Compare international money transfer limits

How much money are you allowed to send overseas from the United Kingdom in one transaction?

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Before you send an international money transfer, it’s important to compare transfer providers to find the best possible deal.

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.

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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.

    Compare minimum and maximum transfer limits

    ProviderMinimum transfer amountMaximum transfer amount
    OFX£100.00No limit
    HiFX£50.00£300,000.00
    World First£1,000.00No limit
    WorldRemit£1.00£30,000.00
    TorFX£50.00No limit
    Western Union£1.00£5000.00
    TransferWise£1.00£1,000,000.00

    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.

    Government regulations
    It’s also important to note that the UK Government monitors large overseas money transfers through financial intelligence services such as the Financial Conduct Authority (FCA) and HM Revenues and Customs (HMRC). While neither impose any restrictions on the amount you can send overseas, the government still tracks large transfers through regulatory bodies.

    The UK Government collects data on high value overseas transfers 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 in some cases must report the details of the transaction to UK Government. If you’re unwilling to provide the necessary information, the transaction may be declined.

    Search and compare international money transfers

    Table: sorted by a combination of service offering and the amount your recipient will receive

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    GBP 2,000 1 day GBP 0.00 1.18 EUR
    11,796
    TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
    (Conditions apply)
    Go to site Show details
    GBP 1,000 1 - 2 days GBP 0.00 1.18 EUR
    11,796
    Better exchange rates for Finder customers.
    Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
    Go to site Show details
    GBP 3,000 1 day GBP 0.00 1.18 EUR
    11,796
    Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
    GBP 2,500 1 day GBP 0.00 1.18 EUR
    11,796
    With 17 years of foreign exchange expertise, OFX know the money transfers business very well, offering facilities for one-off and recurring transfers. Go to site Show details
    GBP 2,500 1 day GBP 0.00 1.18 EUR
    11,796
    Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
    USD 1 1 - 2 days GBP 0.00 1.18 EUR
    11,796
    Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
    GBP 50 Same day GBP 2.99 1.172 EUR
    11,721
    Use promo code 3FREE to send your first 3 transfers with no fee.
    Send money online anytime, anywhere, with a simple to use platform and transparent fees and exchange rates shown upfront.
    Go to site Show details

    Compare up to 4 providers

    Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

    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.

    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 the transfer system easy to use? Can you complete 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.

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    2 Responses

    1. Default Gravatar
      BrendaOctober 16, 2018

      My usa mutual fund is having problems wiring money to my UK bank as it does not have an affiliate bank in USA what can I advise

      • Avatarfinder Customer Care
        JoshuaOctober 21, 2018Staff

        Hi Brenda,

        Thanks for getting in touch with finder. I hope all is well with you. :)

        What you can do is first check with your mutual fund if there are other ways for you to receive your money. Check other transfer options available. From there, you should be able to know how you can receive the money. You may also ask your mutual fund if they can suggest other banks. You can open another bank account that you can use.

        I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

        Have a wonderful day!

        Cheers,
        Joshua

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