• International Money Transfers

    If you need to make payments abroad, or send money to your own accounts overseas, our free overseas money transfers service makes sense.

    Recipient and Corresponding Banks abroad may charge a fee for receiving payments. Find out how the process works.

  • You may need to make overseas money transfers for a variety of reasons. This service is particularly useful for people:

    • Topping up a bank account in a different country.
    • Paying bills.
    • Sending money to family.
    • Making purchases.
    • Running a home or a holiday home.
    • Working or living abroad.
    • About to move to the UK.
    • Buying or investing in a property abroad.
    • Travelling frequently.
    • With dependants in different countries.

    If you are sending money abroad for the first time, you could be worried that the process is complicated and expensive. But for Lloyds Bank International Banking customers, making an overseas money transfer is simple and straightforward – and, it's free with our International Moneymover Service. Recipient and Corresponding Banks abroad may charge a fee for receiving payments. Whilst our services will be available to many of our customers, there are countries where, due to legal or regulatory restraints, we cannot provide them. This step-by-step guide explains how the process works.

  • Sending money abroad step-by-step

    1. Assess your needs

    If you know you will need to send money abroad on a regular basis, it makes sense to set up an international bank account. You can bank in different major currencies with flexibility.

    You need to hold one of these Lloyds Bank international accounts:

    • International Current Account in Sterling, US Dollars or Euros
    • Savings accounts in all currencies (Bonus Saver and Incentive Saver)
    2. Think about how you want to make payments

    If you don’t want to queue in a branch every time you need to send money, a Lloyds Bank international account lets you make payments online or on the phone, 24 hours a day, 7 days a week. (this service is unavailable online for Premier International Accounts opened in Sterling)

    With a Lloyds Bank currency account, you can send up to £30,000 a day to most countries in the world - with a maximum of £10,000 for each transaction.

    3. Understand the various methods available for sending money overseas and weigh up the pros and cons.

    There are several options to choose from:

    Electronic transfers

    The cheapest and simplest way of sending money abroad is through an electronic transfer. If you have an International Currency Account with Lloyds Bank, you can use the free, fast International Moneymover Service which allows you to make overseas money transfers in all major currencies. Recipient and Corresponding Banks abroad may charge a fee for receiving payments.

    International Standing Orders

    These allow you to make overseas money transfers on a regular basis using your International Currency Account. They are ideal for paying bills, topping up an account in another country or sending money to family on a regular basis. It means you won't forget to make a payment if you’re busy or away. It's as straightforward as setting up a normal standing order. You can set up the payment online, by phone or in writing and once the initial instruction has been received it will happen automatically, until you request it to stop.

    International Drafts

    These are the international equivalent of a cheque. They’re useful if you don't have your recipient’s bank account details. International Drafts are sent through the mail, which often takes longer than electronic transfers.

    The bank account that the draft is paid into has to be in the same name as the recipient on the draft.

    Weigh up the pros and cons, together with the costs of the different methods for sending money abroad.

    In most circumstances, using electronic payments will be the quickest, cheapest and easiest method of sending money abroad for both one-off and regular payments.

    4. Check the exchange rate.

    If you are sending money abroad, your payment is being converted from one currency into another. Lloyds Bank international banking offers a wide range of foreign exchange services to help make your transfer quick and easy.

     To find out the current exchange rates please contact us.

    5. Decide on the currency you want to use.

    You can make a payment in two ways

    • Pay in your own currency, which is then converted into the local currency when it arrives at its destination
    • Convert the amount into the destination currency before paying it overseas

    When you make overseas money transfers online with your international currency account, you'll be able to see clearly how much money will leave your account – or how much the recipient will get.

    If you need to be sure of how much is leaving your account then pay in your own currency – but the amount that will be deposited in the account abroad will depend on the exchange rate on the day that payment is made.

    If you need certainty about the exchange rate, make your payment in the currency of the destination country. This removes any uncertainty about the exchange rate used by the receiving bank.

    Please be aware that the overseas banks involved may make a charge, which we have no control over.

    6. Gather the information you need from the intended recipient.

    You'll need to get information from the person or company that you want to make an overseas money transfer to, about their bank account.

