Where are you sending the money?
Recognising how the destination impacts your transfer limits will give you a better understanding of what sort of minimum and maximum amounts can be sent and received. We have outlined the key differences between a domestic and international money transfer below.
Domestic transfer
These types of payments can take minutes to reach the recipient’s account because the benefactor and beneficiary are both in the same place, and sometimes you are transferring money between bank accounts with the same institution. As well as being quicker than international transfers, domestic money transfers are typically much cheaper. This is because you are sending money to someone else - either an individual or a business/organisation - who is in the same country as you. Domestic transfers can be made using your online banking or through a money transfer company, and details regarding the minimum and maximum limits will be outlined by the provider. Please read our guide to transferring money between
International transfer
An international money transfer refers to the process of sending money to someone overseas. This can be completed online through your bank or with the help of a specialist provider. Either way, it will take longer than a domestic money transfer, depending on your chosen service. International money transfer specialists make it their business to send money abroad instantly, but this type of transfer is determined by the destination country/currency involved. Find out more about the rules and regulations that apply to international money transfers.
What online method are you using to send money?
The most popular methods of transferring money online include:
Online banking
Money transfer companies
Mobile payment apps
Each method will have its own specifications regarding limits to funds transferred through its platform.Learn about the various pros and cons of these three online money transfer methods.
How much money can you transfer online?
No matter which online method you use to move money from A to B, every provider will allow different daily payment amounts.To give you a better understanding of how much money you can transfer online, we will present the guidelines of 4 top companies in each sector.
International bank transfer limits
| Company | ANZ | Macquarie | Commonwealth Bank | Bendigo Bank |
| Minimum amount (AUD) | No minimum | $250 | No minimum | No minimum |
| Maximum amount (AUD) | Starts at $1,000 ranging to up to $10,000 | Up to $100,000 per day | Up to $5,000 per day | Up to $30,000 |
International money transfer limits
| Company | OFX | WorldRemit | Azimo | Currencies Direct |
| Minimum amount (AUD) | $100 | No minimum | No minimum | $100.00 |
| Maximum amount (AUD) | No limit | $100,000 | $12,000 for card payments $250,000 for SWIFT payments | $250,000 |
Mobile money transfer limits
| Company | Wise | WesternUnion | PayPal | Revolut |
| Minimum amount (AUD) | $1.00 | $1.00 | $1.00 | $35 |
| Maximum amount (AUD) | $1,500,000 (or equivalent) | $5,000 to $50,000 depending on the payment method | Up to $10,000 (or equivalent) depending on the payment method | No limits for most currencies; £500,000 per day limit for UK domestic transfers |
How much money can you transfer online?
The amount of money you wish to transfer online depends entirely on the purpose of your payment. While some send money online to make mortgage repayments or pay overseas employees, others may want to simply send money as a birthday gift or to split the cost of a bill. There are a number of reasons why you may need to familiarise yourself with the limits of your money transfer, and in this guide, we will outline online money transfer requirements.
How much money can you transfer online from Australia?
There is no legal limit to the amount of money that you can transfer online from Australia; however, different providers will have their own limits. It’s a good idea to read the full terms and conditions for your chosen remittance company to see what their maximum or daily limits are. If you are sending a large payment over A$100,000, your money transfer service is required to report it to AUSTRAC, and this is known as a threshold transaction report. The report is per the terms of the Money Laundering and Counter-Terrorism Financing Act 2006, and your details, as well as those of your recipient, will be collected by AUSTRAC and other state agencies.
Bottom line
The minimum and maximum amounts permitted by any online money transfer are set by the provider. It’s essential to ensure that the service you pick suits your needs and supports secure transfers in your currency. Some companies specialise in transferring larger sums of money, while others are better equipped to facilitate recurring, midsize money transfers. No matter what the size of your transfer, there will always be a reliable company to assist you. Use our comparison tool today and find out how much your chosen provider can transfer for you.
