![]() Though this isn’t particularly high when compared to other expat bank providers, again, you’ll easily beat it with a dedicated service provider like Wise.Īs an example, at the time of writing, £1000 exchanged into dollars at the real exchange rate (i.e. Typically banks incorporate the fee into the exchange rate they give you and this usually hovers around 3%. Though Lloyds foreign exchange say there aren’t any commission charges for foreign exchange, that doesn’t mean they won’t charge you. It should also be noted that recipient bank charges often apply, so even though Lloyds don’t charge from their side, in all likihood, you will still end up paying a fee and this fee will be much higher than what you’d expect to pay with a dedicated money transfer company like Wise for example. You can transfer all major currencies with them, but this service is only open to customers with either a Lloyds International current or savings account. ![]() Lloyds International money transfer is free. This gives you everything you get with a standard account without the monthly fee but with a dedicated Premier Banking relationship manager. If you have £100,000 to save with Lloyds International or you have a sole annual income of at least £100,000, you could apply for a Lloyds Premier International Account. And it should be noted that this is a sole salary, not joint. There’s a £7.50 monthly fee on the account and you need either £25,000 to fund the account or a salary of at least £50,000. If you have a Lloyds International current account international transfers are free (at least on the Lloyds side as the other bank may charge you). This may be good for expats who live in places where their currencies are used and perhaps for overseas landlords that collect rent in sterling, but it might not be so good if you deal in other currencies. You can also get debit cards in all of these currencies. Paying bills and receiving salary can be done in either sterling, euros or us dollars. Just like your main bank account back home, a Lloyds International current account takes care of everyday banking. When you opt for Lloyds offshore banking you get access to international current accounts, international savings, foreign exchange and international money transfers.Īnd it’s worth having a look at these in a bit more detail. Lloyds Int Banking – the bottom line What services does Lloyds offshore banking offer? Who should open a Lloyds non resident bank account? What alternatives are there to Lloyds expat banking? How is Lloyds International offshore online banking platform?Īre Lloyds expat mortgage products available? Where can I open a Lloyds International account? What services does Lloyds offshore banking offer? ![]() The question is should you open an account? In this review we look at the positives and the negatives to help you decide whether or not you should open a Lloyds non resident bank account. Lloyds International offshore banking offers four key services: an international current account, an international savings account, foreign exchange and money transfers. With such a large portfolio of brands and services I guess it’s no surprise then that there’s a Lloyds offshore banking division. Halifax, Bank of Scotland, Scottish Widows, MBNA, Schroders, Black Horse, Lex Autolease, Birmingham Midshires, LDC, AMC and iWeb are all Lloyds brands. If you’re British there is a good chance you have or have had some kind of Lloyds account. ![]() We take a deep dive into Lloyds International offshore banking and give you the key information you need to know before you open an account. ![]()
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