How Much Money Can I Send Overseas From Australia?

Find out how much money you can send overseas from Australia before beginning your transfer here with Savvy.

Last updated on July 20th, 2022 at 04:52 pm by Cate Cook

Find out how much money you can send from Australia

The question of how much money can be sent overseas from Australia is a very important one, as it affects thousands of people who are either living, working or studying in Australia and wish to send money home to their families. Find out what amount you’ll be able to send from Australia internationally with Savvy, compare money transfer providers here and start your overseas transfer today.

site-logos Xe
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From $0 100
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most money

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site-logos OFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $250 1-3 days $0 50+
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OFX offers speed, security and simplicity with no hidden fees, total transparency and real people support 24/7

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site-logos Wise Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From 0.41% 53
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Send money cheaper and easier with Wise with no hidden fees.

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site-logos TorFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $200 0-2 days $0 35
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Excellent exchange rates with no transfer fees. Trusted by over 55,000 customers. Awarded Canstar’s 5 star rating 2018-2021.

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site-logos SingX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 30
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SingX offers live exchange rates with no mark ups and only charge a nominal fee shown to you upfront

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site-logos Remitly
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 21
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countries

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More information on how much money you can send from Australia

How much money can I send from Australia with an international money transfer?

Typically, you can send as little as $1 up to as much as $500,000 or more with an international money transfer provider. However, transfer limits vary between providers. For example, Western Union has a $5,000 daily limit and a $50,000 upper transfer limit. There are also some services who require a minimum transfer of $200 to $250, which may make them unsuitable if you want to transfer a lesser sum. It’s important to compare providers with Savvy to find one which can accommodate the size of transfer you’re looking to make.

International transfers also depend on the required currency being available in the destination country of your choice. The smaller, more remote and less common your destination, the lower the availability of the currency is likely to be. For example, if you wish to make a large transfer to one of the more popular destinations for transfers from Australia, such as New Zealand, the USA, the UK or India, your provider would have no problem exchanging a large sum, as millions of dollars are transacted between these nations per month. However, if you wish to transfer a large sum (such as AUD $100,000) to a small Pacific Island nation, your provider may need more time to see if sufficient currency is available to enable this transfer to take place and you may not be offered the cheapest exchange rate or fees.

What regulations are in place in Australia for how much money you can send overseas?

Anyone wishing to transfer more than $10,000 out of or into Australia must report the transaction to the Australian Transaction Reports and Analysis Centre (AUSTRAC). This is the government body charged with tracking international money trails under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

If you wish to transfer more than $10,000, your service provider will complete the declaration to AUSTRAC on your behalf, but you may be asked to provide further details to be included in the declaration. Such details may include:

  • the reason for the transfer
  • the legal identity of the intended recipient
  • proof of the origin or source of the funds being transferred
  • proof of the legitimacy of the reason for the transfer

In practical terms, for example:

  • if the transfer involves the purchase of a property overseas, an AUSTRAC compliance officer may ask to see the sale contract relating to the property
  • if the transfer involves an inheritance from a deceased estate, a copy of the Will bequeathing the funds may be asked for
  • if the transfer involves a business purchase for goods or services, a copy of the sale or engagement contract may be required to be provided

If such detailed documentation is required, it may cause delays in your transfer while compliance issues are resolved. Smaller cash transfers won’t be subject to such restrictions, so delays due to compliance with AUSTRAC regulations won’t be an issue.

How else do I compare international money transfer providers?

There are many ways you can go about comparing different offers from types of transfer providers. Some of the main features to consider during the comparison process with Savvy include:

Exchange rates

Naturally, the exchange rate you’re offered will have the greatest impact on how cheap your transfer is. To help find the cheapest money transfer deal, look for a rate which is as close as possible to the mid-market advertised exchange rate. The mid-market exchange rate is the rate exactly halfway between the buy and the sell price on the international money market and represents the highest available rate to you.


Next, look at the fees charged. There are a few different ways that transfer providers make their money:

  • charge a set fee per transfer (up to $15)
  • charge a percentage of the transfer as a fee (around 0.40% to 0.55%)
  • offer free transfers, but include a mark-up on the exchange rate

Which of these fee structures will offer the best way for you to send your money overseas will depend on how much money you want to send overseas from Australia and where you want to send it. In general terms, set fees are better for larger amounts, while percentage fees are cheaper for smaller transfers.

Using the example of a larger transfer, you can compare two providers: one with a $15 flat fee and another with a 0.5% fee. If you wish to send $9,000, your percentage fee would be $45, while the flat fee would remain $15. However, if you only wanted to send $300, your flat fee would still be $15, but the percentage fee would only be $1.50.

Of course, the exchange rate offered must also be taken into consideration when comparing these transfers, while more remote and less common destinations will likely attract a higher fee. This illustrates why it’s so important to compare money transfer companies with Savvy before making your transfer.

Delivery times

The speed with which you need to send money overseas from Australia can also determine which transfer provider you use. While banks can take between three and five days to get your money to an overseas bank on average, international money transfer providers can get your money overseas either instantly if required or usually within two to three days. How long your international transfer takes will also be affected by weekends, public holidays, and the time you make your transfer. For example, if you schedule your transfer for a Friday afternoon, it may take longer than if you booked it on a Monday morning, as the weekend may delay your transfer.

Destination and currencies

Make sure the transfer company you choose offers services to your required destination in the currency you need. While some providers offer upwards of 100 global currencies, others only offer closer to 20 or 30, so it’s important to compare to find one which can allow you to make the transfer you need.

Frequently asked questions about sending money overseas from Australia

Is it better to transfer smaller amounts more often or make a larger international transfer?

If the international money transfer service provider you choose charges according to a ‘percentage of transfer’ fee model, it may not make much difference whether you make one large transfer or several smaller ones. However, if you’re using a service that charges a flat fee per transfer, it’ll be far cheaper to make larger but less frequent transfers if you wish to transfer money overseas regularly.

Can I send more money overseas through my bank?

All banks have their own daily transfer limits for retail customers, and the amount you can send overseas in one day may also be affected by your personal banking withdrawal limit. For example, some banks have a maximum withdrawal limit of $1,000 a day for a personal transaction account, while others may set this at $10,000.

Can I send money overseas to someone who doesn’t have a bank account?

Yes – you can send money overseas without using a bank account. There are various ways of doing this, including:

  • arranging a cash transfer with a pickup at the destination through a company such as Western Union or Remitly
  • arranging a phone top-up on a pre-paid mobile SIM card
  • arranging a transfer through a non-bank mobile app which allows you to deposit money in cash and transfer it directly to someone else’s international money transfer account on their mobile or tablet
  • arranging a transfer to a person’s digital wallet using their mobile number and Apple Pay (in some countries, but not all)
How long can I lock in my exchange rate when I’m transferring funds overseas?

How long you can lock in your exchange rate will depend on which company you use. Some transfer providers offer guaranteed spot prices for 12 to 36 hours. Other companies allow you to lock in the exchange rate you achieve by using a limit order, which means that you specify the exchange rate you wish to achieve and the transfer happens when your desired rate has been reached. Other companies allow you to lock in your exchange rate into the future using a forward contract, which can be anywhere up to a year or more. This is extremely useful if you are doing business internationally and there’s a delay between when you order goods or services and when you pay for them.