    7. Set up the payment details.

    If you’re making a payment online, it's easy to set up the payment details once you have the information you need from the intended recipient (see step 7).

    Watch a demonstration of how to create a new recipient online.

    Alternatively, if you find sending money abroad easier to do by phone or mail then you’ll need to provide the details of the recipient (see step 7) and the payment to us. You can start sending money abroad to the new recipient as soon as their details are set up.

    8. Make the payment.

    If you've got a currency internet banking account, it’s really easy to make overseas money transfers once you have set up the recipient. Just login and follow the instructions. This service isn't available for Premier International Accounts opened in Sterling.

    Watch a demonstration of how to create a new recipient online.

    To make the payment by phone or in writing make sure you include the details of the payment along with the instructions to set up the recipient (see steps 7 and 8). You can print out a receipt for the payment if you make it online, otherwise, check your statements to confirm the overseas money transfer has been made as requested.

    Payments are subject to normal account withdrawal restrictions.

    9. Need to repeat a payment?

    Your recipient’s details are saved, so it's easy to make a payment again. If you need to make a payment regularly to the same recipient, consider setting up an International Standing Order.

    10. Need to stop a payment?

    We can’t guarantee the cancellation as your payment may already have been made, but if you ask us to stop a payment, we will do our best.

    You could receive less than the original amount of the payment, because of adverse exchange rate movements. There is a charge of £20 per payment.

    11. What you should do if the money doesn't arrive

    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.

  • Don't forget...

    When you’re sending money overseas, there are a few things you need to be aware of:

    Time zones

    Your payments are only handled by banks during their normal working hours – and the receiving bank may be in a different time zone. This can affect how quickly your payment is handled. You may need to take this into account if you need to meet a payment deadline.

    Costs and charges

    Sending money overseas using the Lloyds Bank International Moneymover Service is free. But, overseas banks handling the payments may levy charges that we have no control over.

    Delays

    Payments to banks in the EEA (in euro or another EEA currency)
    By law, the bank receiving the payment from us must pay it to its customer’s account on the day it receives it from us.

    For Payments outside the EEA, Monaco and Switzerland or in non-EEA currencies While this will usually be within five working days, we cannot control exactly when the foreign bank will get it. This will depend on the banking practice of that country but should be no longer than 14 working days.

    For Payments outside the EEA, Monaco and Switzerland or in non-EEA currencies
    While this will usually be within five working days, we cannot control exactly when the foreign bank will get it. This will depend on the banking practice of that country but should be no longer than 14 working days.

  • Receiving money from abroad

    If you're being sent money from overseas, it’s cheaper and easier to receive the money through an electronic bank transfer. So, make sure you provide your bank details to the sender.

    If you’re sent a cheque or a draft, you can pay it into your account. Cheques or drafts can be processed as either:

    • funds by negotiation
    • funds for collection

    The costs for handling them (and how quickly you can access the money) will depend on how they’re treated.

  • Funds by negotiation

    Cheques or drafts by negotiation will be credited into your account in a few days, minus charges. This service can only be used if the draft or the cheque is in the local currency. Cheques can still be unpaid by the bank, at a later date.

  • Funds for collection

    If the payment is from a high-risk country or isn't in the sender's local currency, it’s likely the payment will be sent for collection. This means your account won't be credited until we’re certain the money will be paid. The time this takes will depend on the country involved – it can take several weeks.

    For more information on charges for sending and receiving overseas money transfers with Lloyds Bank international banking click here.

  • How we can help

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    Moving abroad

    Planning on working or retiring overseas? We could help you keep your finances running smoothly.

    Moving abroad (Moving abroad)

Our International services are offered by Lloyds Bank International Limited, Lloyds Bank (Gibraltar) Limited & Lloyds Investment Fund Managers Limited. See company Information. Whilst our services will be available to many customers, there are countries where, due to legal or regulatory restraints, we cannot provide them.

Rules and regulations made under the UK Financial Services and Markets Act 2000 for the protection of depositors and investors, including the Financial Services Compensation Scheme, do not apply to the financial services business of companies within the Lloyds Banking Group carried out from offices outside of the United Kingdom.

