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Send money outside the UK or in a foreign currency

What you can do

  • Make payments when you want, 24 hours a day, 7 days a week – payments are processed during normal banking hours.
  • Send up to £100,000 online per day to almost anywhere in the world.
  • See clear confirmation that your payment has been submitted.
  • Make repeated payments easily – we store details securely of anyone you pay, so it’s even simpler if you need to send money to them again.

If you manage your money in multiple currencies, Lloyds Bank may have an International Current Account to suit your needs.

How do I send money online?

If you have a current account with us and you’re registered for Internet Banking, you can log on to send money outside the UK.

You’ll need to have the following information to hand:

  • the recipient's name and address (exact full name or company name)
  • the recipient's IBAN (International Bank Account Number) or account number
  • the name and address of recipient's bank - including the BIC (Business Identifier Code) / SWIFT code / clearing code

Log on to Internet Banking

You can use our payments calculator to get an estimate of how much a payment will cost. Please log on to Internet Banking to access this.

Charges for sending money outside the UK or in a foreign currency

Payment from your account £9.50*
Correspondent Bank Fee
Zone 1 (USA, Canada and Europe (non-EEA))
Zone 2 (Rest of the world)

£12
£20
Electronic payments from outside the UK received into your account other than by SEPA credit transfer**
Up to and including £100: £2*
Over £100: £7*

You will share payment charges with the recipient when the payment is made:

  • in any currency using Internet Banking; or
  • in any currency to a bank account in the EEA; or
  • in any EEA currency to a bank account in Switzerland, Monaco or San Marino.

Sharing the charges means you will pay our charge and the recipient will pay their bank’s charges and any agent bank charges that apply.

If you make any other payment, you can choose either:

a) to share charges; or

b) to pay both our charge and all agent bank charges.

If you choose option b), you will pay our charge and the Correspondent Bank Fee that replaces all agent bank charges. The recipient bank may charge its customer a fee but we cannot provide information about such a fee. This payment type can only be made through one of our branches or Telephone Banking.

* This charge will not apply to payments in pounds sent to a bank account within the EU from our Basic Account or received from a bank account within the EU to our Basic Account. This charge will also not apply to payments from or into an account held with Lloyds Bank International Limited.

** SEPA credit transfers are free of charge.

Standard Exchange Rate for sending money outside the UK or in a foreign currency

Payments are processed using our standard exchange rate for sending money outside the UK or in a foreign currency. The table below provides an indication of 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).

If you hold a Mayfair Private Banking Service account you may receive a different exchange rate. Please contact your Private Banking and Advice Manager for more details.

Payment Value in GBP
Maximum current percentage difference between our standard exchange rate for sending money outside the UK or in a foreign currency and the wholesale rate
0 - £25,000
3.20%
£25,000.01 - £75,000 2.40%
£75,000.01 - £250,000 2.00%
£250,000.01 and above 1.50%

The percentages outlined above are indicative, for information only and can change at any time.

International Drafts and Foreign Cheques

International drafts
£20***

Foreign currency cheques paid into your account
Pounds value of £100 or less: £5
Pounds value more than £100: 0.25% of the total pounds value (the minimum charge is £8 if we negotiate the cheque and £15 if we collect the cheque; the maximum charge is £80)

Negotiating or collecting a cheque - what's the difference?

If we negotiate the cheque, we will buy it from you by paying you the amount of the cheque or the equivalent in pounds on the working day after we receive it using our standard exchange rate for negotiated cheques.

If we collect the cheque, we send it on your behalf to the paying bank. We may use an agent to do this. We will pay the amount of the cheque or the equivalent in pounds using our standard exchange rate for the payment into your account on the day we get payment from the paying bank. The time this takes will vary depending on the paying bank or its country.

Please visit one of our branches for more information on international drafts or foreign currency cheques. Alternatively you can call us on 0345 300 0000.

*** If you cancel an international draft, we will make refund conversions using our standard exchange rate for international drafts on the day we receive the money.

