International Payments

You can make international payments in foreign currencies using our mobile app, online, over the phone and in branch from 7.30am until 4.30pm Monday to Friday. Please be aware, a smaller number of currencies are available when using the TSB Mobile Banking App.

You can make an international payment outside of these hours between 4:30pm to 7:30am Monday to Friday, on weekends and on Bank Holidays in foreign currencies online, but they won't be sent until the following working day.

If you're a TSB Current Account customer log on to Internet Banking to send money abroad.

We’ll use our standard exchange rate to convert your payment into the foreign currency. This will be the one that applies on the day we make the payment. If you make the payment to a foreign country in pounds, you may have the option to choose if TSB converts the currency on your behalf, or the bank receiving the payment.

Our standard exchange rate is the rate we use for converting pounds into foreign currency. It changes all the time, so we’ll confirm the current rate before you make the payment. You can also find out the exchange rate by visiting a branch or calling us.

Payments made between 4:30pm to 7:30am Monday to Friday, on weekends and Bank Holidays, will use the rate at 4:30pm on the last working day. This will be an indicative rate and if the exchange rate fluctuates more than a set percentage, between when we capture the instruction and process the payment, we will cancel the payment and send you a notification by SMS. This percentage may be different for each currency but we will tell you when you are making the payment what this will be every time.

Within the exchange rate you receive, we include a FX International Payment Margin. This is the difference between the rate that TSB buys the international currency at, and the rate we offer you for converting your payment from pounds sterling to that currency. For more information, please visit the FX Margins page.

You’ll need to give us:

• the full name and address of the person you want to pay
• the name and address of the bank of the person you want to pay
• the International Bank Account Number (IBAN)
• the Bank Identifier Code (BIC)

The TSB BIC is TSBSGB2A. Please log into your account using Mobile / Internet banking or check your bank statement to find your IBAN.

If you’re sending money to the USA you may also need a routing code.

If you have either a routing code or a clearing code; this can be added to the first line of the beneficiary’s bank address online.

The beneficiary that you are paying should be able to tell you whether a clearing code is required by their bank.

You can send up to £75,000.

How long a payment takes depends on where the payment is being sent. The table below tells you the maximum time the payment will take to reach the recipient's bank once we have received your instructions to send an International Payment. The cut-off time for Online International Payments to be sent the same day is 4:30pm for all foreign currencies. Any Online International Payments requested after this time will be processed the next working day.

Type of fee	Fees for all accounts except Cash accounts	Fees for Cash accounts
International payment using Internet Banking	- If the payment is in euros to an EEA country: £0 - All other payments up to £5,000: £10 - All other payments over £5,000: £17.50	- If the payment is sent in pounds within the EU: £0 - If the payment is in euros to an EEA country: £0 - All other payments up to £5,000: £10 - All other payments over £5,000: £17.50
International payment using Telephone Banking or in branch	- If the payment is in euros to an EEA country: £0 - All other payments: £20	- If the payment is sent in pounds within the EU: £0 - If the payment is in euros to an EEA country: £0 - All other payments: £20
Correspondent bank fee. This is the fee you’ll pay when you’re making a payment outside the EEA, Switzerland and Monaco and you decide to pay all the charges	£6	£6

Example:

• You need to send £1,000 to France in euros from a TSB account using the TSB Mobile Banking App
• Transfer Fee: £0 (TSB does not charge for euro payments to EEA countries when made via the TSB Mobile Banking App or online) 
• If the mid-market rate is 1 GBP = 1.17 EUR
• The TSB standard exchange rate applied to the payment would be 1 GBP = 1.13139 EUR. This includes the 3.3% margin TSB applies for converting your payment from pounds sterling to euros
• In this example, £1,000 would convert to approximately €1,131.39
• Recipient would receive around €1,131.39, minus any fees charged by the recipient’s bank or intermediary banks

Please note that a live mid-market rate is used to calculate the standard exchange rate, together with the percentages outlined in the FX Margins table. The information in this example is indicative, for information only and can change at any time.

