![]() ![]() Transfers over 100 GBP - 7GBP receiving fee Transfers under 100 GBP - 2GBP receiving fee We’ll look at the Lloyds international transfer exchange rate in more detail in a moment - first, here are the Lloyds bank international transfer fees you should know about: Transfer typeįree to receive euro payments from the EEA or UK However, because there can still be a charge rolled into the exchange rate being used, this doesn’t actually mean you don’t pay for your transfer at all. Traditional banks often use low transfer fees - or even charge no transfer fee at all. The total amount you’re charged for your transfer will depend on where you’re sending money, and the currencies involved. When you make an international transfer with lloyds the total amount you pay could include 3 different charges: As these providers are built for international transfers, the user interface is typically intuitive - making getting started a breeze. If you decide to use a specialist provider for your international money transfer, you’ll be able to set up your payment entirely online or using an app. ![]() Many transfers with Wise arrive instantly, for example, and almost all are received within 24 hours, regardless of the time of day they’re processed. Specialist providers can often be more flexible on delivery times because they don’t rely on old school payment processing systems. To get your money there on the next working day, you’ll have to arrange your payment no later than 2pm or 3pm on a banking day. That means that even though Lloyds has no transfer fee for this payment, you’ll still pay a total of 149.54 GBP in markups.įor payments in euros to the EEA, Lloyds is fairly competitive on transfer time, as long as you hit their cut-off. Lloyds on the other hand adds a 3.55% exchange rate markup. Wise uses the mid-market exchange rate and a transparent transfer fee. You could save 134.66 GBP compared to using Lloyds Bank to make your transfer. In our example, Wise is the cheapest when it comes to total costs. *Fees and rates correct at time of research - 24th November 2021 ![]() In this example, we’re sending an online payment to a friend, and we want them to receive 5,000 EUR in the end: Provider Let’s start with a comparison of Lloyds against a few specialist providers. Lloyds international money transfer comparison Services like Wise, Western Union and OFX can often be cheaper, faster, and more intuitive to use. Planning to transfer money abroad with Lloyds? This guide tells you all you need to know about Lloyds international transfers including: how much they cost, how long they take, and how to make one.ĭespite having over 300 years of experience in banking, Lloyds may not be the best way to send money abroad. ![]()
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