Guide to sending money abroad

If you know you'll need to send money abroad on a regular basis, it could make sense to set up an international bank account. You can bank in different major currencies with flexibility.

You'll need 1 of these international accounts

• International Current Account in sterling, US dollars or euro.
• Bonus Saver.
• Incentive Saver.

You can make payments online 24/7. If you want to pay over the phone, our lines are open 8am to 6pm 7 days a week (closed on UK bank holidays). We'll process your payment during normal banking hours.

Payment limits vary depending on the account you have and on how you request the payment.

Electronic transfers

The cheapest and simplest way of sending money abroad is through an electronic transfer.

You can use the free, fast International Moneymover service which allows you to make overseas money transfers in all major currencies. Correspondent and recipient bank charges may apply.

International Standing Orders

These allow you to make overseas money transfers on a regular basis using your International Currency Account. They're ideal for paying bills, topping up an account in another country or sending money to family on a regular basis. It means you won't forget to make a payment if you’re busy or away. It's as straightforward as setting up a normal standing order.

You can set up the payment online, by phone or in writing. Once the initial instruction has been received it will happen automatically, until you request it to stop.

You can make a payment in 2 ways

• Pay in your own currency, which is then converted into the local currency when it arrives at its destination.
• Convert the amount into the destination currency before paying it overseas.

When you make overseas money transfers online with your International Currency Account, you'll be able to see clearly how much money will leave your account – or how much the recipient will get.

If you need to be sure of how much is leaving your account, then pay in your own currency – but the amount that will be deposited in the account abroad will depend on the exchange rate on the day that payment is made.

If you need certainty about the exchange rate, make your payment in the currency of the destination country. This removes any uncertainty about the exchange rate used by the receiving bank.

Be aware that the overseas banks involved may make a charge, which we have no control over.

Checking exchange rates

If you are sending money abroad, your payment is being converted from one currency into another. Lloyds international banking offers a wide range of foreign exchange services to help make your transfer quick and easy.

To find out the current exchange rates, please contact us. 

You'll need to get information from the person or company that you want to make an overseas money transfer to, about their bank account.

If you’re making a payment online, it's easy to set up the payment details once you have the information you need from the intended recipient.

Or, if you find sending money abroad easier to do by phone or mail then you’ll need to give the details of the recipient and the payment to us. You can start sending money abroad to the new recipient as soon as their details are set up.

You can set up the recipient and make overseas money transfers in online banking. Just log in and follow the instructions.

To make the payment by phone or in writing make sure you include the details of the payment along with the instructions to set up the recipient.

You can print out a receipt for the payment if you make it online, otherwise, check your statements to confirm the overseas money transfer has been made as requested.

Payments are subject to normal account withdrawal restrictions.