Lloyds international transfer in the UK: how it works, fees, and rates

Gert Svaiko

If you bank with Lloyds in the UK, you’ll find several options for transferring money abroad. However, it’s important to look at the details too as the fees, rates, and additional charges can quickly ramp up the cost for a transfer.

And you may find you could get a better deal sending money abroad with Wise. But more on that later.

Here’s a guide to how Lloyds’ international payment process works, as well as what costs are involved.

Example: 1,000 GBP to EUR bank account in Spain

Let’s start by looking at a theoretical online bank transfer sending £1,000 from the UK to a euro bank account in Spain.

The cost of sending £1,000 to a friend in Spain

You can see that despite Lloyds not charging a transfer fee for euro payments,¹ the additional cost from a worse exchange rate makes a difference. Lloyds specifically notes that for amounts less than £10,000, the markup is 3.55%.¹ In addition, there are normally correspondent and recipient banks who also charge fees. Lloyds notes a flat correspondent bank fee for that – £12 for transfers made to the US, Canada and Europe, £20 for transfers to the other countries and regions.¹

Those costs, if you start adding them up, are likely higher than you initially thought. Take that into account when you make your decision.

If you value transparency and don’t want to pay for exchange rate mark ups, consider checking out Wise. You can send and hold money in multiple currencies around the world, with low, transparent fees and the fair mid-market exchange rate.


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.

*Savings based on £250 price point comparison when sending AUD, EUR, INR, USD.

How do you make an international transfer with Lloyds?

You can make an international bank transfer using their online service, mobile app, over the telephone, or initiate the transfer from in branch.

Online, you’ll be able to follow the instructions onscreen to make your payment. From ‘More actions’, choose ‘Payments and Transfers’ and then ‘Send money outside the UK’. Then either select a payee you’ve paid before or add details for a new one. Once the details are in place, you should be able to see an estimate of the cost, before you hit send.²

What do you need to send money abroad with Lloyds?

To make an international money transfer with Lloyds, you’ll need the following information:¹

  • The recipient’s name
  • The recipient’s address
  • The recipient’s IBAN or other international account number
  • The recipient bank’s SWIFT/BIC (this SWIFT/BIC finder can help you out if you haven’t been given it)

You’ll need additional details for sending money outside the EEA and the UK

  • The recipient bank name and address
  • Clearing code
  • Description for the payment

How long does it take to transfer money abroad with Lloyds?

If you’re making a payment in euros within the EEA (European Economic Area), it should be in the recipient bank account by the next working day - although if you make the transfer later than 3:00 pm, you might have to wait an extra day. Payments in other currencies within the EEA might take up to 4 working days.¹

For payments outside the EEA, there might be a longer wait - Lloyds estimates it should take no longer than 4-5 days.¹

Is there any way to make a faster transfer for an extra fee?

Lloyds offers an express service for international transfers if you have a business account, but the same service isn’t available for standard international transfers from personal accounts. This service costs £28.⁴

Are there any transfer limits with Lloyds?

There’s a transfer limit of £100,000 per day if you use Lloyds’ online banking to set up a payment. However, there’s no limit when sending money from in branch

Receiving money from abroad with Lloyds

If you want to receive money from abroad to your Lloyds bank account, here’s what you need to give to the sender:³

What are the fees and rates for an international transfer with Lloyds in the UK?

The fees and costs of your transfer can be affected by the type of transfer you’re making, the currency pairs the transfer is made in, and several other aspects.

Lloyds international transfer fees for SEPA and other payments

International bank transfers can be a costly affair. Because a number of different banks might be involved in the transfer, the precise cost isn't always clear and can vary. But here’s a summary of the costs that Lloyds Bank will charge in most cases.

Lloyds international transfersRegular fees
Incoming international transfer³
  • SEPA transfers in euro: no fee
  • Non-SEPA transfers up to £100: £2
  • Non-SEPA transfers above £100: £7
Outgoing international transfer¹
  • Transfers in euro: no fee
  • Other international transfers: £9.50
  • Correspondent bank fee of £12 or £20
Additional fees may apply
  • See Additional Fees section below

Depending on the precise details of your account and your transfer, the costs might not be exactly the same as those listed above. Make sure to check the fees and charges before confirming the transfer.

Lloyds exchange rates

The real cost of your international transfer also depends on what exchange rate is used. When banks make an international transfer, they can set the exchange rate themselves. And Lloyds uses its own standard exchange rate.¹

Lloyds doesn't guarantee exactly what this rate will be, although they do specify the maximum amount by which this rate will differ from the ‘wholesale rate’ that banks use to trade between themselves.¹

These figures are subject to change too, though. The latest ones as currently available online are as follows:¹

Transfer amountMark up for sending money in foreign currency outside the UK
Up to £10,0003.55%
Up to £50,0003.55% - 2.40%
Up to £100,0002.40% - 2.10%
Up to £250,0002.10% - 1.50%
More than £250,0001.50%

What that means is that when Lloyds makes your transfer, they might mark up the exchange rate by as much as 3.55%.

If you check that rate against the exchange rate on Google or other reputable currency converters, don’t be surprised if it’s not as good: the rate you’ll see on those websites is the mid-market exchange rate - a fair rate to use, but not the one generally given by banks to customers.

Or, if you’re looking for an easier way - choose an international transfer provider like Wise which uses the mid-market exchange rate every time, with no markups and no hidden fees.

Sign up 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.

Additional fees from Lloyds

That’s not all the fees and costs you might face. Often, when international transfers are made, multiple banks end up charging a fee - the recipient’s bank might, as well as any intermediary banks that are involved.

With Lloyds, you will share payment fees with the recipient when the payment is made using online banking (any currency) and in any currency to a bank account in the UK and EEA.¹

You can check some additional fees in the table below:

International transfersAdditional fees per payment
Sending/recipient bank and/or intermediary bank(s)¹
  • BEN- your recipient will pay the correspondent bank fee(s)- £12 - £20
  • SHA- your recipient will pay the correspondent bank fee(s) but all other transfer-related fees will be shared
  • OUR- you’ll pay the correspondent bank fee(s)- £12 - £20
Amending or stopping a transfer⁵
  • “If we are able to change or cancel it for you, you may lose money through the differences in exchange rates
Tracking the status of the transfer⁶
  • “If for any reason the money doesn't arrive, please tell us as soon as possible and we'll try to trace it. You may be charged for this service.”

Contact / Help - More questions around your transfer?

Here are some ways to get in touch with Lloyds:⁷

  • Chat or send a message through online banking and the banking app
  • Call 0345 300 0000 in the UK or +44 1733 347007 from abroad
  • In person in branch

International money transfers can seem daunting, and the exact costs are often hard to find out. However, once you choose to make your transfer, make sure you know how much it’ll cost you - and how much money will actually end up being transferred to the recipient.

Also, compare the costs of sending money with Lloyds against the low fees and convenience of the Wise's international transfer service - the smart and easy way to manage your money across borders for less.

Sources used:

  1. Lloyds - International payments
  2. Lloyds - Internet banking
  3. Lloyds - Receiving payments from abroad
  4. Lloyds - International services rates and charges (business)
  5. Lloyds - International transfers FAQ
  6. Lloyds - Money transfers
  7. Lloyds - Contact us

Sources last checked on date: 23-Mar-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.

Money without borders

Find out more

Tips, news and updates for your location