Lloyds TSB International has announced that, with immediate effect, it will stop charging its expatriate clients a fee to their transfer money internationally.
Holders of the bank’s Premier international Account will now no longer be charged a transfer fee to move currency to any overseas bank account, whether it involves a currency exchange or not, and regardless of whether they request the transfer online, by telephone or by post.
Previously, the bank had charged £15 for sending money online, and £25 for sending it by phone.
To be eligible for a Lloyds TSB International Premier International Account, individuals must have a gross annual income of £50,000, or have £25,000 to deposit (or the currency equivalent of either amount). They are not charged account fees if they keep a balance of at least £2,500 (or €2,500, o$3500) in their account. If their balance falls below these values during a given month, then they will be charged a fee of £20/€20/US$30.