Your payment Cut-off time
Payment in euro made through one of our branches or by Telephone Banking No earlier than 2pm and no later than 3pm
Payment in a currency other than euro made through one of our branches or by Telephone Banking 3pm
Payment in any currency made through Internet Banking 3pm

The table below gives you information about the time the payment will take to reach the recipient's bank provided you have given us the instruction on a working day before the cut off time:

Currency and destination Delivery times
Payments in euro to another EEA country, Monaco, Switzerland or San Marino
No later than the next working day
Any other currency to EU and EEA countries, North America, Canada, South Africa, Australia, New Zealand, Middle East and the Far East Generally no later than four working days
Any currency to any other country Should take no longer than 14 working days
SEPA Direct Debit Scheme On the date we have been given for payment unless this is a public holiday in the other bank’s country (in which case, this will be on the next working day)

How much can I send?

You send money outside the UK or in a foreign currency online, in branch and through Telephone Banking.

You can make payments up to the following amounts:

Online: you can send up to £100,000 per day through Internet Banking.

In branch: when you make a payment in branch there is no maximum limit. If you want to send over £100,000, we will call directly to our dedicated currency trading team for you and help you to get an exchange rate you are happy with.

Telephone Banking: you can send up to £5,000 through Telephone Banking.

The minimum payment amount is £1.01, whether made online, in branch or through Telephone Banking.

Receiving a payment

Payments can be made to your account in either pounds or foreign currency.

For your payment to be transferred as quickly as possible, please ask the overseas bank to follow the instructions below.

How to send the payment - You must instruct the overseas bank to send funds via SWIFT (Society for Worldwide Interbank Financial Telecommunication).

Where to send the payment - Quote Lloyds Bank with the swift code LOYDGB2L (Lloyds Bank is part of Lloyds Banking Group).

Account details you should use - Your account number, sort code of your account, your IBAN (International Bank Account Number) and BIC (Business Identifier Code) of the account you want crediting. These are the same as your sort code and account number but in a format recognized abroad.

You can find your IBAN and BIC by logging on to Internet Banking, selecting an account from “Your Accounts” then clicking on the ‘Show IBAN / BIC’ link.

The following fees apply to electronic payments received from outside the UK other than by SEPA credit transfer*:

Receiving a payment up to and including £100: £2
Receiving a payment of over £100: £7

We'll convert the money you've received into pounds on the day we pay it into your account using our standard exchange rate for sending money outside the UK or in a foreign currency.

Please be aware that the bank sending the payment may use an agent bank to pass the payment on to Lloyds Bank. The agent bank may make a charge for their service, which will be deducted from the payment sent. This will reduce the payment Lloyds Bank receives.

* SEPA credit transfers are free of charge.

This fee will not apply to payments in pounds received from a bank account within the EU to our Basic Account.

International Payments Standard Exchange Rate

We'll convert the money you've received into pounds on the day we pay it into your account using our standard exchange rate for sending money outside the UK or in a foreign currency.

The table below provides an indication of the current percentage difference between our standard exchange rate for sending money outside the UK or in a foreign currency and the rate at which we buy and sell currency in the foreign exchange markets (the wholesale rate).

If you hold a Mayfair Private Banking Service account you may receive a different exchange rate. Please contact your Private Banking and Advice Manager for more details.

Payment Value in GBP
Maximum current percentage difference between our standard exchange rate for sending money outside the UK or in a foreign currency and the wholesale rate
0 - £25,000
3.20%
£25,000.01 - £75,000 2.40%
£75,000.01 - £250,000 2.00%
£250,000.01 and above 1.50%

The percentages outlined above are indicative, for information only and can change at any time.

What you need to make a payment

To create a recipient or make a payment, you’ll need to give us this information:

  • the recipient’s name and address (exact full name or company name)
  • the recipient’s IBAN (International Bank Account Number) or account number
  • the name and address of the recipient’s bank – including the BIC (Business Identifier Code)/SWIFT code, and/or the clearing code
  • the payment currency (for example, US dollars).

Please get this information from your recipient.

Why you need to give us your recipient’s BIC and IBAN

When you make a payment to a recipient in the EU (Europe) and EEA (European Economic Area), you need to provide us with the BIC and IBAN. If you don’t include them, we might not be able to process it.
Please see our current list of countries requiring an IBAN.

