Luno processes thousands of deposits a day and we use automated systems to check our bank statements for your deposit. If the deposit instructions are not followed precisely, you could end up waiting up to a month for the deposit to show in your Luno wallet.

For any of the reasons below, our systems may not recognise your deposit.

Incorrect deposit reference

Did you enter the correct deposit reference number 100% accurately? This is a unique nine-character code that starts with “BX...” which is prompted on your deposit screen (see below). This will be your unique number for all Luno deposits.

Some Luno customers insert their deposit reference number into their own reference field instead of the recipient or beneficiary reference field. This causes our special “BX...” reference number to appear on their bank statement and something else to appear on ours. If a deposit is made with an incorrect (or missing)  deposit reference number there is no way for our finance team to know which of our customer’s accounts to allocate the funds to. For this reason it is recommended to use the “BX…” number provided in both reference fields when adding Luno as a new beneficiary to your bank. 

Please note: If you’re in:

• Malaysia, make sure you add your unique reference number to the “other payment details” field as well as the “reference” field.

• Indonesia,the deposit reference number is optional. If you cannot enter your reference number, please ensure you do not make the following deposit mistake.

Incorrect deposit amount (customers in Indonesia)

As most ATMs in Indonesia do not allow you to add a reference number when making a transfer, we adjust our deposit mechanism in Indonesia to identify your deposit by its unique amount that is displayed when you go through the deposit screen. Using a unique deposit amount is compulsory. If you do not use your unique deposit amount this will result in an unallocated deposit and you’ll need to notify us by sending a support ticket with proof of payment in order to get your deposit allocated manually.

Using someone else’s bank account

Did you make your deposit from a bank account that does not belong to you? We do not accept deposits to your Luno wallet if made from a friend or family member’s bank account or a business account (even if you are the owner of the business). This can also cause the deposit to be delayed and in this case we will reverse the transaction, returning the money to the bank account from where it came. 

Duplicate deposit amount

As a safety precaution, our system stops deposits of the same amount made to the same customer’s Luno wallet within a 24 hour period. If you would like to make more than one deposit in a day, make sure they are all of different amounts.

Non-bank financial service providers (customers in UK)

Transactions must be in your name

If you deposit local currency into your Luno wallet from a non-bank financial service provider, (such as Revolut or TransferWise), the name and account details that Luno receives may not be yours, but that of the non-bank service provider. As a result, we might be unable to immediately allocate the deposit correctly, causing a delay. 

In some cases, the service provider (such as Nationwide Builders Society) will not process any payments to digital currency exchanges.

Non-bank financial service provider limits

Also, these service providers detect if you are sending money to digital currency exchanges (like Luno) and may reduce your limits or even block the transaction. You would then have to contact the service provider to increase your limits or unblock (possibly reverse) the transaction. 

What we’re doing

We are actively communicating these issues to non-bank service providers in order to better understand the causes and also to identify ways of improving our own deposit methods. For now we advise customers to deposit from traditional banking services instead. 

Help us find your deposit

If your deposit is not reflecting in your Luno wallet after two business days (excluding weekends and public holidays), please send us your proof of payment. Our team can only assist you with proper proof of payment from your bank.

Your proof of payment must show the following information:

• Your full name

• Amount of deposit

• Date of deposit

• Reference number used in the recipient’s reference field (if applicable)

Click here to submit your proof of payment.