Lloyds axes foreign currency fees for Club Lloyds customers

(Image credit: Leon Neal via Getty Images)

published 14 April 2025

Club Lloyds customers will no longer need to pay foreign currency fees when withdrawing their cash abroad.

The new perk, which takes effect today, means subscribers will no longer be charged a debit card fee when they make payments in a foreign currency, withdraw money from an ATM, or take out money over the counter abroad.

The Club Lloyds account fee starts at £3 a month, although this will increase to £5 a month from 2 June.

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Customers who deposit £2,000 or more into their accounts a month will have this fee waived and can enjoy the perks associated with a basic ‘Club Lloyds’ account without the extra cost.

The removal of foreign transaction fees will make banking with Lloyds a more attractive option for frequent travellers.

By waiving foreign currency fees for some customers, Lloyds now joins many ‘challenger’ banks who have done the same, including Monzo, Starling, Chase.

What is Club Lloyds?

Club Lloyds is one of an increasing number of premium subscriptions for bank accounts that allow users to enjoy some extra perks.

Club Lloyds account holders will receive the aforementioned removal of foreign currency fees, but can also get a choice of a subscription to Disney+, cinema tickets, magazine subscriptions, and more.

More significantly, they are also given access to preferential rates on savings accounts, with interest rates up to 6.25%, making it among the best savings accounts on the market right now.

However, as mentioned previously, the perks come at a cost. The basic package costs £3 a month, the silver package costs £11.50 a month, and the platinum package costs £22.50 a month.

Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.