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We know that foreign exchange is essential to your business. That is why we have made our FX margins simple and clear.
Our FX margin is the difference between the Bank of Scotland exchange rate and the rate at which we buy and sell currency in the wholesale foreign exchange markets.1
Customers converting more than £250,000 of FX annually are eligible for a reduced margin. Please speak to your Relationship Manager or Business Management Team to find out more.
Alternatively, if you would like to speak to a Foreign Exchange Specialist, complete our quick and simple online enquiry form.
Make an enquiry
You need to make a payment of €1,000 to a supplier in Spain. If the current GBP/EUR wholesale rate is 1.1900 the Bank of Scotland exchange rate applied to that payment would be 1.1662, based on our standard FX margin of 2%. This means £857.49 would be debited from your account.2
A customer in the United States makes a payment of $500 to your GBP account. If the current GBP/USD wholesale rate is 1.2600 the Bank of Scotland exchange rate applied to the incoming payment would be 1.2852, based on our standard FX margin of 2%. This means £389.04 would be credited to your account.2
You need to transfer €2,000 from your EUR account to your GBP account. If the current GBP/EUR wholesale rate is 1.1900 the Bank of Scotland exchange rate applied to that transfer would be 1.2138, based on our standard FX margin of 2%. This means £1,647.72 would be credited to your GBP account.2
Manage your accounts when and where it suits you
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1Different pricing structures apply to debit cards, credit cards and travel money.
2Additional charges may apply.
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Bank of Scotland plc Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 169628.
We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
The Lloyds Banking Group includes companies using brands including Lloyds Bank, Halifax and Bank of Scotland and their associated companies. More information on the Lloyds Banking Group can be found at lloydsbankinggroup.com.
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