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LLoyds exchange fee
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I have sent 28,000 euros myself! I was counting on XE since they told me there were no costs involved!0
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£750 is the difference between xe and the rate they have given me.
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No. I worked it out. XE minus what I have actually received on my account.0
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There is no £750 fee, the issue is the XE exchange rate will have been a better exchange rate than the Lloyds exchange rate, this is to be expected.anapiu said:No. I worked it out. XE minus what I have actually received on my account.1 -
Then that is normal. No one will transfer at the full rate shown on xe.com. Every transfer service will use their own rate.anapiu said:£750 is the difference between xe and the rate they have given me.
Lloyds set out their margin here Receiving money from outside the UK | International Payments | Lloyds Bank
The branch staff were correct, no fees were charged (but would have been if not in Euro), but the exchange rate is set by Lloyds.
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I did ask the staff for fees or costs. I was expecting to lose some money, but not that much. I believe I should have been informed about this rate.0
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You were. As a previous poster pointed out:anapiu said:I did ask the staff for fees or costs. I was expecting to lose some money, but not that much. I believe I should have been informed about this rate.jon81uk said:
Lloyds set out their margin here Receiving money from outside the UK | International Payments | Lloyds Bank
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The answer to are there any fees or costs is still no.anapiu said:I did ask the staff for fees or costs. I was expecting to lose some money, but not that much. I believe I should have been informed about this rate.
The question you didn't ask is what exchange rate will be used.
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Exchange rate is calculated at time of transfer. So if you calculated it before or after there can be a difference. Banks rates are never the best.anapiu said:No. I worked it out. XE minus what I have actually received on my account.
Also you may incur a fee for sending from the other bank.Life in the slow lane0
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