Sending money abroad doesn’t have to be a hassle. With a Bank of Scotland international money transfer, you can securely move funds to almost anywhere in the world using Internet Banking or the Mobile App. Whether you’re paying a supplier in the U.S., sending cash to family in Europe, or handling a forex transaction, Bank of Scotland Overseas money transfers help you every step of the way.
This guide covers everything you need to know about Bank of Scotland international money transfer such as step-by-step instructions, fees, exchange rates, transaction limits, accepted currencies, and delivery times. Lets get started!
Table of contents
- What Is a Bank of Scotland International Money Transfer?
- How to Make Bank of Scotland Overseas Money Transfer?
- Bank of Scotland Transaction Limits for International Transfers
- Accepted Currencies for Bank of Scotland International Transfers
- Delivery Times for Bank of Scotland Overseas Transfers
- Bank Fees for International Money Transfers
- Exchange Rates for Bank of Scotland International Transfers
- Tips for Bank of Scotland International Money Transfer
- Why Choose Bank of Scotland for International Payments?
- FAQs on Bank of Scotland International Money Transfer
What Is a Bank of Scotland International Money Transfer?
A Bank of Scotland Overseas money transfer lets you send money outside the UK in various currencies, including those used in the European Economic Area (EEA) and beyond. The bank splits destinations into two zones—Zone 1 (e.g., USA, Canada, non-EEA Europe) and Zone 2 (rest of the world)—each with its own fee structure. Like any foreign exchange (forex) service, these transfers come with bank fees and exchange rate margins.
You can process your money transfer via Internet Banking or the Mobile App with Bank of Scotland, making it convenient for personal or business needs. But how exactly do you get started? Let’s walk through it.
Also Read: 10+ Cheapest Ways for International Money Transfers
How to Make Bank of Scotland Overseas Money Transfer?
Whether you prefer the desktop experience or the ease of your phone, here’s how to make Bank of Scotland international money transfer with different methods.
Via Internet Banking
For a seamless international payment through Internet Banking, follow these steps:
- Log In: Visit the official Bank of Scotland website and sign into your Internet Banking account.
- Select Account: Choose the account you’ll transfer from.
- Navigate: Click “More Actions,” then “Payments and Transfers.”
- Choose Option: Select “Send Money Outside the UK.”
- Recipient Details:
- For a new recipient, pick “Pay Someone New” and enter their name, address, bank name, address, and International Bank Account Number (IBAN) or account number. For EEA transfers, include the SWIFT/BIC code (Bank of Scotland’s is BOFSGB2S).
- For an existing recipient, select “Select an International Recipient.”
- Set Amount: Input the amount and currency. Use the “Flag” icon to switch currencies if needed (e.g., from EUR to USD).
- Review & Confirm: Click “Continue” to check details, then “Confirm Payment.” For new recipients, you’ll verify via a phone call; for existing ones, just enter your password.
Via Mobile App
On the go? Here’s how to handle a Bank of Scotland overseas transfer with the Mobile App which gives the amazing benefits of wire transfer:
- Open App: Launch the Bank of Scotland Mobile App and log in.
- Select Account: Tap the three dots in the top-right corner and pick your account.
- Start Transfer: Hit “Send Money Outside the UK.”
- Recipient: Choose “Select International Recipient” for existing contacts or “Pay Someone New” for fresh ones, then add their details (name, bank info, IBAN/SWIFT).
- Enter Details: Specify the amount and currency, adjusting via the “Flag” icon if necessary.
- Finalize: Tap “Continue” to review, then “Confirm Payment” to complete the transaction.
Both methods are secure, fast, and available 24/7, though processing happens during banking hours (typically 9 AM–5 PM GMT, Monday–Friday).
Bank of Scotland Transaction Limits for International Transfers
Need to know how much you can send? The limits for a Bank of Scotland international money transfer vary by channel. Here’s what you can expect:
| Channel | Transaction Limit |
|---|---|
| Telephone Banking | Up to GBP 10,000 per day |
| Online (Internet/Mobile) | Up to GBP 100,000 per business day |
| In-Branch | No maximum limit |
For larger transfers, visiting a branch gives you unlimited flexibility, while online banking suits most everyday needs.
