![]() ![]() When you’re sending and receiving money from one currency to another, sometimes intermediary banks get involved. This is because of something known as correspondent bank fees. Additional fees from TSB BankĪlong with the regular fees, you may also find yourself with some extra charges to pay when you make an international transfer with TSB. It’s crucial to compare the exchange rate you’re offered with this mid-market rate, to see exactly how much a transfer will end up costing you. This is because the rate includes a margin, which is how banks make their money on international transfers. TSB’s standard exchange rate is typically above the mid-market rate³, which is the one you can find on Google or XE.com. The upfront fee may be low, but a poor exchange rate could make your transfer very costly. Whenever you send money overseas, it’s important to check the exchange rate for currency conversion very carefully. £6 correspondent bank fee - for payments outside the EEA where you choose to pay all the charges ![]() £0 for SEPA transfers (within EEA) and all other payments in EUR- £2 for all other payments up to £100- £7 for all other payments over £100 £0 for payments in EUR to EEA countries- £20 for all other payments Sending an international transfer - phone or in-branch £0 for payments in EUR to EEA countries- £10 for all other payments up to £5,000- £17.50 for all other payments over £5,000 Sending an international transfer - online ![]() But here are the main fees you need to know about: TSB international transfer The cost of sending money abroad with TSB varies depending on the transfer details, including where you’re sending your money. Save money with Wise What are the fees for a TSB international money transfer in the UK? Use our handy online currency converter to find out how much your international transfer is really costing you. To make sure you really know what you’re getting before committing to a transfer service, compare the exchange rate you’re being offered with the mid-market rate. You can see why the costs can really add up if you aren’t careful. Plus, there may be between 1-3 intermediary and recipient banks who each charge you fees. Banks often mark up their exchange rates for international transfers, converting your money at a rate poorer than the mid-market rate. TSB’s fees are more than two times higher in this scenario.īut fees aren’t the only reason to consider an alternative transfer method. The real exchange rate - the same one you find on Google £10 + exchange rate markup + likely fees from intermediary and recipient banks Let’s do a comparison of how much this transfer will cost you using TSB, and using a money transfer specialist like Wise. Here’s a theoretical online bank transfer sending £1000 from the UK to a US dollar account in the US. This includes fees, exchange rates, the details you’ll need and a step-by-step guide to the process.īefore we get started though, a quick example. In this guide, we’ll cover everything you need to know about TSB international transfers. This is especially important if you have friends or family living abroad, you shop internationally or you run a business with overseas clients. If you’ve recently opened an account with TSB, you’ll want to know how to make international transfers. Owned by the Spanish banking group Sabadell, TSB offers a wide range of personal and business banking accounts and services¹. With a history spanning 200 years, TSB is a major UK bank with over 5 million customers. Travelling to Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Croatia Cyprus Czech Republic Denmark Egypt Estonia Finland France Georgia Germany Greece Hong Kong Hungary India Indonesia Ireland Israel Italy Japan Kenya Latvia Liechtenstein Lithuania Luxembourg Malaysia Malta Mexico Monaco Morocco Nepal Netherlands New Zealand Nigeria Norway Pakistan Peru Philippines Poland Portugal Romania Russia San Marino Singapore Slovakia Slovenia South Africa South Korea Spain Sri Lanka Sweden Switzerland Thailand Turkey Ukraine Vietnam The UAE The UK The US.Life in Australia Austria Belgium Brazil Brussels Canada China Croatia Cyprus Czech Republic Denmark Finland France Germany Greece Hong Kong India Indonesia Ireland Italy Japan Luxembourg Malaysia Malta Mexico Netherlands New Zealand Nigeria Norway Pakistan Peru Philippines Poland Portugal Russia Singapore South Africa South Korea Spain Sweden Switzerland Sydney Thailand Vietnam The UAE The UK The US. ![]()
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