International money transfer limits

Compare international money transfer limits

How much money are you allowed to send overseas from Australia in one transaction?

Before you send an international money transfer, it’s important to compare transfer providers to find the best possible deal. A brief comparison will help you save money and take the stress out of the transfer process.

One of the factors you should consider when comparing transfer companies is the limits that apply to transfer amounts. Minimum and maximum limits often apply and vary from one company to the next, so let’s take a closer look at what those restrictions are and how they might affect you.

Search and compare international money transfers

Rates last updated November 20th, 2017
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.
Exclusive: OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Exclusive: WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
XE International Money Transfers
AUD 0
1 day
Online, Phone, Bank Account to Bank Account
Enjoy fast, secure and fee-free international money transfers from global payments provider XE.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Make your first transfer for free
Send money in more than 40 currencies.
Foremost Currency Group
AUD 1,000
1 day
Online, Phone, Agent, Bank Account to Bank Account
Trade over 40 currencies with no transfer fees with Foremost Currency Group.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

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Minimum and maximum limits

To give you an idea of the restrictions money transfer companies and banks impose on international money transfers, check out the table below. As you can see, limits can vary quite substantially depending on the institution you choose to handle your transaction.

Note: If the maximum transfer amount is blank, it means that there is no maximum amount.

ProviderType of transfer providerMinimum transfer amountMaximum transfer amount
ANZBank$0$25,000
Commonwealth BankBank$0$2,000 default; can be upgraded to $5,000 (NetBank limit)
NABBank$0$20,000
WestpacBank$0$10,000
HSBC Multi Currency AccountBank$0$50,000
Citibank Plus Everyday AccountBank$0$10,000
CurrencyFairOnline transfer provider$8
TorFXOnline transfer provider$200
OFXOnline transfer provider$250
WorldFirstOnline transfer provider$2,000
Travelex International PaymentsOnline transfer provider$500
HiFXOnline transfer provider$50
TransferWiseOnline transfer provider$1$18,000,000
Currency OnlineOnline transfer provider$0
AFEXOnline transfer provider$500
Compass Global MarketsOnline transfer provider$1,000
1st ContactOnline transfer provider$0
WorldRemitOnline transfer provider$0$8,000
MoneyCorpOnline transfer provider$2,000$100,000
Western UnionCash transfer provider$1$5,000
MoneyGramCash transfer provider$1$3,000

Government regulations

It’s also important to note that the Australian Government monitors large overseas money transfers. While it doesn’t impose any restrictions on the amount you can send overseas, the federal government still tracks large transfers through regulatory body AUSTRAC (Australian Transaction Reports and Analysis Centre).

AUSTRAC collects data on overseas transfers of more than $10,000, with the aim to prevent money-laundering, funding of international terrorism and a range of other serious crimes. The bank or money transfer provider that handles the transfer must report the details of the transaction, including your account information, to AUSTRAC. If you’re unwilling to provide the necessary information, the transaction may be declined.

How transfer limits will affect you

If the minimum transfer limit is too high

Some providers impose a high minimum limit on each transaction, such as $500 or even $1,000. If you only need to transfer a small amount of money, these providers will reject your transaction.

If the maximum transfer limit is too low

Sometimes you may find that the amount you wish to transfer overseas exceeds a provider’s maximum limit. In some cases you can contact the money transfer provider and request that your transfer limit be raised; otherwise you will either have to split the transfer up into separate transactions or use another transfer provider with a higher limit.

With this in mind, it’s important to shop around and compare the transfer limits of different banks and transfer providers. If a company’s minimum or maximum limit is likely to restrict your ability to send money overseas, look elsewhere to find a better deal.

Different types of limits

The most common transfer limit you will come across when sending an international money transfer is a per-transaction limit. However, you should also be aware that some providers will impose other limits, including:

Per-day limits

Check to see whether your bank or money transfer company imposes a limit on the total amount you can transfer per day.

Per-month limits

Other limits may apply to the total amount of money you can send in any given time period, such as per week or per month.

Per-person limits

In some circumstances, there may be a limit on the amount of money you can transfer to any one person or account.

Transfer method limits

The company may also have different transaction limits based on the transfer method you select. For example, while the online transfer limit might be set at $5,000, you may be able to send a larger amount if you visit your nearest branch to place the transfer.

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How to choose a money transfer provider

Transfer limits are just one of the factors you need to consider when choosing an international money transfer provider. You’ll also need to compare a range of other features including:

Affordability

There are two main expenses to consider when sending money overseas: exchange rates and transaction fees. Finding the best exchange rate is critical to getting value for money, but you need to be careful that the company with the best rates doesn’t also charge high fees.

Convenience

Consider how quick and easy it is to send a transfer with each provider. Is its transfer system easy to use? Can you lodge transfers online, via a smartphone app or over the phone, or do you need to visit a branch?

Flexibility

Check to see whether there are a range of options available for placing transfers. For example, you might be able to save money by placing a forward contract or limit order, or save time by scheduling recurring payments in advance.

Choice

How many currencies does the provider support? Will you be able to send transfers in any currency you want? Also consider how your beneficiary will receive the money: will it be paid straight into their bank account, or is there a cash pickup option available if required.

Speed

Compare transfer processing times between different companies to find out how long your beneficiary will have to wait to receive the money. If you ever need to send an emergency transfer as quickly as possible, is there an option to do so?

Access to customer support

This is an important consideration but also one that is often overlooked. Make sure that you will have quick and easy access to customer support if something ever goes wrong with a transaction.


By comparing transfer limits and a range of other features, you will find an international money transfer provider that offers an affordable and convenient way to send money overseas.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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International Money Transfer Offers

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TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

Exclusive: OFX (Ozforex) International Money Transfers

Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.

Exclusive: WorldFirst International Money Transfers

Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.

FC Exchange International Money Transfers

FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.

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