Lloyds Bank PLC SWIFT/BIC code

What LOYDUSM1 means for a payment to Lloyds Bank PLC

The 8-character code LOYDUSM1 and the full code LOYDUSM1XXX refer to the same bank: Lloyds Bank PLC in Miami,fl, United States. A BIC does one job: it ensures that a cross-border transfer reaches the right bank. You will need it mainly when dealing with payments that cross a border or a currency.

We wrote this page to help anyone who sends money to an account at Lloyds Bank PLC without mistakes. A SWIFT code names a bank or branch, not a specific account.

Incoming international payments to Lloyds Bank PLC

A sender in another country will ask for a few details about your account, and missing ones are a common cause of delays. Share the account holder’s name, your account number or IBAN, the BIC LOYDUSM1XXX and your address, which some banks require.

You can include Lloyds Bank PLC and its city as well, since some forms ask for it. Check the details before you share them.

Do not be surprised if the incoming amount is below what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin applies. Agree with the sender who covers the fees, especially for larger amounts.

Tracking a transfer to or from Lloyds Bank PLC

A SWIFT payment usually takes one to a few business days. Payments made after the cut-off time or just before a weekend or public holiday usually start the next business day. Occasionally a bank asks about the purpose of a payment.

If the money is late, ask the sending bank about the tracking status or the UETR so they can trace it along the chain. Keep the payment confirmation.

If the money does not arrive after a few business days, the person who paid needs to contact the bank that sent it, not the receiving bank. On the receiving end, it helps to look at your statements for a slightly lower amount, since fees may have been deducted.

8 or 11 characters: LOYDUSM1 versus LOYDUSM1XXX

A SWIFT code is made up of fixed blocks: characters one to four identify the bank, the next two show the country and the two after that mark the location. For Lloyds Bank PLC, that core is LOYDUSM1.

XXX at the end of LOYDUSM1XXX is not a placeholder or an error: it indicates the main office of Lloyds Bank PLC. Some forms insist on 11 characters, and then you simply add XXX after LOYDUSM1.

In practice the code is written in capitals, without spaces or dashes. A wrong character may route the money to a different institution.

International transfers from Lloyds Bank PLC: the real cost

When you send money abroad from Lloyds Bank PLC, the visible fee is rarely all of the cost. There is the fee for the transfer itself, sometimes fees charged by intermediary banks in between and, above all, the margin on the exchange rate when the money is converted.

Banks rarely show the margin on the rate separately – you only notice it if you compare. An easy check: set the rate you get next to the mid-market rate for the same moment and look at the difference.

Money transfer services frequently use a rate near the mid-market rate. On GoldexPay you can compare the amount that arrives across services. Using a transfer service does not mean closing your account at Lloyds Bank PLC – you pay the provider from your own account.

Lloyds Bank PLC: head office code versus branch codes

Lloyds Bank PLC has 2 different SWIFT/BIC codes. One of them is the head office code, LOYDUSM1XXX; the others belong to branches.

For most payments to a private or business account, the head office code LOYDUSM1XXX works fine. Just use a branch code when the account holder explicitly asks for it.

The best way is to take the code directly from the account holder’s invoice. Codes for branches are more likely to change than the head office code when a bank merges or closes offices.

Scams that use SWIFT codes

Scammers often send payment requests containing changed bank details sent from what looks like a familiar address. A real SWIFT code says nothing about whether the request is genuine – scammers simply use real codes.

Check new bank details through a separate channel. Pressure and requests to keep it quiet tend to be warning signs. Already paid? Contact the bank you paid from without delay and have them start a recall; also report it to the police.

Fraud also work the other way. Someone claims to have sent too much and asks you to refund the difference. Do not act before the money has really arrived.

Sending USD to Lloyds Bank PLC

Accounts at Lloyds Bank PLC are typically held in USD, the local currency of United States. Money sent in a different currency will be converted into USD before it reaches the account – and the bank that does it picks the rate. There is rarely a separate charge for that conversion; it is built into the rate.

Where the conversion happens affects the final amount, since every bank sets its own rate. Sending the amount already in USD often avoids a second conversion by Lloyds Bank PLC – as long as your own rate is good.

Rates for USD change during the day. If you pay regularly, small differences in the rate make a real difference over a year.

Is LOYDUSM1 still correct? How to check

The most reliable source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. If the code you have differs from LOYDUSM1 or LOYDUSM1XXX, do not guess.

A wrong SWIFT code may lead to a delay, a returned payment or extra fees along the way. A mistake in the account number can be more serious, because the money may be credited to someone else, so check that just as carefully.

A validity check by your bank only confirms that the IBAN is valid – not that it belongs to the person you mean to pay. Some banks now check the name against the account; take any warning seriously. Sending a small amount first can be a sensible step for large sums.

How up to date is this code?

The details on this page are taken from public sources that we update regularly. Still, banks merge or retire codes and our data may lag behind. The number of codes on this page reflect our own data and not on information from Lloyds Bank PLC itself.

Treat our data as a starting point, not as the last word. GoldexPay has no connection to Lloyds Bank PLC. If you notice something that is out of date, we welcome a short note.