International money transfer limits

Compare international money transfer limits

Information verified correct on December 8th, 2016

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 December 8th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
AUD 200 1 day Online, Phone, Agent Go to site More
Exclusive: World First Foreign Exchange
Exclusive: World First Foreign Exchange
Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
AUD 500 2 days Online, Phone Go to site More
Exclusive: CurrencyFair International Money Transfers
Exclusive: CurrencyFair International Money Transfers
Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.
EUR 8 2 days Online Go to site More
FC Exchange International Money Transfers
FC Exchange International Money Transfers
No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent. GBP 3,000 1 day Online, Phone, Bank Account to Bank Account Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com.au exclusive exchange rates and $0 transfer fee on all transfers.
AUD 250 1 day Online, Phone, Agent Go to site More
Currency Online International Money Transfers
Currency Online International Money Transfers
Enjoy regular scheduled transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free. AUD 0 2 days Online, Phone Go to site More
Compass Global Markets International Money Transfers
Compass Global Markets International Money Transfers
Send money in as little as 24-48 hours to a range of countries with Compass Global Markets. AUD 1,000 2 days Online, Phone Go to site More
1st Contact International Money Transfer
1st Contact International Money Transfer
$0 online fee without any minimum limit on money transfers. AUD 0 2 days Online, Phone, Bank Account to Bank Account Go to site More
Currency Solutions International Money Transfers
Currency Solutions International Money Transfers
Send money overseas for a range of reasons, including regular payments and buying overseas property. 97% Trustpilot score. AUD 3,000 2 days Online, Phone, Bank Account to Bank Account Go to site More

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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
World FirstOnline transfer provider$500
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$50$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

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

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