Receiving a payment
Payments can be made to your account in either pounds or foreign currency.
For your payment to be transferred as quickly as possible, please ask the overseas bank to follow the instructions below.
Where to send the payment - Quote the Lloyds Bank swift code which is LOYDGB2L (Lloyds Bank and Bank of Scotland are part of Lloyds Banking Group).
Account details you should use - Your IBAN (International Bank Account Number) and BIC (Business Identifier Code) of the account you want crediting. These are the same as your sort code and account number but in a format recognized abroad.
Where to find your IBAN and BIC - Login to Internet Banking, select one of your bank or savings accounts from “Your Accounts” then click on the ‘View IBAN / BIC’ link.
Alternatively use our mobile banking app to view your IBAN and BIC by selecting “Send bank details” on the more actions (three dot) menu next to the bank account you want to use. You can also use the app to share your bank details with the person sending you a payment, by pressing ‘share international details’.
What fees apply?
The following fees apply to electronic payments received from outside the UK or in a foreign currency. Payments in euro received from within the UK, EEA or via SEPA Credit Transfer are not charged these fees.
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.
Please be aware that the bank sending the payment may use an agent bank to pass the payment on to Bank of Scotland. The agent bank may make a charge for their service, which will be deducted from the payment sent. This will reduce the payment Bank of Scotland receives.
†This fee will not apply to payments in pounds received from a bank account within the EU to our Basic Account.
Standard Exchange Rate
The table below provides an indication of the current percentage difference between our standard exchange rate for receiving money from outside the UK or in a foreign currency and the rate at which we buy and sell currency in the foreign exchange markets (the wholesale rate).
The percentages outlined above are indicative, for more information only and can change at any time.
Foreign Cheques
Negotiating or collecting a cheque - what's the difference?
Negotiating - We will pay the amount of the cheque into your account on the working day after we receive it. If it is a foreign currency cheque we will convert it into pounds using our standard exchange rate for the payment.
Collecting - We will pay the amount of the cheque into your account when we receive payment from the paying bank. The time this takes can vary depending on the paying bank or its country as we will send the cheque to them. We may use an agent to do this. When we receive payment from the paying bank, we will convert it to pounds, if applicable, using our standard exchange rate for the payment. You can ask us for details.
Please visit one of our branches for more information on foreign currency cheques.