Money transfers FAQs
Common queries and questions about making international money transfers.
Fees and charges
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International Moneymover Service* Free: - Through online banking.
- Through International PhoneBank, in branch, or in writing.
- Through standing order.
- To your other accounts held with Lloyds Banking Group.
Correspondent Bank Fee* Zone 1 (USA, Canada and Europe) £12 Zone 2 (Rest of the world) £20 (Note: For the purposes of the Correspondent Bank Fee, Europe is defined as all EEA countries plus Jersey, Guernsey, Isle of Man, Monaco, San Marino and Switzerland) Electronic Funds Transfer
(CHAPS payments within the British Isles)£25 Recalling a payment We cannot guarantee the cancellation as funds may already have been paid to the beneficiary.
Lloyds International do not charge customers to recall a payment, but any return of funds may be subject to deductions in the form of
- Beneficiary bank or other institutions return payment fees
- Foreign bank charges
- Foreign exchange fluctuations
*When making an International Payment there are 2 charging methods:
Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges.
Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you have. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot give information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank.
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What exchange rate will I get?
We offer a wide range of foreign exchange services. When you make a payment online, you'll be told how much you should expect to leave your account or how much the recipient will receive.
If you want certainty over the exchange rate, you should make your payment in the currency of the country you are sending it to. Otherwise, you won't know what exchange rate is going to be used by the receiving bank.
Standard Exchange Rate
Payments are processed using our standard exchange rate. The tables below provides an indication of the margin, which is the current percentage difference between this rate and the rate at which we buy and sell currency in the foreign exchange markets (the wholesale rate). The margin will be applied and incorporated within your foreign exchange rate.
If you are sending funds from a Sterling International account, refer to the table below:
Group A Accounts* (including Sterling International Plus Account, Sterling International Classic Account, Sterling Premier International Account, Sterling International Account, Island Current and Savings Accounts. Doesn't include Sterling International Instant Saver and Sterling International Bonus Saver Accounts).
Payment Value in GBP
Current margin for sending money in a foreign currency from a Group A Account*
Payment Value in GBP
0 - £10,000
Current margin for sending money in a foreign currency from a Group A Account*
3.55%
Payment Value in GBP
£10,000 - £50,000
Current margin for sending money in a foreign currency from a Group A Account*
3.55% - 2.40%
Payment Value in GBP
£50,000 - £100,000
Current margin for sending money in a foreign currency from a Group A Account*
2.40% - 2.10%
Payment Value in GBP
£100,000 - £250,000
Current margin for sending money in a foreign currency from a Group A Account*
2.10% - 1.50%
Payment Value in GBP
£250,000+
Current margin for sending money in a foreign currency from a Group A Account*
1.50%
If you're sending funds from a Currency International account, refer to the table below:
Group B Accounts* (including Euro and US Dollar International Classic Account, Euro and US Dollar Premier International Account, Euro and US Dollar International Account, International Instant Saver, International Bonus Saver, Money Market Call).
Payment Value in GBP
Current margin for sending money in a foreign currency from a Group B Account*
Payment Value in GBP
£0 - £25,000
Current margin for sending money in a foreign currency from a Group B Account*
3.00%
Payment Value in GBP
£25,000 - £50,000
Current margin for sending money in a foreign currency from a Group B Account*
2.00%
Payment Value in GBP
£50,000 - £99,999
Current margin for sending money in a foreign currency from a Group B Account*
1.20%
Payment Value in GBP
£100,000 - £149,999
Current margin for sending money in a foreign currency from a Group B Account*
1.00%
Payment Value in GBP
£150,000 - £499,999
Current margin for sending money in a foreign currency from a Group B Account*
0.75%
Payment Value in GBP
£500,000 - £749,999
Current margin for sending money in a foreign currency from a Group B Account*
0.50%
Payment Value in GBP
£750,000+
Current margin for sending money in a foreign currency from a Group B Account*
0.20%
For our exchange rates for international money transfers, call us or contact your Relationship Manager
From the UK: 03457 449 900
From outside the UK: + 44 (0) 1539 736 626
Lines are open 6am – Midnight UK time, 7 days per week. Calls may be monitored/recorded.
* To find out if your account is Group A or Group B, check the Customer Relationship Agreement (PDF, 411KB). If your account was, until 1 August 2022, held with Lloyds (International Services) Limited (LBISL) your account will be a Group B Account.
Ways to send money
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- Free*, fast and convenient money transfers in all major currencies.
- Send money online through online banking or over the phone.
Online:
Make international money transfers from your accounts for free*. But, correspondent and recipient bank charges may apply.
Telephone:
Call International PhoneBank®:
From the UK: 03457 449 900
From outside the UK: + 44 (0) 1539 736 626
You can use our automated services 24/7. If you need to speak to an adviser not all Telephone Banking services are available 24 hours a day, 7 days a week.
Contact us for contact numbers and opening times which may vary depending on the service that you need.
Calls may be monitored / recorded.
There may be limits on payments you can make and we may not be able to start processing all payments instructed out of normal banking hours.
In writing:
You can send your request to transfer money overseas to:
Lloyds International
Villiers House
2 Victoria Street
Douglas
Isle of Man
IM1 2LNSecurity
We may make extra security checks before acting on a particular request for an International Money Transfer, when we believe we are justified in doing so.
*When making an International Payment there are 2 charging methods:
Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges.
Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you have. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot give information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank.
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Make regular International Money Transfers automatically and free of charge.
