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.
What fees are applied?
Our fees
The following fees apply to electronic payments received from outside the UK or in a foreign currency.
|
|
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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.
Payment Value in GBP |
Current margin for receiving money from outside the UK or in a foreign currency |
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Payment Value in GBP0 - £10,000 |
Current margin for receiving money from outside the UK or in a foreign currency3.55% |
Payment Value in GBP£10,000 - £50,000 |
Current margin for receiving money from outside the UK or in a foreign currency3.55% - 2.40% |
Payment Value in GBP£50,000 - £100,000 |
Current margin for receiving money from outside the UK or in a foreign currency2.40% - 2.10% |
Payment Value in GBP£100,000 - £250,000 |
Current margin for receiving money from outside the UK or in a foreign currency2.10% - 1.50% |
Payment Value in GBP£250,000 and above |
Current margin for receiving money from outside the UK or in a foreign currency1.50% |
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.
More ways to manage your money
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.