Halifax International Transfer: Fee and Transfer Time (UK)
If you’re a Halifax customer and you need to send money abroad, you’ll want to know some details about Halifax international transfers.
This guide has you covered with all the details of international transfer fees, costs and processing times. Let’s get started.
Halifax international transfer fee
Sending an international payment will come with a cost. However, the way different providers set out their prices for international transfers can be confusing. You may spot fees described as:
- Transfer or administration fee
- FX spread or currency conversion charge
- Correspondent or agent bank fee
- Recipient bank costs
With Halifax there are 3 charges to think about - the transfer fee, an FX spread which is added to the exchange rate used, and the agent/correspondent bank charge.
The transfer fee is waived if you’re sending a payment in euros - but you may still pay the other costs set out above. It’s also good to know that in some cases you may not be able to pay the correspondent bank charge upfront. Instead this amount is deducted from the payment as it’s processed, which can make it hard to figure out exactly how much your recipient will get in their account in the end.
More on that in a moment - let’s start with a cost example to give a comparison of Halifax against some other popular international transfer providers.
Cost example: Sending £1000 to a USD account online
| Provider | Transfer fee | Exchange rate used (1 GBP - USD) | Recipient gets |
|---|---|---|---|
| Halifax | £9.50 £12 correspondent bank charges are paid by the recipient | Mid-market rate + up to 3.55% FX spread | Log into online banking to model payment and check overall costs |
| Wise | £4.25 | 1.38645 | $1,380.56 |
| Xoom | £1.99 | 1.3673 | $1,367.30 |
| Barclays | No upfront fee | 1.34857 | $1,348.57 |
*Fees and exchange rates correct at time of research - 19 April 2021
Halifax correspondent bank charges
It’s important to understand that there may be additional costs when sending an international payment with Halifax. These costs are known as agent bank charges or correspondent bank charges. This fee is paid to other banks involved in processing the payment as it passes through the SWIFT network.
In some cases you can opt to pay the correspondent bank fee yourself - if not, the charge will be deducted from the sent amount as it is processed. Here’s the cost of paying correspondent bank charges yourself:
| Destination country | Halifax correspondent bank fee |
|---|---|
| Zone 1 - Canada, US and Europe (non-EEA) | £12 |
| Zone 2 - rest of world | £20 |
International transfers exchange rate
The exchange rate used by Halifax is calculated by adding a percentage margin or markup to the mid-market exchange rate. The exchange rate is the one you’ll find on Google, for example.
The amount of additional markup used depends on the transaction value - here’s what you need to know.
| Transfer value GBP | Halifax markup |
|---|---|
| Up to £25,000 | 3.55% |
| £25,000.01 - £75,000 | 2.4% |
| £75,000.01 - £250,000 | 2% |
| £250,000.01 and above | 1.5% |
Not all international payment providers add a markup to the mid-market rate, so it’s well worth comparing the rates on offer from a few different services before you choose one.
How to make a Halifax money transfer?
The easiest way to send a Halifax international transfer is online. Here’s how:
- Sign into your online banking service, or open the Halifax app
- You can then select a recipient if it’s someone you’ve previously sent money to, or create a new recipient if it’s someone different
- Choose the currency you want to send and the amount
- Check the fee and exchange rate available against some alternatives
- If you’re happy to proceed, click confirm and you’re done
If you’re sending money to someone for the first time, you’ll need to add their details to get your payment processed safely. You can expect to need to know:
- Recipient’s name and address
- Name and address of the bank which holds the account
- IBAN or account number
- SWIFT/BIC code
- Some destination countries require additional details like a routing number or sort code
How long does a bank transfer take with Halifax?
The amount of time it takes for your money to arrive depends on the country and currency involved. There may also be delays if you’re arranging the payment outside of banking hours, or during public holidays - either here at home, or in the destination country.
To have your payment processed on the same day you place it you’ll have to get it arranged before the cut off time for your currency which is usually 2pm or 3pm depending on how you set up the transfer.
This is the likely delivery time if your payment request arrives before the cut off time:
| Sending money to | Halifax international transfer arrival time |
|---|---|
| UK, EEA, Monaco, Switzerland or San Marino - in euro | Next working day |
| Another EEA country - in GBP, another EEA currency or Swiss francs | No later than 4 working days |
| North America, Canada, South Africa, Australia, New Zealand, Middle East and Far East | Should not take more than 4 working days |
| Rest of world | Should not take more than 14 working days |
How much can you transfer online with Halifax?
You can make international transfers worth up to £100,000 per day with Halifax online and mobile banking.
Halifax UK contact
If you need to ask a question about your Halifax international payment you can visit a branch, call the service centre, or use the FAQ and help resources available online.
- Find your closest branch with a Halifax branch locator
- Call Halifax - there are different phone numbers depending on the query type so you’ll need to find the right number for your needs online to get started
- Use social media - Halifax have a presence on Twitter and Facebook
- Write to Halifax: Halifax, PO Box 548, Leeds, LS1 1WU
So there you have it - all you needed to know about international transfers with Halifax. No matter where you’re sending your money, it’s a smart idea to compare a few providers, and read the terms and conditions of the transfer thoroughly to make sure you're getting a good deal for your needs.