How long do international transfers with Revolut take in the UK?
How long does an international transfer with Revolut take? Find out average Revolut transfer times for sending money outside the UK here in our handy guide.
There are lots of reasons you might need to send money abroad from the UK. Whether you're transferring just a few pounds or a whole lot more, you need to know a little about how international money transfers work.
Halifax processes international money transfers differently depending on where you’re sending your money. They might use a different system to send money to an EU-based bank account, for example, than for a transfer headed to America.
In this guide, we’ll go over everything you need to know about how to make a transfer with Halifax, the fees involved, and how long it takes.
Also, there are alternative ways to transfer money abroad, like with the money services provider Wise. With Wise, you can send money to more than 160 countries.
Please see the Terms of Use for your region.
You can make international transfers through Halifax Mobile Banking app and Online Banking. You can also make an international payment over the phone but there’s a £10,000 limit.¹ And you can also go in branch and talk with the teller to send your money abroad.
If you need to transfer a large amount of money, it's worth talking to a Halifax advisor in advance to agree how best to process the transaction.
Here’s a step-by-step guide on how to make an international transfer with Halifax Mobile Banking app:²
Here’s how to send money with Halifax Online Banking:²
Depending on the recipient’s country, here are a few key bank details for sending money abroad:¹
📚 Read more: What bank details are needed to receive money in the UK? |
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Before you make an international transfer with Halifax, it’s a good idea to understand the fees involved. Let’s look at the main charges and dig a bit deeper into additional costs.
Halifax Bank Transaction | Regular Fee |
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Incoming international transfer¹ | SEPA payments
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Outgoing international transfer¹ | Payments in euro from your account
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If you’re looking to cancel a payment and it’s still possible from the bank’s end, here’s what Halifax states:²
“If we send a payment outside the UK or in a foreign currency we can only stop or change it if the other bank agrees. We may charge you the reasonable costs of cancelling or changing a payment. We'll tell you what these are when you ask us.”
Also, if you value transparent fees and want to avoid exchange rate markups, consider sending money with Wise. You’ll get a low transfer fee, no hidden costs, and the fair mid-market exchange rate.
Learn more about international transfers with Wise
Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.
Don't forget that as well as any flat fees applied, you need to know if the exchange rate used is fair. Many banks add a margin or a spread to the mid-market exchange rate, which makes sending money more expensive.
Here’s what you can find on Halifax’s terms and conditions:²
“Our standard exchange rate includes a margin. This is the difference between our standard exchange rate and the rate at which we buy and sell currency in the foreign exchange markets. You can find our current exchange rates by calling us or asking in branch. The exchange rate changes to reflect currency market movements, so we won't be able to confirm the actual rate until we receive the payment.”
The small print confirms that Halifax does add a margin to the exchange rate, meaning you have to consider this cost when calculating the total fees of the transfer.
The margin Halifax adds can be up to 3.55%, depending on the payment value in GBP that you’re sending. Here’s how the margin rate changes based on the amount:¹
Payment Value in GBP | Margin range between Halifax’s standard exchange rate and the wholesale rate |
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0 - £10,000 | 3.55% |
£10,000 - £50,000 | 2.40% - 3.55% |
£50,000 - £100,000 | 2.10% - 2.40% |
£100,000 - £250,000 | 1.50% - 2.10% |
£250,000 and above | 1.50% |
Payments in euros to EU accounts should arrive no later than the next working day, payment in other European currencies within Europe can take up to 4 working days.¹
Payments in any currencies to North America, Canada, South Africa, Australia, New Zealand, Middle East and the Far East take up to 4 working days to complete. Transfers to any other countries takes up to 5 working days.¹
The bank doesn’t offer a way to speed up payments. But, it's very important to note the cut off times for payments.
If you make a transfer request before 3:00 pm on a working day, the payment is sent on the same day. However, when using the phone or in branch options for your transfer, the cut off time could be 2:00 pm for some payments.²
If you have specific questions about your transfer, there are several different ways you can talk to the advisors at Halifax:
Want low fees, great exchange rates and an easy way to send money worldwide? Open a Wise account online in just a few clicks, and you can start sending money to over 160 countries.
You can send payments worldwide for low fees and mid-market exchange rates. There’s even a Wise card for spending in over 150 countries, where your pounds are automatically converted to the local currency at a great rate.
There aren’t any monthly fees with Wise, and you can open an account for free.
Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees. Eligibility is subject to verification of customers' identity.
------Unfortunately, there are a few pitfalls and hidden fees when it comes to making international money transfers with standard money transfer providers, which can make it expensive and lead to nasty surprises.
Wherever you’re transferring your money to, it’s smart to do your research in advance, to make sure you get the best deal for your situation.
Sources used:
Sources last checked on date: 28-Sep-2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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