How to Make a Wire Transfer with Lloyds

Key takeaways:

• Lloyds Bank offers multiple ways to send money internationally: online banking, mobile app, telephone banking, and in-branch services.

• Lloyds wire transfers incur fees and exchange rate markups, increasing the total cost of international transfers.

• Xe provides a faster, more transparent, and cost-effective alternative for sending money abroad.

As one of Britain's oldest and most recognized banking institutions, Lloyds Bank handles thousands of international transfers daily—but their convenience comes with costs that aren't always obvious at first glance. Whether you're supporting family abroad, paying for overseas property, or handling international business transactions, knowing the real cost and timing of your transfer is crucial.

In this comprehensive guide, we break down Lloyds Bank's international transfer options, reveal all potential fees, and provide clarity on how long your money will actually take to arrive—everything you need to make smarter decisions about your global payments. 

How to wire money with Lloyds Bank

Lloyds Bank offers several convenient methods for sending money internationally¹:

Mobile Banking app

1. Log on and select the More menu from your account, then choose Send money outside the UK

2. If sending to a previous recipient, choose Select an international recipient and select from the list; for new recipients, select Pay someone new

3. Choose the country from the list, then enter the recipient's details

4. Enter how much currency you'd like to send (select the flag icon to change currency)

5. Select Continue to review the payment details

6. Select Confirm Payment to complete the request (additional security checks may apply for new recipients)

Internet Banking

1. Log on and select More actions from your account

2. Choose Payments and transfers, then select Send money outside the UK

3. If sending to a previous recipient, choose Select an international recipient and select from the list; for new recipients, select Pay someone new

4. Choose the country from the list, then enter the recipient's details

5. Enter how much currency you'd like to send (select the flag icon to change currency)

6. Select Continue to review the payment details

7. Select Confirm Payment to complete the request (additional security checks may apply for new recipients)

Telephone Banking

If you'd like to speak to a customer representative, you can call Lloyds to arrange an international transfer. You'll need to provide your account verification details and the recipient's information.

In-Branch Service

1. Visit your nearest Lloyds branch with valid identification and your account details

2. Provide the recipient's bank information, including name, account number, IBAN, sort code, and purpose of payment

3. Complete the wire transfer form provided by bank staff

4. Review, authorize, and submit the payment in person

Overview of Lloyds wire transfer details²

Here's a comprehensive overview of Lloyds Bank's international wire transfer services:

The minimum payment amount is £1.01, regardless of which method you use.

Lloyds wire transfer fees³

When sending money internationally with Lloyds Bank, you'll encounter several types of fees:

When using online banking or the Lloyds app, payments are sent using the shared charging option. This means you'll only pay the £9.50 fee, while the recipient pays any additional fees charged by intermediary banks or their own bank.

For payments made in branch or over the phone to destinations outside the UK or EEA, you can arrange for the recipient to receive the full amount by paying both the standard £9.50 fee and the appropriate Correspondent Bank fee:

Correspondent Bank Fees:

• Zone 1 (USA, Canada and Europe (non-EEA)): £12

• Zone 2 (Rest of the world): £20

Exchange rate margins

Lloyds applies a margin to the exchange rate when converting currencies. According to their margin calculator, the payment margin is approximately 3.55%⁴.

A lower-cost alternative to Lloyds wires

While Lloyds Bank provides reliable transfer services, the combination of upfront fees, correspondent bank charges, and a 3.55% exchange rate margin can significantly increase your costs. For those seeking more transparency, better rates, and faster service, Xe offers a smarter solution for your international payments.

Benefits of Xe:

• Competitive exchange rates: Get more value from your transfers with rates that beat traditional banks

• Low, transparent fees: Say goodbye to surprise costs

• Global reach: Send money to over 200 countries in more than 130 currencies

• Real-time tracking: Keep tabs on your money's journey every step of the way

• Expert support: If you get stuck during the transfer process,Xe's knowledgeable team is ready to assist

Compare Lloyds with Xe

Before making your next transfer, use Xe’s comparison tool to see exactly how much more your recipient could receive by using Xe instead of Lloyds Bank:

• Explore Lloyds current exchange rates with Xe’s transparent rates

• Consider factors like transfer speed requirements, delivery options, and exchange rate differences

How long does it take to wire money with Lloyds⁵?

While you can initiate a payment request 24 hours a day, 7 days a week through Lloyds' online or mobile banking, they'll only process transfers during normal banking hours.

When the money will leave your account

Money will only be taken from your account once Lloyds has processed your payment:

• If you make your request before 3pm GMT on a working day, the payment will be processed the same day

• For payments in euros made in branch or over the phone, an earlier cut-off time of 2pm GMT may apply

• Requests made after 3pm GMT will be processed on the next working day

• Requests made on bank holidays and weekends will be processed on the next working day

For example, if you request a payment at 3:30pm GMT on a Friday, Lloyds won't process it until the following Monday.

When the money will reach the recipient

Once processed, delivery times vary based on the currency and destination⁵:

These timescales apply only if you've requested the payment on a working day before the applicable cut-off time.

Frequently asked questions

Can I cancel a wire transfer after sending it with Lloyds?

Once a transfer is initiated, it may be difficult to cancel. Contact Lloyds immediately by phone if you need to cancel a payment. There's no guarantee they'll be able to recall the funds, especially if they've already been processed.

Are there daily limits for wire transfers with Lloyds Bank²?

Yes. The limits vary by banking channel:

• Internet Banking: Up to £100,000 per day

• Mobile App: Up to £100,000 per day

• Telephone Banking: Up to £10,000

• In-branch: No maximum limit

Does Lloyds Bank charge extra fees for currency conversion?

Yes, Lloyds applies an exchange rate margin of approximately 3.55% when converting currencies. This significantly affects the total cost of your transfer, especially for larger amounts.

International transfers: Compare your options

Before your next international transfer, take time to compare the total cost and delivery speed between Lloyds and alternatives like Xe. Xe was built specifically for international transfers—it's what we do best. Unlike traditional banks that treat global payments as just another service, we've optimized every aspect of the cross-border experience:

If you’re looking to simplify the international transfer process and save money on fees, a platform like Xe may be the right fit for you.

Citations

¹Wire Money with Lloyds - Lloyds Bank - 2025 

²Lloyds Wire Transfer Service - Lloyds Bank- 2025

³Lloyds Wire Transfer Fees - Lloyds Bank - 2025

⁴Lloyds Exchange Rate Margin - Lloyds Bank - 2025

⁵Lloyds Payment Processing Times - Lloyds Bank - 2025 

**The information from these sources were taken on May 10, 2025. 

The content within this blog post is not intended for use as financial advice. This content is for informational purposes only. Different currency exchange amounts, currency types, dates, times, and other individual factors will result affect the delivery times of transactions, rates and comparative savings.