Accepted Currencies for Bank of Scotland International Transfers
Wondering which currencies you can use with Bank of Scotland international money transfer? Bank of Scotland supports a variety of options for international money transfers. Here’s the full list:
- Euro (EUR)
- British Pound Sterling (GBP)
- Australian Dollar (AUD)
- Japanese Yen (JPY)
- United States Dollar (USD)
- Swiss Franc (CHF)
- New Zealand Dollar (NZD)
- Singapore Dollar (SGD)
- Canadian Dollar (CAD)
- Norwegian Krone (NOK)
Also Read: HSBC Global International Money Transfer
Delivery Times for Bank of Scotland Overseas Transfers
The delivery time of a Bank of Scotland international money transfer depends on the currency and destination of the payment. Tabulated below are the transfer durations for different payment types:
| Currencies | Destinations | Delivery Times |
| EUR | United Kingdom, Monaco, EEA member nation, San Marino, Switzerland | By the next business day |
| EEA currencies other than EUR/GBP/CHF | EEA Country | Within 4 working days |
| Any Currency | Canada, New Zealand, North America, the Middle East, South Africa, Japan, and other Far East nations | Within 4 business days |
| Any currency | Any country | Within 5 working days |
Bank Fees for International Money Transfers
Fees for a Bank of Scotland international money transfer vary based on the payment type and destination zone. Here are the charges a Bank of Scotland customer must pay for making an overseas transaction:
| Payment Type | Bank Fees |
| International Payments in EUR | Nil |
| Other payments from the Bank account | GBP 9.50 |
| International Transfer to Zone 1 (the USA, non-EEA nations, and Canada) | GBP 12 |
| International Transfer to Zone 2 (Rest of the World) | GBP 20 |
Exchange Rates for Bank of Scotland International Transfers
The standard exchange rate of a Bank of Scotland international money transfer is dependent on the amount being transferred. The standard exchange rate has a margin, which is the difference between the purchasing and selling price of a currency in the foreign exchange market. Here is the estimated margin for different payment values in GBP:
| Payment Value | Current Margin for transferring funds outside the UK or in a foreign currency |
| 0 to GBP 10,000 | 3.55% |
| GBP 10,000 to GBP 50,000 | 2.40% to 3.55% |
| GBP 50,000 to GBP 100,000 | 2.40% to 2.10% |
| GBP 100,000 to GBP 250,000 | 2.10% to 1.50% |
| GBP 250,000 and more | 1.50% |
Tips for Bank of Scotland International Money Transfer
There are various pros and cons of using banks for international money transfers but there are some smart way of using Bank of Scotland overseas money transfer that can save you time and money. Here are some practical tips to consider:
- Compare Costs: Fees and margins can add up. Alternatives like Wise or Revolut often offer mid-market rates with lower fees.
- Time It Right: Transfers within market hours (7 AM–5 PM GMT) avoid extra premiums on exchange rates.
- Use IBAN/SWIFT: Ensure accuracy to avoid delays or extra charges.
- Batch Payments: Larger transfers get better margins, so consolidate where possible.
Why Choose Bank of Scotland for International Payments?
A Bank of Scotland international money transfer offers unique benefits for global payments. Here’s why it might be your go-to option:
- Convenience: 24/7 access via app or online banking.
- Wide Reach: Supports transfers to most countries and major currencies.
- Trusted Name: Backed by centuries of banking expertise.
However, if cost is your priority, specialist forex services might save you more on currency exchange and fees.
A Bank of Scotland international money transfer is a reliable way to send funds abroad, whether you’re handling personal remittances or business payments. With clear steps for Internet Banking and the Mobile App, flexible limits, and a range of currencies, it’s user-friendly for most. Just watch out for fees and exchange rate margins—comparing options could stretch your money further.
FAQs on Bank of Scotland International Money Transfer
Ans. Bank of Scotland international money transfer takes 24 hours to 5 working days to complete an overseas transaction. The delivery time depends on the currency in which you make the payment and the country in which the recipient is residing.
A Bank of Scotland international money transfer allows you to send funds outside the UK using Internet Banking or the Mobile App. It supports multiple currencies and destinations, split into Zone 1 and Zone 2, with applicable fees and exchange rates.
Ans. Bank of Scotland overseas money transfers can be made through the Internet Banking portal and Mobile App of this financial institution. Log into Internet Banking or the Mobile App, select “Send Money Outside the UK,” enter recipient details (name, IBAN/SWIFT), choose the amount and currency, and confirm the payment. New recipients require phone verification.
Ans. The bank charges no money for international transfers in EUR, GBP 12 for transfers to non-EEA countries, USA, and Canada, and GBP 20 for overseas transfers to the rest of the world.
With Bank of Scotland international transfer you can send money in currencies like EUR, GBP, USD, AUD, CAD, CHF, JPY, NZD, SGD, and NOK. These cover major markets, with delivery times varying by destination.
Bank of Scotland international money transfer limits depend on the channel: GBP 10,000 via Telephone Banking, GBP 100,000 per day online (Internet Banking/Mobile App), and no limit in-branch.
Yes, exchange rates include a margin (1.50%–3.55%) based on transfer size. For example, a GBP 1,000 transfer might lose GBP 35.50 to the margin plus a fee.
Yes, you’ll need the recipient’s IBAN or account number, and for EEA transfers, the SWIFT/BIC code (Bank of Scotland’s is BOFSGB2S) to ensure smooth processing.
While direct tracking isn’t detailed, you can confirm receipt with the recipient or contact Bank of Scotland’s support for updates on your overseas transfer.
Stay connected with Fly Finance and Leverage Edu to know about international money transfer options while planning your study abroad journey.
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