Lloyds Bank International Limited. Registered office and principal place of business: P.O. Box 160, 25 New Street, St. Helier, Jersey JE4 8RG. Lloyds Bank International Limited is incorporated in Jersey, No. 4029 and is regulated by the Jersey Financial Services Commission to carry on deposit-taking business under the Banking Business (Jersey) Law 1991 and investment and general insurance mediation business under the Financial Services (Jersey) Law 1998. Lloyds Bank International Limited subscribes to the Jersey Code of Practice for Consumer Lending and has also notified the Jersey Financial Services Commission that it carries on money service business.

The paid up capital and reserves of Lloyds Bank International Limited was £895m as at 31 December 2015.

Lloyds Bank International Limited is a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. Eligible deposits are deposits held by private individuals and charities. Depositor protection does not extend to corporations, small to medium sized enterprises, partnerships and trusts. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website www.gov.je/dcs or on request.

The Guernsey branch of Lloyds Bank International Limited, principal place of business PO Box 136, Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 4EN, is licensed by the Guernsey Financial Services Commission to take deposits and to carry on controlled investment business and insurance intermediary business under The Banking Supervision (Bailiwick of Guernsey) Law, 1994, The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) and The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002 (as amended), respectively, and is also registered with the Guernsey Financial Services Commission as a money service provider.

Lloyds Bank International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up to £ 50,000, subject to certain limitations. The maximum total amount of compensation is capped at £ 100,000,000 in any 5 year period. Full details are available on the Scheme’s website: www.dcs.gg or on request from Telephone: +44 (0) 1481 706359 or Post: P.O. Box 53, 1 Smith Street, St Peter Port, GY1 4BD.

The Isle of Man branch of Lloyds Bank International Limited of PO Box 111, Peveril Buildings, Peveril Square, Douglas, Isle of Man IM99 1JJ is licensed by the Isle of Man Financial Services Authority to conduct deposit-taking and investment business and is also registered as an insurance intermediary in respect of general business.

Lloyds Bank International Limited is a participant in the Isle of Man Depositors’ Compensation Scheme as set out in the Depositors’ Compensation Scheme Regulations 2010.

Lloyds Bank (Gibraltar) Limited. Registered office and principal place of business: Royal Ocean Plaza, Ocean Village, Gibraltar, GX11 1AA. Registered in Gibraltar, no 99982. Regulated and authorised by the Gibraltar Financial Services Commission for the conduct of banking, investment and insurance mediation business. Lloyds Bank (Gibraltar) Limited is a participant in the Gibraltar Deposit Guarantee Scheme and a participant in the Gibraltar Investor Compensation Scheme. Details of the schemes are available on request.

Please note that, in relation to banking services which we provide, you might not be eligible for compensation under a deposit protection guarantee scheme available in your country of residence. If in doubt, contact your local banking regulator, visit their website or seek independent advice.

Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited are wholly owned subsidiaries of Lloyds Bank plc. Lloyds Bank plc is incorporated in the United Kingdom, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278, and is part of the Lloyds Banking Group. Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited place funds with Lloyds Bank plc and thus their financial standing is linked to that of the group. Depositors may wish to form their own view on the financial standing of Lloyds Bank International Limited and Lloyds Bank (Gibraltar) Limited and their parent based upon publicly available information. Download Lloyds Bank International Limited’s latest annual financial statements. Lloyds Bank (Gibraltar) Limited’s latest annual financial statements are available through Companies’ House in Gibraltar at www.companieshouse.gi.

Lloyds Investment Fund Managers Limited. Registered office: PO Box 160, 25 New Street, St Helier, Jersey JE4 8RG. Authorised by the Jersey Financial Services Commission under the Collective Investment Funds (Jersey) Law 1988.

View our our information on how to complain.

Legislation or regulations in your home jurisdiction may prohibit you from entering into such a transaction with us. We reserve the right to make final determination on whether you are eligible for any products or services. Residents or Nationals of certain jurisdictions may be subject to exchange controls and should seek independent advice before entering into any transactions with us.

Please note that, in relation to banking services which we provide, you might not be eligible for compensation under a deposit protection guarantee scheme available in your country of residence. If in doubt, contact your local banking regulator, visit their website or seek independent advice.