Send and receive money outside the UK or in a foreign currency

A secure way to send and receive money around the world.

Do you have family overseas and want to send them money? Or you could be working or buying a house abroad? Whatever the reason, our services are efficient and secure. There’s a wide range of currencies to choose from when sending money too.

Log in to make a payment

24/7 payments

Make payments 24 hours a day, 7 days a week - payments are processed during normal banking hours.

Send up to £100,000

Maximum amount for payments made online is £100,000 per day.

Repeat payments

We store details securely of anyone you pay, so it's even simpler if you need to send money to them again.

How to send money outside the UK online:


If you have a current account with us and you're registered for Internet Banking, you can simply log on to send money outside the UK.

You'll need to have the following to hand:

  • The recipients name and address (exact full name or company name).
  • Name and address of the recipients bank - (exact full name).
  • The recipients IBAN (International Bank Account Number) or account number.
  • For payments to EU countries, the BIC (Business Identifier Code) / SWIFT / clearing code.

Log in to make a payment

Your payment

Cut-off time

Payment in euro made through one of our branches or by
Telephone Banking
No earlier than 2pm and no later than 3pm
Payment in a currency other than euro made through one of our branches or by Telephone Banking 3pm
Payment in any currency made through Online Banking 3pm

The table below gives you information about the time the payment will take to reach the recipient’s bank, provided you have given us the instruction on a working day before the cut off time:

Currency and destination

Delivery times

Payments in euro to another EEA country, Monaco, Switzerland or San Marino

No later than the next working day

Any other currency to EU and EEA countries, North America, Canada, South Africa, Australia, New Zealand, Middle East and the Far East

Generally no later than four working days.

Any currency to any other country

Should take no longer than 14 working days

You can use our payments calculator to get an estimate of how much a payment will cost.

To access this please log in to Internet Banking

Log in to Internet Banking

Payment Charges

Payment from your account £9.50*

Correspondent Bank

Fee Zone 1 (USA, Canada and Europe (non-EEA))

Zone 2 (Rest of the world)

 

£12

£20

If you share the payment charges with the recipient, you will only pay our £9.50 Payment charge and the recipient will pay their bank’s charges and any agent bank charges that apply.

You will share payment charges with the recipient when the payment is made:

  • in any currency using Internet Banking; or
  • in any currency to a bank account in the EEA; or
  • in any EEA currency to a bank account in Switzerland, Monaco or San Marino.

If you make any other payment, you can choose either:

a) to share charges; or

b) to pay both our charge and the Correspondent Bank Fee (that replaces all agent bank charges). The recipient bank may charge its customer a fee but we cannot provide information about this. This payment type can only be made through one of our branches or Telephone Banking.

Standard Exchange Rate

Payments are processed using our standard exchange rate. The table below provides an indication of the current percentage difference between this rate and the rate at which we buy and sell currency in the foreign exchange markets (the wholesale rate).

Payment Value in GBP Maximum current percentage difference between our standard exchange rate for sending money outside the UK or in a foreign currency and the wholesale rate
0 - £25,000 3.20%
£25,000.01 - £75,000 2.40%
£75,000.01 - £250,000 2.00%
£250,000.01 and above 1.50%

The percentages outlined above are indicative, for information only and can change at any time.

International Drafts and Foreign Cheques

International drafts £20**
Foreign currency cheques paid into your account

Pound value of £100 or less: £5

Pound value more than £100: 0.25% of the total pound value (the minimum charge is £8 if we negotiate the cheque and £15 if we collect the cheque; the maximum charge is £80)

Negotiating or collecting a cheque - what's the difference?

Negotiating the cheque - we will buy it from you by paying you the amount of the cheque or the pound equivalent on the working day after we receive it using our standard exchange rate for negotiated cheques.

Collecting the cheque - we send it on your behalf to the paying bank. We may use an agent to do this. We will pay the amount of the cheque or the pound equivalent using our standard exchange rate for the payment into your account on the day we get payment from the paying bank. The time this takes will vary depending on the paying bank or its country.

Please visit one of our branches for more information on international drafts or foreign currency cheques.

* This charge will not apply to payments in pounds sent to a bank account within the EU from our Basic account.

** If you cancel an international draft, we will make refund conversions using our standard exchange rate for international drafts on the day we receive the money.

You can make payments up to the following amounts:

Online: Send up to £100,000 per day through Internet Banking.

In branch: There is no maximum limit, if you want to send over £100,000, we will call directly to our dedicated currency trading team for you and help you to get an exchange rate you are happy with.