What is an IBAN?

IBAN stands for ‘International Bank Account Number.’ IBANs identify banks according to international agreement. IBANs are mandatory for EU (European) and EEA (European Economic Area) countries. Each country has a different number of characters in their IBANs.

This is an example of an IBAN for the United Kingdom:

GB29NWBK60161331926819.

An IBAN has four components and is a mixture of alpha and numeric characters:

  • an ISO country code
  • bank and branch identifier
  • beneficiary account number
  • two check digits.

The two check digits in the IBAN help banks verify that your payment details are correct.

When will the money arrive?

Please see our Payment Timescales at 'Sending money outside the UK or in a foreign currency'.

When will the money be taken from my account?

Money will only be taken from your account once we have processed your payment.

Payments made before 3pm on a business day will be debited that same day. For payments made on or after 3pm on a business day, or at any time on a non-business day, your account will be debited on the next business day.

When can I make a payment outside the UK?

You can make a payment 24 hours a day, 7 days a week, but it will only be processed during normal banking hours.

Money will only be taken from your account once we have processed your payment.

Payments made before 3pm on a business day will be debited that same day. For payments made on or after 3pm on a business day, or at any time on a non-business day, your account will be debited on the next business day.

How much does it cost to make a payment outside the UK?

The Lloyds Bank fee is £9.50* regardless of the amount you send or the way you make the payment. If you share the charges for sending money outside the UK or in a foreign currency with the recipient, you will only pay the Lloyds fee and the recipient will pay their bank’s charges and any agent bank charges that apply.

If you choose to pay both our charge and all agent bank charges, you will pay our charge and the Correspondent Bank Fee that replaces all agent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank:

Zone
Correspondent Bank Fee
Zone 1 (USA, Canada and Europe (non-EEA))
£12
Zone 2 (Rest of the world)
£20

The exchange rate will depend on market exchange rates and the amount you send. You can use the Online Payments calculator to get a payment illustration, but please note that you’ll only see an estimated cost.

How do I get an exchange rate illustration?

You can get an exchange rate illustration by using the Online Payments calculator, but this will only be an estimate.

Before a payment is confirmed online, the agreed and final rate will be shown.

Is there a minimum/maximum payment amount per transaction?

The maximum amount for payments made online is £100,000 per transaction. The minimum payment amount is £1.01 per transaction, whether made online, in branch or through Telephone Banking.

What if I make a payment request then want to change or cancel it?

Sorry, you can’t change or cancel your payment transaction request online. Please call us on 0345 300 0101Call telephone number 0345 300 0101 as soon as possible, 8.30am-5pm, Monday-Friday. We can’t guarantee that we’ll be able to change or cancel the transaction. If we are able to change or cancel it for you,  you may lose money through the differences in exchange rates.

Who is responsible for payment charges?

If you send your payment through Internet Banking, you’ll share the charges for sending money outside the UK or in a foreign currency  with the recipient - you will only pay the Lloyds Bank charge and the recipient will pay their bank’s charges and any agent bank charges that apply. More details about charges for sending money outside the UK or in a foreign currency can be found in the ‘How much do payments cost’ section.

There are some circumstances when you can choose to pay both our charge and all agent bank charges. In these circumstances, you will pay the Lloyds Bank charge and the Correspondent Bank Fee that replaces all agent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. This type of payment can be made in branch or over the phone.

I don't want any bank charges to be taken from the money I send my recipient. How can I make sure that my recipient receives the exact amount of money I send them?

There are some circumstances when you can choose to pay both our charge and all agent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. More details about charges for sending money outside the UK or in a foreign currency can be found in the ‘How much do payments cost’ section.

Need more information on or help with charges for sending money outside the UK or in a foreign currency?

If you need information about charges for sending money outside the UK or in a foreign currency, contact the International Helpdesk on 0345 300 0101Call telephone number 0345 300 0101 between 8.30am-5pm, Monday-Friday. You can also visit your nearest branch.

* This fee will not apply to payments in pounds sent to a bank account within the EU from our Basic Account or to payments from an account held with Lloyds Bank International Limited.