Natwest state they charge £7. Rather less than £276.21. The exchange rate loss only occurred (if it did occur) because they held my money hostage until they decided to terminate the account, then refunded it when the rates were not equivalent. That is theft, no matter how you look at it.

http://www.natwestinternational.com/nw/personal-banking/travel-and-international/g50/international-payments/receiving-international-payments/bank-to-bank-electronic-links.ashx