Receiving money from outside the UK or in a foreign currency

If you are receiving money from outside the UK or in a foreign currency and need more information, this page is the place to start.

On this page

What details do I need?

What exchange rate will I receive?

How do I find my IBAN/BIC?

Receiving a cheque in a foreign currency

What fees are applied?

Frequently asked questions

What details do I need?

Electronic payments can be made to your account in either pounds or a foreign currency. For your payment to be transferred as quickly as possible, your'll need to provide the sender your:

  • Full name
  • Address
  • IBAN
  • BIC

How do I find my IBAN/BIC?

Your IBAN and BIC work in the same way as your sort code and account number but are in a format recognised abroad. You'll need to provide the sender your BIC and IBAN to allow the transaction to be processed.

How you find your IBAN and BIC depends on whether you are using our Mobile app or Internet Banking.

  • 1. Log on to our Mobile Banking app

    1. Log on to our Mobile Banking app

    2. Click on the three dot menu next to the account you want to use

    2. Click on the three dot menu next to the account you want to use

    3. Select "Send bank details"

    3. Select "Send bank details"

    4. All done! You can now provide your IBAN and BIC to your sender

    4. All done! You can now provide your IBAN and BIC to your sender

    Need to download our app?

     

    Android devices

    If you have a compatible Android mobile phone or tablet you can download our app from Google Play.

     

    Apple devices

    If you have a compatible iPhone or iPad you can download our app from Apple App Store.

  • 1. Log on to Internet Banking and select an account from “Your Accounts”

    1. Log on to Internet Banking and select an account from “Your Accounts”

    2. Click on the ‘View IBAN / BIC’ link

    2. Click on the ‘View IBAN / BIC’ link

    3. All done! You can now provide your IBAN or BIC to your sender

    3. All done! You can now provide your IBAN or BIC to your sender

    Log on to Internet Banking

What fees are applied?

Our fees

The following fees apply to electronic payments received from outside the UK or in a foreign currency.

Payments in euro received from within the UK, EEA or via SEPA Credit Transfer

No fee

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 receiving money from outside the UK or in a foreign currency.

Other fees

Please be aware that the overseas 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.

Since leaving the EU, agent bank fees may also now apply to the following payments received:

  • from EEA countries (in pounds or EEA currencies), and
  • from within the UK in an EEA currency

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

What exchange rate will I receive?

Payments are processed using our standard exchange rate and we will only change your payment into pounds when we receive it. Until then the exchange rate is indicative, for information only and can change at any time.

To get an indication of the exchange rate you may receive, you can either phone us on 0345 300 0000, or call into your local branch. Lines are open 8am – 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.

Our standard exchange rate includes a margin. The table below provides an indication of the margin which is the difference between our standard exchange 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 standard exchange rate and margin. Please contact your Private Bank Manager for more details.

Standard Exchange Rate

Payment Value in GBP

Current margin for receiving money from outside the UK or in a foreign currency 

Payment Value in GBP

0 - £10,000

Current margin for receiving money from outside the UK or in a foreign currency 

3.55%

Payment Value in GBP

£10,000 - £50,000

Current margin for receiving money from outside the UK or in a foreign currency 

3.55% - 2.40%

Payment Value in GBP

£50,000 - £100,000

Current margin for receiving money from outside the UK or in a foreign currency 

2.40% - 2.10%

Payment Value in GBP

£100,000 - £250,000

Current margin for receiving money from outside the UK or in a foreign currency 

2.10% - 1.50%

Payment Value in GBP

£250,000 and above

Current margin for receiving money from outside the UK or in a foreign currency 

1.50%

Margin Calculator

I am expecting a payment of:

£

Payment margin:
##marginrec##%

For example:

A person in the United States makes a payment of $1,000 to your account. If the current GBP/USD wholesale rate is 1.2600 for example, the Lloyds Bank standard exchange rate applied to the incoming payment would be 1.3047, based on our current margin of 3.55%. In this example if we received $1,000 this means £759.44 would be credited to your account after our £7 fee had been charged.

Please note: a live wholesale rate is used to calculate the standard exchange rate and together with the percentages outlined above, are indicative, for information only and can change at any time.

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 amount Lloyds Bank receives.

Frequently asked questions

Frequently asked questions

Take a look at our frequently asked questions to help you find simple answers to some common queries.

Read our frequently asked questions

More ways to manage your money

I am receiving a cheque in a foreign currency

If you want to pay in a foreign currency cheque you have received, you must sign your name on the back of the cheque and call in to branch. We generally try to “negotiate” a cheque but if we can’t or you ask, we can “collect” it.

We may not be able to accept cheques in all foreign currencies

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

Negotiating - We will usually pay the amount of the cheque into your account by the sixth working day after we receive it. If it is a foreign currency cheque we will convert it into pounds using our standard exchange rate for the payment.

Collecting - We will pay the amount of the cheque into your account when we receive payment from the paying bank. The time this takes can vary depending on the paying bank or its country as we will send the cheque to them. We may use an agent to do this. When we receive payment from the paying bank, we will convert it to pounds, if applicable, using our standard exchange rate for the payment. You can ask us for details.

Need more details?

If you need more details about depositing a cheque in foreign currency or about the standard exchange rates, you can visit one of our branches or call us on 0345 300 0000. Lines are open 8am – 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.

Sending money outside the UK or in a foreign currency

Learn more about sending money from outside the UK or in a foreign currency.

Manage multiple currencies

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

Send regular payments

If you need to send regular payments to the EEA from your current account in euro, SEPA Direct Debit may be an option for you.

Terms and conditions

Personal Banking Terms and Conditions and Banking Charges (PDF, 429kb)

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.

We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.

Please note: Our Mobile Banking app is supported by devices running iOS or Android. The app is not compatible with some older versions of the operating systems – check the App Store or Google Play for more details.

If your phone has been subjected to unauthorised modifications (e.g. jailbroken or rooted) the app will not be compatible with your device.

Android/Google Play is a trademark of Google Inc. Apple, the Apple logo, Touch ID and Face ID are trademarks of Apple Inc, registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

It may be unlawful to use some Internet and Mobile Banking services in some countries. Please check before you travel. Services may be affected by phone signal and functionality.