outside the formal banking system. | Online |
| Fresh Dollar Bank Transfers | Fresh dollars (referring to US dollars deposited after the crisis) can be transferred between certain bank accounts but are treated separately from "local dollars" stuck in the system. | Online |
| Hawala / Exchange Houses | Informal money transfer systems (Hawala) and licensed exchange houses are a primary way to send and receive money, especially US dollars. | In-person |
Is PayPal available in Lebanon?
No, PayPal is unfortunately not accepted in Lebanon.
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Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.