How do I transfer large amounts of money internationally?

The cheapest and fastest option is most likely an international money transfer provider. Specialist money transfer companies tend to offer the most competitive exchange rates and charge lower fees than your local bank. Use our table to compare providers' transfer speeds and fees.

What is the maximum amount of money I can transfer overseas?

There is no maximum limit on how much you can transfer overseas. Sending money overseas is not itself taxable, and your provider files the AUSTRAC report rather than you, but tax can still apply to the income or gain behind the money. Additionally, if you are sending $1 million or more overseas, check that your transfer provider can securely handle transfers of that size before getting started.

How can I instantly transfer large amounts of money?

One of the fastest ways to transfer money internationally is to use a cash pickup service. They allow your recipient to have almost instant access to the money you have sent, without the need for a bank account.

What is the safest way to transfer large amounts of money?

One of the safest ways to send large amounts of money abroad is to use a reputable, regulated money transfer provider or your bank. You will most likely find that specialist money transfer services are less expensive, and have robust security measures that will protect both parties involved.

Can I bring large sums of cash to another country?

There is no limit on how much cash you can bring into or out of Australia but you must report it to customs if you're carrying $10,000 AUD or more in foreign currency equivalent.

Thomas Stelzer, Journalist at Finder

Thomas Stelzer

Journalist

Tom Stelzer is a journalist with 6 years of experience covering personal finance in Australia and the UK, specialising in investment and cryptocurrency. His interests lie in digital assets and market trends, and helping readers navigate this fast-evolving world with expert analysis and insights. Tom holds a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney.

If you’re interested in a media interview with Tom, please reach out to our PR team at aupr@finder.com.