Foreign Exchange (FX) Margins
We know that foreign exchange is essential to your business. That is why we have made our FX margins simple and clear.
Standard FX Margin
Standard FX Margin
Customers converting more than £250,000 of FX annually are eligible for a reduced margin. Please speak to either the Business Management Team or your Relationship Manager (if applicable).
Example 1 – Making an international payment
You need to make a payment of €1,000 to a supplier in Spain. If the current GBP/EUR wholesale rate is 1.1900 the Lloyds Bank exchange rate applied to that payment would be 1.1662, based on our standard FX margin of 2%. This means £857.49 would be debited from your account.2
Example 2 – Receiving an international payment
A customer in the United States makes a payment of $500 to your GBP account. If the current GBP/USD wholesale rate is 1.2600 the Lloyds Bank exchange rate applied to the incoming payment would be 1.2852, based on our standard FX margin of 2%. This means £389.04 would be credited to your account.2
Example 3 – Inter account transfer
You need to transfer €2,000 from your EUR account to your GBP account. If the current GBP/EUR wholesale rate is 1.1900 the Lloyds Bank exchange rate applied to that transfer would be 1.2138, based on our standard FX margin of 2%. This means £1,647.72 would be credited to your GBP account.2
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.