Lloyds' international transfert: Weird simulation

Griffe

Hello all,

I'm here because I have some problems with some international transfer I want to make.

I've got some money at the Lloyds in the UK I would like to transfert on my French bank account. On the Internet Banking section of the Lloyds website, I can transfer funds, but the amount that would be transfered doesn't correspond to what it should be. The exchange rate is 1.224, I have to pay 10£ of fee, but there is still almost 8% of the money missing. I know its just a simulation, and the current exchange rate is 1.17, but even with these, the numbers are not right.
And Lloyds is supposed not to apply fee on international transfert now (except the 10£).

Any help ?

Thanks

innovate

They might 'only' charge you £10 but that doesn't protect you from getting a really terrible exchange rate. It is well known that transferring money internationally via banks doesn't give you the best deal.

Use a specialist currency transfer outfit. http://www.fxcompared.com/

Crystallady

Does the receiving bank charge a fee which is "allowed for" within the bank calculation ?

Griffe

Thanks for your answers.

It's a simulation, so no receiving bank's information to provide. The exchange rate is advantageous actually (1.224 instead of 1.17 at the moment I think), that's why the results are even more suspicious.

I will try to make the real transfert to see if the amount is the same as in the simulation, if it is I won't finalise the transfert.