How much money are you allowed to send overseas from the United States in one transaction?
Minimum and maximum limits
To give you an idea of the restrictions money transfer companies and banks impose on international money transfers, check out our table below. As you can see, limits can vary substantially depending on the money transfer provider you choose to handle your transaction. Learn more about providers with no maximum limit.
What’s the most amount of money I can send to a person in a single day?
The Internet has ushered in a slew of new digital providers that allow you to send as much as you need to with no limits, full stop. But no maximum can sometimes mean higher minimums — for instance, you can transfer as much as you want with World First, but you need to send at least $1,000 a pop. Ditto the $500 minimum transfer that comes with the no-max Travelex.
Other money transfer specialists come with maximum transfers that should be well within the needs for most people. In this group is big-name provider Western Union, which allows up to $5,000 a transaction, and digital provider TransferWise, offering transfers of up to a whopping $50,000 daily (though if you do send this daily amount frequently, you’ll quick hit the $199,999 maximum per year).
A big perk of these online companies is superior exchange rates and lower fees than most any bank can offer, keeping more money in the pockets of you and your recipient.
Compare minimum and maximum transfer limits
| Money transfer specialist | Minimum transfer | Maximum transfer |
|---|---|---|
| OFX | $150 | No limit |
| HiFX | $50 | No limit |
| World First | $1,000 | No limit |
| WorldRemit | $1 | No limit |
| Travelex International Payments | $500 | No limit |
| TorFX | $200 | No limit |
| Currency Online | $0 | No limit |
| Western Union | $1 | $5,000 a transaction |
| TransferWise | $1 | Individuals — $49,999 a day and $199,999 a year Businesses — $199,999 a day and $1 million a year |
| Xoom | Depends on country. | $2,999 every 24 hours, up to $6,000 every 30 days and up to $9,999 every 180 days |
| MoneyGram | $1 | $6,000 per online transaction and up to $6,000 every 30 days |
| Ria | $1 | $2,999 a day and up to $7,999 every 30 days |
How transfer limits 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’re looking to transfer only a small amount of money, you’ll need to find another provider.
If the maximum transfer limit is too low
You could 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 and ask them to raise your transfer limit. Otherwise, you’ll need to split the transfer into separate transactions or use another provider with a higher limit.
With this in mind, shop around and compare the transfer limits of at least three banks and transfer providers. If a company’s minimum or maximum is likely to restrict your ability to send money overseas, look elsewhere to find a better deal.
Search and compare international money transfers
Different types of limits
With most international money transfer providers, you’re limited to a specific amount per transaction. But you’ll find providers that limit how much you can send in a variety of ways.
Per-day limits
Your bank or money transfer company could impose a limit on the total amount you can transfer each day.
Per-month limits
Other limits can 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, a provider will limit the amount of money you can transfer to any one person or account.
Transfer method limits
Providers may also limit how much you can send by the transfer method you select. For example, while an online transfer might be limited $5,000, you might be able to send a larger amount by visiting the nearest branch to place the transfer in person.
How to choose a money transfer provider
Transfer limits are just one factor to weigh when comparing international money transfer providers. Also consider a range of other features that can include:
Affordability
You have two main expenses to consider when sending money overseas: exchange rates and transaction fees. Finding the best exchange rate is critical to getting the best value for you money — but 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 the transfer system easy to use? Can you complete transfers online, via an or over the phone — or do you need to visit a physical location?
Flexibility
Look into whether there’s a range of options when placing transfers. For example, you might be able to save money with a forward contract or limit order that locks in a low rate or save time by scheduling recurring payments in advance.
Choice
How many currencies does the provider support? Can you 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, can you take advantage of an option to do so — even if you have to pay more for it?
Access to customer support
This is an important consideration, but also one that’s easy to overlook. Make sure that you have quick and easy access to customer support if something ever goes wrong with a transaction. Look for multiple ways to get support beyond a call or email, including real-time live chat, an extensive FAQ or Help section and even text support.
By comparing transfer limits along with a range of other features, you can find an international money transfer provider that offers an affordable and convenient way to meet your specific needs when sending money overseas.
