Best Option for Receiving USD Payment

Hi all - My wife has been doing some work contracting for an overseas firm on a self employed basis (she does not have a ltd company). She is invoicing the company around $5k USD and will receive the payment to a UK bank account. Her main account is Lloyds, but I assume Lloyds will charge a fee for receiving a USD payment? Will it make more sense to get the money sent to Starling or Wise and then move to Lloyds once it’s in GBP? Thanks for any feedback

Have a look at what the fees are for Lloyds, Starling and Wise? And pick the cheapest?

Or am I missing something?


How do I know the fees at Lloyds for receiving a payment? I can’t see that anywhere.

Did you trying Googling it?


There’s a flat fee for receiving a foreign currency transfer, and the exchange rate Lloyds will use won’t be the ‘true’ exchange rate for the day as it will include a margin for them.

You can find out what the exchange rate might be by phoning them or visiting your local branch.

If you call your bank they’ll tell you

Usually Wise is the cheapest option. Whether it’s worth setting up for one payment is a valid question, but if the work is likely to be repeated / there’s other contract work abroad on the horizon I’d probably do that.

Starling offer a USD account for business customers I believe. Not a clue what the conversion would be other way round. Probs still Mastercard.

Thanks all for your guidance

Revolut Pro might also be an idea.