- Ideal for paying bills
- Send money regularly to your family
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You will need:
- Their Bank Identifier Code (BIC), SWIFT code or national bank code.
- Their bank account number or International Bank Account Number (IBAN).
- Their full name.
- Their bank's full address.
- BIC and IBAN codes are similar to a bank account number and sort code in the UK. They are compulsory for payments to European Economic Area (EEA) countries and other countries around the world where an IBAN is required. You'll need to get these details from the person receiving the payment overseas.
Set up and manage international recipients
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You'll need to give us your recipient's bank account number and the full name and address of their bank.
For payments to the EU (European Union and EEA (European Economic Area) and selected other countries, you'll also need to give the BIC (Bank Identifier Code)/Swift code and the IBAN (International Bank Account Number).
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You'll need to give us the correct information about the person you are sending it to.
This includes their:
- Bank Identifier Code (BIC), SWIFT code – a standard format for BIC codes – or national bank code
- bank account number or International Bank Account Number (IBAN)
- full name
- bank's full address.
BIC and IBAN codes are like a bank account number and sort code in the UK. They are compulsory for payments to European Economic Area (EEA) countries and other countries around the world where an IBAN is required. You'll need to get these details from the person you want to transfer money overseas to.
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IBAN stands for International Bank Account Number. It is a unique code that identifies an individual bank account. We won't be able to process your payment to the European Union, EEA (European Economic Area) and other countries where an IBAN is required, without it.
IBANs are obligatory for payments to the European Union and EEA (European Economic Area) and other countries where an IBAN is required. Please note that IBANs can have a different number of characters and are a mix of letters and numbers.
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You'll need to ask your recipient for the BIC/SWIFT code of their bank.
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Payments to new recipients can be made as soon as their details have been set up.
Payments and cheques
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Your payment should get to the recipient's bank in 1-3 days – the time it takes will vary from country to country. But we aren't in control of how long it takes the recipient's bank to process the transfer.
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You'll get a reference number if you pay online and can print off your own receipt. Payments made by phone will be shown on your statement, so check this carefully. You can get payment confirmations upon request.
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If for any reason the money doesn't arrive, tell us as soon as possible and we'll try to trace it. You may be charged for this service.
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Yes, if you want to pay in a foreign cheque, sign your name on the back of the cheque and post it to us.
We may not be able to accept cheques in all foreign currencies.
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Negotiating
We’ll pay the money into your account within a few days of receiving the cheque.
The bank can reverse credits from cheques later on, if the cheque returns unpaid.
Collecting
We’ll pay the money into your account when we receive payment from the paying bank. This can take between 6 to 8 weeks to complete, depending on the paying bank or its country.
We send the cheque to them, and we may use a correspondent bank to do this. They may apply a charge, which will be debited from the money before it’s paid to your account.
It’s usually cheaper, quicker and easier to use electronic payments.
Online international payments
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Online International Payments through mobile banking or online banking
You can make international money transfers online through our International mobile app or currency online banking, which is available for International current accounts held in Euros and US Dollars.
The advantages of Online International Payments- You can transfer money overseas when it suits you – 24 hours a day, 7 days a week. Payments are processed during normal banking hours
- It's easy to send money to anyone you've already made a payment to, as we'll store their details
- Send up to £100,000 a day (or currency equivalent) to almost anywhere in the world.
Online Transfer payments through sterling online bankingSending money abroad
The quick and secure way to send money around the world.
Available online 24 hours a day, 7 days a week. We’ll process your payment during normal banking hours.
Send from £1.01 up to £100,000 per day through online banking.
We won't charge you for transferring money overseas. But, correspondent and recipient bank charges may apply.
Once you’ve set up a new recipient online, we’ll save the details to make it easier for you next time.
Making an International PaymentSending money abroad online is easy.
Use our online calculator for an indication of cost and fees for the payment. When you’re ready, you’ll be able to complete the payment in a few simple steps.
What you need to make a payment
- The recipient’s name, address and their bank’s address
- For some countries, including all countries in the European Union, you need the BIC/SWIFT code and the IBAN (this replaces the account number)
- For the rest of the world, you will need the recipient’s bank account details, such as their account number
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You can use our international payments calculator to get an estimate of how much a payment will cost. You’ll see this useful tool when you go to send money abroad from your account.
Our fees
We won't charge you for transferring money overseas. But, correspondent and recipient bank charges may apply.
If you make the payment using online banking then the recipient will pay their bank or correspondent bank charges that may apply.
If you would like to pay the recipient and / or correspondent bank charges then you need to make the payment in branch or over the phone.
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Processing your payment
Payments made before 3pm on a working day will be processed the same day. Otherwise, the payment will be processed on the following working day.
Money will only be debited from your account when your payment has been processed.
When will the money arrive in the recipient’s account?
Once your payment has been processed you can follow the below guidelines:
Currency and destination
Delivery times
Currency and destination
Payments in euro to EU and EEA* countries, Monaco, Switzerland or San Marino
Delivery times
No later than the next working day
Currency and destination
Any other currency to EU and EEA* countries, North America, Canada, South Africa, Australia, New Zealand, Middle East and the Far East
Delivery times
Generally no later than 4 working days
Currency and destination
Any currency to any other country
Delivery times
Should take no longer than 14 working days
*The European Economic Area (EEA) includes countries in the European Union and also Iceland, Liechtenstein and Norway.
Getting started online
Depositor compensation schemes
Schemes vary depending on where your account is held.
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