Yes, we charge fees for international payments.
For inbound payments we will charge a £4 fixed fee for any payment above the value of £10, plus a 1.5% fee if we need to convert from a foreign currency into GBP.
If the value of an inbound international payment is below £10, but it has been sent in a foreign currency, only the 1.5% conversion fee will be applied as the payment value is too low for the £4 fixed fee to apply.
If a payment is sent to you in a currency other than GBP, it is possible that the sending bank, or another bank in the chain handles the FX. The rate used by these banks may vary, but we will always show you on the transaction in the app. In these scenarios, only the £4 fixed fee would apply.
You can view any fees you’ve been charged as separate transactions on your transaction history in the Mettle app.
Our full list of account fees, including for international payments, can be viewed on our Fee Information Document on our website.
Example international payment fees
If you were sent £1,000 from abroad, your Mettle account would be credited with £1,000 and a fixed fee of £4 would be charged.
If you were sent $1,000 from abroad, your Mettle account would be credited with £744 (based on an example USD to GBP mid market conversion rate of 0.744) and a fee of £15.16 would be charged - (£4 fixed fee + £11.16 currency conversion fee).
If you were sent £6 from abroad, your Mettle account would be credited with £6 and no fees would be charged
If you were sent $6 from abroad, your Mettle account would be credited with £4.47 (based on an example USD to GBP mid market conversion rate of 0.744) and a currency conversion fee of £0.07 would be charged.