Where are you sending the money?
Recognising how the destination impacts the limits of your transfer, will give you a better understanding of what sort of minimum and maximum amounts are able to 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 a matter of minutes to reach the recipient’s account, due to the fact 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 too. This is because you are sending money to someone else – either an individual or a business/organisation – who is located 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. 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 the service you have chosen. 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 of these methods will have their own specifications regarding limits to funds transferred through their platform. Learn about the various pros and cons of these 3 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 | Barclays | HSBC | Lloyds | Natwest |
| Minimum amount (GBP) | No minimum | £1.00 | £1.01 | £1.00 |
| Maximum amount (GBP) | Starts at £50,000 ranging to £250,000 | Up to £50,000 per day | Up to £100,000 per day | Up to £99,999.99 |
International money transfer limits
| Company | OFX | WorldRemit | Azimo | Currencies Direct |
| Minimum amount (GBP) | £100.00 | £1.00 | £10.00 | £100.00 |
| Maximum amount (GBP) | No limit | No limit | £12,000 for card payments £250,000 for SWIFT payments | £300,000 (or equivalent) |
Mobile money transfer limits
| Company | Wise | WesternUnion | PayPal | Revolut |
| Minimum amount (GBP) | £1.00 | £1.00 | £1.00 | No minimum |
| Maximum amount (GBP) | £1,000,000 (or equivalent) | £4,000 to £50,000 depending on payment method | Up to $25,000 (or equivalent) depending on payment method | No limits for most currencies; £500,000 per day limit for UK domestic transfers |
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.
Bottom line
The minimum and maximum amount permitted by any online money transfer is set by the provider. It’s important to make sure 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.
Related content
Elliott is a former investment banker with a 20 year career in the city of London.
During this time he held senior roles at ABN Amro, Societe Generale, Marex Financial and Natixis bank, specialising in commodity derivatives and options market-making.
During this time, Elliott’s client list included Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System, amongst others.
April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.