Changes to international payments
From 22 April 2018, we are making changes to our international payments service. Some changes are small, others might affect you a bit more. See what they mean to you.
- The times that you can make an international payment in a foreign currency are changing.
You will be able to make international payments online, over the phone and in branch from 7.30am until 4.30pm Monday to Friday.
You can still make an international payment outside of hours between 4.30pm to 7.30am and on weekends, but they need to be sent in pounds sterling.
- You will need the recipient’s BIC and IBAN number for every payment.
You now need to use the recipient’s BIC and IBAN number to direct the payment to their account.
- Changes to your Bank Identifier Code (BIC) and International Bank Account Number (IBAN).
We’re changing our Bank Identifier Code (BIC) and all International Bank Account Numbers (IBAN) that contain ‘LOYD’. This will affect you if you receive payments from abroad.
Important – You will need to give new information to anyone who sends you money from abroad to avoid delays in receiving your payments and incurring additional charges:
- From Monday 23rd April 2018, your new BIC will be TSBSGB2A
- If your International Bank Account Number (IBAN) contains the sequence of letters ‘LOYD’, you will also have a new IBAN from Monday 23rd April 2018. Please log in to your account using Mobile or Internet Banking where you will find your new IBAN
- Your saved recipients.
International payment recipients you had saved in Internet Banking may not appear in your beneficiary list. So, it’s a good idea to make a note of all of your recipient details now.
- Changes to the currencies we offer.
We will no longer offer payments in the following currencies:
- Bahraini Dinar
- Barbadian Dollar
- East Caribbean Dollar
- Icelandic Kroner
- Jordanian Dinar
- Kuwaiti Dinar
- Mauritian Rupee
- Omani Dinar
- Qatari Riyals
- Slovak Koruna
- Tanzanian Schilling
- Trinidad & Tobago Dollar
- Zimbabwean Dollar
- Payments in Indian Rupees or Kenyan Schillings will now only be available in branch.
If you would like to make a payment in these currencies you will need to do this in branch.
- Sending payments in a foreign currency
We offer two ways for you to make a payment in a foreign currency: either in the foreign currency or in pounds sterling. Where you select pounds sterling, we send the money in the foreign currency using the pounds sterling amount. E.g. if £1 = $1.50, then entering a pound sterling equivalent of £100 will send $150.
You won’t be able to send someone a payment using the pounds sterling amount: you will need to know the equivalent amount in the foreign currency.
- Changes to the correspondent bank fee.
Where you make a payment to a bank account outside the EEA, Switzerland and Monaco and you’ve chosen to pay all charges, we will charge you a correspondent bank fee.
This fee is changing to £6. For more information, see the Banking Charges Guide.