These are payments that you receive from an account outside the UK and/or in a foreign currency

Type of fee	Fees for all accounts except Cash accounts	Fees for Cash accounts
International payment received from abroad	- SEPA payments: £0 - Any other payment received in euros : £0 - All other payments where the payment is up to £100: £2 - All other payments where the payment is over £100: £7	SEPA payments: £0 - Any other payment received in euros : £0 - If the payment is received in pounds from within the EU: £0 - All other payments where the payment is up to £100: £2 - All other payments where the payment is over £100: £7

Single Euro Payments Area (SEPA) payments are electronic payments made in euros between two member countries both within the SEPA region, through the SEPA credit transfer scheme. Payments from member countries will usually arrive via this scheme. Please see the Personal Banking terms and conditions for a list of SEPA member countries.

We’ll convert the currency into pounds sterling on the day we receive the money from the sender using our standard exchange rate. This exchange rate includes a FX International Payment Margin that we apply when converting your payment from foreign currency into pounds sterling, This margin is retained by TSB. You can see our current Payment Margins for foreign currency conversions here.

Until we receive the funds, the exchange rate is indicative and can change at any time. To get an indication of the the exchange rate which will be applied, you can call us on 03459 758 758 or ask in branch.

Example:

• A person in Australia makes a payment of 1,000 AUD to your TSB personal account
• Fee: £7 for payments over £100 received in a non-euro currency
• If the mid-market rate is 1 AUD = 0.52 GBP
• The TSB standard exchange rate applied to the payment would be 1 AUD = 0.50284 GBP. This includes the 3.3% margin TSB applies for converting your payment from Australian dollars to pounds sterling
• In this example, 1,000 AUD would convert to approximately £502.84
• £502.84 minus £7 (for payments over £100 received in a non-euro currency) = £495.84
• You would receive around £495.84

Please note that a live mid-market rate is used to calculate the standard exchange rate, together with the percentages outlined in the FX Margins table. The information in this example is indicative, for information only and can change at any time.

Payments sent to your account in euros from a bank within the EEA should be in your account by the end of the following working day.

We are unable to give timescales when we will receive payments not in euros or from outside of the EEA. This depends on when and how the sending bank sends the payment to us. When we do receive it, we'll convert it into pounds and pay the money into your account as soon as possible. We will deduct any fees before we do this.

Please contact the person/ business sending the money and ask them to contact their bank as they can trace the payment.

The sender can either choose to pay all the charges themselves, share the charges with you or for you to pay all the charges. This will affect how much you receive. Please see International Payment costs. 
 
The amount received will also depend on who converts the currency. If the sender sends the payment in local currency (i.e. Euros or US Dollars) then TSB will convert into Pounds. We do this based on our own daily rates. These rates will be linked to live industry exchange rates. Rates can change by the minute, without the sending bank knowing what our rate is, they won’t be able to tell you what the exchange rate will be. This can make it hard to predict exactly what will arrive in Pounds sterling. 
 
If the overseas sender requests the payment is sent in Pounds sterling then the overseas bank will make the conversion based on their own rates, the sender should be made aware of this at the time they make the transaction. If they choose to pay all the charges they can ensure you receive the Pounds sterling amount you were expecting.
 
All banks should publish the rate that they convert sent payments in.

You can make any number of payments up to a total amount of £75,000.

This is a daily limit per customer. The daily limit must not be exceeded and applies to branch, over the phone, TSB App and Internet Banking as a whole.

This limit is for standard retail accounts; under 19s accounts have different daily limits.

Yes. You can make as many payments as you want as long as you don't go over your daily payment transaction limit of £75,000 and you have enough money in your account to make payments.

This is our upfront charge to you for making an international payment. Please note that while you will pay our transfer charges, the person receiving the payment pays all other charges. This may result in the person receiving the payment receiving a lesser amount than you have sent, or these charges may be debited from their account separately. Other charging options are available in branch or via telephone banking please see our banking charges guide. Our international payments calculator is available to you after you've logged into Internet Banking to demonstrate how much each payment will cost. Please see International Payment costs.

For Payments made in foreign currency before 4:30pm on a business day, your account will be debited the same working day. For payments made on or after 4:30pm on a business day, your account will be debited the next working day. Payments submitted on or after 4:30pm on a Friday (as long as Friday is a working day) will be debited the next working day, please note Saturdays, Sundays and Bank holidays are not classed as working days.

Yes. You can choose to send your payment in Pounds Sterling or local currency.

