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Local bank transfer on Luno

Our rating
4.0
Offered in
4 countries
Type
Domestic bank rail
Rail reviewed
2026-08-18
Review updated
2026-08-12

Know before you deposit

Luno is winding down EU operations (EUR withdrawals end 31 Aug 2026, accounts close 1 Sep 2026); it remains fully active in Kenya, Nigeria, South Africa, Indonesia and Malaysia.

Yes. Luno takes Local bank transfer in 4 of the 5 countries we rank it in: Indonesia, Malaysia, Nigeria and South Africa. Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days. Of the 9 rails on our record for Luno, it is the one offered in the most countries.

What Local bank transfer is

A local bank transfer moves money between two accounts inside a single country's own payment system, with no correspondent bank and no currency conversion. The scheme is national and different everywhere: SEPA credit transfers and SEPA Instant in the euro area, FedNow and ACH in the United States, Pix in Brazil. The BIS counts fast payment systems live in more than 100 jurisdictions, and the FedNow Service, operated by the Federal Reserve since July 2023, runs a 24 hour business day every day including weekends and holidays. For someone funding an exchange in their own currency this is normally the cheapest option.

Speed
Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days.
Cost of the rail
Domestic transfers are free or close to free for consumers in most countries, and in the euro area the Instant Payments Regulation forbids charging more for an instant credit transfer than for a standard one.
Limits
The scheme ceiling is usually far higher than what you can actually send, because your own bank applies its own lower per transfer and daily limits on top of it.

Every exchange that takes Local bank transfer

Where Luno offers Local bank transfer

Each country opens the Luno page for that market, with its rank there and every rail it takes. The number is Luno's rank in that country's guide.

Africa (2)

Asia (2)

Named locally as Rupiah bank transfer (virtual account), Naira bank transfer (NGN), EFT bank transfer.

What Local bank transfer costs on Luno

Local deposit methods and costs vary by market; bank transfers are typically low cost.

Other ways to pay on Luno

8 other rails at least one country we rank Luno in uses, widest reach first.

Frequently asked questions

Does Luno accept Local bank transfer?

Yes, in 4 of the 5 countries we rank it in: Indonesia, Malaysia, Nigeria and South Africa. Of the 9 rails on our record for Luno, it is the one offered in the most countries. Support is decided market by market, so the country pages linked here are the exact list.

In which countries can I use Local bank transfer on Luno?

Indonesia, Malaysia, Nigeria and South Africa, from our country guides reviewed between 2026-08-12 and 2026-08-23. Locally it appears as Rupiah bank transfer (virtual account), Naira bank transfer (NGN) and EFT bank transfer.

How long does a Local bank transfer deposit take on Luno?

Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days. That describes the rail itself; Luno may hold a first deposit for longer while it verifies your account.

What does Local bank transfer cost on Luno?

Domestic transfers are free or close to free for consumers in most countries, and in the euro area the Instant Payments Regulation forbids charging more for an instant credit transfer than for a standard one. On Luno's side: Local deposit methods and costs vary by market; bank transfers are typically low cost.

Are there limits on Local bank transfer deposits?

The scheme ceiling is usually far higher than what you can actually send, because your own bank applies its own lower per transfer and daily limits on top of it. Any limit Luno applies on top is set per account tier and shown inside the platform.

Sources