Telephone Banking: Send up to £5,000 through Telephone Banking.

Please note - The minimum payment amount is £1.01, whether made online, in branch or through Telephone Banking.

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.

How to send the payment - You must instruct the overseas bank to send funds via SWIFT (Society for Worldwide Interbank Financial Telecommunication).

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 account number, sort code of your account, 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.

You can find your IBAN and BIC by logging on to Internet Banking, selecting an account from “Your Accounts” then clicking on the ‘Show IBAN / BIC’ link.

The following fees apply to electronic payments received from outside the UK other than by SEPA credit transfer*:

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 sending money 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.

* SEPA credit transfers are free of charge.

†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 sending money 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).

If you hold a Mayfair Private Banking Service account you may receive a different exchange rate. Please contact your Private Banking and Advice Manager for more details.

Payment Value in GBP Maximum current percentage difference between our standard exchange rate and the wholesale rate
0 - £25,000 3.20%
£25,000.01 - £75,000 2.40%
£75,000.01 - £250,000 2.00%
£250,000.01 and above 1.50%

The percentages outlined above are indicative, for more information only and can change at any time.

Why you need to give us your recipient’s BIC and IBAN

When you make a payment to a recipient in the EU (Europe) and EEA (European Economic Area), you need to provide us with the BIC and IBAN. If you don’t include them, we might not be able to process it.
Please see our current list of countries requiring an IBAN.

What is an IBAN?

IBAN stands for ‘International Bank Account Number.’ IBANs identify banks according to international agreement. IBANs are mandatory for EU (European) and EEA (European Economic Area) countries. Each country has a different number of characters in their IBANs.

This is an example of an IBAN for the United Kingdom:

GB29NWBK60161331926819.

An IBAN has four components and is a mixture of alpha and numeric characters:

  • an ISO country code
  • bank and branch identifier
  • beneficiary account number
  • two check digits.

The two check digits in the IBAN help banks verify that your payment details are correct.

When will the money be taken from my account?

Money will only be taken from your account once we have processed your payment.

Payments made before 3pm on a business day will be debited that same day. For payments made on or after 3pm on a business day, or at any time on a non-business day, your account will be debited on the next business day.

How much does it cost to make a payment outside the UK?

The fee is £9.50* regardless of the amount you send or the way you make the payment. If you share the charges for sending money outside the UK or in a foreign currency with the recipient, you will only pay the Bank of Scotland fee and the recipient will pay their bank’s charges and any agent bank charges that apply.

If you choose to pay both our charge and all agent bank charges, you will pay our charge and the Correspondent Bank Fee that replaces all agent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank:

Zone Correspondent Bank Fee
Zone 1 (USA, Canada and Europe (non-EEA)) £12
Zone 2 (Rest of the world) £20

The exchange rate will depend on market exchange rates and the amount you send. You can use the Online Payments calculator to get a payment illustration, but please note that you’ll only see an estimated cost.

Before a payment is confirmed online, the agreed and final rate will be shown.

What if I make a payment request then want to change or cancel it?

Sorry, you can’t change or cancel your payment transaction request online. Please call the International Helpdesk on 0345 982 5319 as soon as possible, Monday-Friday, 9am-5pm (Wednesdays from 9.45am). We can’t guarantee that we’ll be able to change or cancel the transaction. If we are able to change or cancel it for you,  you may lose money through the differences in exchange rates.

What if I make a payment request then find the recipient’s details I quoted are incorrect?

Please call the International Helpdesk on 0345 982 5319 as soon as possible, Monday-Friday, 9am-5pm (Wednesdays from 9.45am). We can talk you through the options that you have. Please be aware that additional fees may apply.

I don't want any bank charges to be taken from the money I send my recipient. How can I make sure that my recipient receives the exact amount of money I send them?

There are some circumstances when you can choose to pay both our charge and all agent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. More details about charges for sending money outside the UK or in a foreign currency can be found in the ‘How much do payments cost’ section.

Need more information on or help with charges for sending money outside the UK or in a foreign currency?

If you need information about charges for sending money outside the UK or in a foreign currency, please call the International Helpdesk on 0345 982 5319 as soon as possible, Monday-Friday, 9am-5pm (Wednesdays from 9.45am). You can also visit your nearest branch.

* This fee will not apply to payments in pounds received from a bank account within the EU to our Basic Account

Important legal information

Bank of Scotland plc, Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.