However please be aware that if you choose the Pounds Sterling option, we’ll ask you if you want to keep the payment in Pounds Sterling. The correspondent bank may convert the payment into the local currency, if the receiving account does not support Pounds Sterling and a conversion fee may be charged.

If you choose local currency, this payment may be converted by our correspondent bank or the receiving bank, depending on whether our correspondent bank supports the currency choice.

This is a requirement in some countries. Without this information, your payment may not process or could be delayed.

BIC stands for Bank Identifier Code. It is a unique code that identifies a particular bank in a specific country. It helps us process transactions efficiently and quickly and is used worldwide for international transactions.

SWIFT code is another name for BIC code.

Please check with the person receiving the money if a BIC or SWIFT code is needed to make a payment.

You'll need to ask your recipient for the BIC/SWIFT code of their bank.

IBAN stands for International Bank Account Number. It is a unique code that identifies an individual bank account. We won't be able to process your payment to the EEA (European Economic Area) and EU (European Union) countries as well as a number of other countries globally without a BIC or IBAN.

If this information is not included it may delay your payment being sent. Please check with the person receiving the money if an IBAN or BIC is needed to make a payment. 

You can check which countries need an IBAN for a payment to be processed in our country table. – see "Which countries require an IBAN on International Payments?" below.

To make payments to the countries with an asterisk*, you will still need a BIC/SWIFT code.

A clearing code is needed for making a International payment to an account that doesn't have an IBAN. 

The beneficiary that you are paying should be able to tell you whether a clearing code is required by their bank.

If a clearing code is required, please add  to the reference field, with any reference you would like to add to the payment. This field has a 35 character limit. Alternatively, please make your payment via branch or telephone banking.

A routing code is a countries version of a sort code. A routing code is not always required but may be required if you are sending a payment to USA. If a routing code is required, please add to the reference field, with any reference you would like to add to the payment. This field has a 35 character limit. Alternatively, please make your payment via branch or telephone banking.

We’ll use our standard exchange rate to convert your payment into the foreign currency. This will be the one that applies on the day we make the payment. If you make the payment to a foreign country in pounds, you may have the option to choose if TSB converts the currency on your behalf, or the bank receiving the payment. If you choose for TSB to convert on your behalf, an exchange rate fee of 2.5% of the payment amount will be applied to the payment, with some of the fee being retained by TSB

Our standard exchange rate is the rate we use for converting pounds into foreign currency. It changes all the time, so we’ll confirm the current rate before you make the payment. You can also find out the exchange rate by visiting a branch or calling us.

Payments made between 4:30pm to 7:30am Monday to Friday, on weekends and Bank Holidays, will use the rate at 4:30pm on the last working day. This will be an indicative rate and if the exchange rate fluctuates more than a set percentage, between when we capture the instruction and process the payment, we will cancel the payment and send you a notification by SMS. This percentage may be different for each currency but we will tell you when you are making the payment what this will be every time.

Within the exchange rate you receive, we include a FX International Payment Margin. This is the difference between the rate that TSB buys the international currency at, and the rate we offer you for converting your payment from pounds sterling to that currency. For more information, click here. 

The vast majority of payments are made successfully. If there is a reason TSB can’t make the payment, we will contact you. However, payments can be rejected by the receiving bank. This is normally where details provided for the payment are incorrect, missing (for example, the clearing code or routing code) or the receiving bank has some other reason to reject the payment.

It's important to note that due to fluctuations in the Foreign Exchange Rates, you may get back less than you sent. Therefore, it’s really important to check the details being used for the payment thoroughly.

Returned payments can take up to two weeks to get back to TSB; particularly if the money is being sent outside of the SEPA region. SEPA is the Single Euro Payments Area. For further details please see Section 5 of the Personal Banking Terms and Conditions. Personal Banking Terms and Conditions.

EEA (European Economic Area) and SEPA countries are listed in Section 5 of the Personal Banking Terms and Conditions.

All EU (European Union) countries are part of the EEA. The only countries which are part of the EEA; but not part of the EU are Iceland, Norway and Lichtenstein.

An FX International Payment Margin is the difference between the rate TSB buys a foreign currency at, and the rate you buy it at when you convert pounds sterling to that currency at TSB. The FX International Payment Margin applies to both payments being sent from your account and payments being received into your account, and is retained by TSB.

If you need to know more about Payment Margins when you trade international currencies at TSB, you can see our current Payment Margins here.