How to transfer large amounts of money to Australia from the UK

Need to send a large amount of money to Australia from the UK? Perhaps you’re buying a holiday home there and need to put down the deposit, or you’re moving there soon and want to transfer money to an Australian bank account in your name.

Whatever your plans, you’ll need to know the best way to make secure, cost-effective large transfers to Australia from the UK. We’re here to help, with a step-by-step guide covering how to do it.

We’ll also look at fees, exchange rates, limits and everything else you need to know. With our help, you can set up your transfer to Australia in complete confidence.

If you’re looking for a reliable and cost-effective way to transfer large sums to Australia, consider the money services provider Wise. With low, transparent fees*, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers simple and stress-free. Plus, you’ll receive dedicated support when sending large amounts.

Get expert support for your large transfer 📞

How to transfer large amounts of money to Australia from the UK

You have two main options for sending large payments overseas from the UK. These are your bank, or a specialist money transfer service.

Whichever option you choose, the process is likely to be similar. Let’s run through the main steps involved.

1. Get your recipient details together

Here’s what you’ll need:

• The recipient’s full name and address (this can be your own name if you’re sending money to your own Australian bank account)
• Their bank account number and BSB code (this is what Australian banks use as an alternative to the UK sort code)
• The name of their bank
• Their bank’s BIC or SWIFT number.

2. Check the fees and exchange rates

If you’re using a money transfer service, you should be able to check the details of your payment before you send. You can enter the amount, currency and destination, and see what fees you’ll pay and what exchange rate you’ll get.

It can be a little more difficult with banks. Some may offer a similar transfer calculator in online banking, but you may need to check the fees list for your account - and then contact the bank to find out about exchange rates (they may also have a page on their website with the latest rates).

You can use this information to compare banks and providers, to get the best deal on your transfer.

3. Set up your payment

Once you’ve chosen a transfer method, it’s time to set up your transfer. In most cases, you can do this online.

The only exception is if your bank has limits for international transfers carried out online. For example, Barclays lets you send a maximum of £50,000 online from personal accounts.¹

If you need to send more than this, you may need to visit a branch in person. Just make sure to take along some ID and all the details for your transfer.

If you’re sending a payment online, you’ll simply need to follow the on-screen steps and enter the details of the transfer when prompted. This includes:

• All the recipient’s details
• The amount you want to send
• The destination and currency.

You may also be asked about who will be paying the fees. Banks often give you three options - the sender pays all the charges (OUR), the recipient pays/the amount will be deducted from the payment itself (BEN) or you share the charges (SHA).

Money transfer services may also require you to sign up for an account, and either link a bank account or top it up with funds before you can make a payment.

Once you’ve checked everything carefully, you can confirm and send the payment on its way.

Need to send money to yourself? If you need to transfer money from your UK account to an Australian bank account in your name, you’ll need to follow the same process as above - just like with any other recipient.

It may be slightly different (and perhaps easier) though if the bank is the same in both countries. For example, if you bank with HSBC in both the UK and Australia, you can use the bank’s online Global Transfers service to move money between accounts for free.²

How much money can you send to Australia from the UK?

Your bank may have daily limits on how much money you can send from online banking, although you can usually make larger payments by visiting a branch in person.

The limits for money transfer services tend to be much higher.

For example, you can send up to 1.5 million AUD per transfer online with Wise.³

How long does it take to send large transfers to Australia?

When you send money to Australia using your UK bank account, your transfer will be sent via the SWIFT network. This means it can take anywhere from 1 to 4 days, although it could be quicker or slower than this.

It’s usually much faster with** money transfer services**, often only taking a day or two.

📚 Read more: How long do international bank transfers from the UK take?

Is it safe to transfer large amounts of money to Australia?

If you use a registered UK bank or a regulated, reputable money transfer service, it should be safe to send money to Australia - even for large transfers.

You also need to take common sense precautions though, such as avoiding sending money to people you don’t know and checking recipient bank details very carefully when entering them.

Fees and charges for transferring large amounts to Australia

There are bound to be some fees for sending money all the way across the world.

Let’s take a look at the kinds of charges you can expect when making a transfer to Australia from the UK.

Upfront transfer fee

Both banks and specialist transfer services tend to charge international transfer fees. These may be a fixed amount (usually the case with banks) or vary depending on the destination, currency and amount.

You can pay this fee separately, or add it to the amount you’re sending.

Correspondent/receiving bank fees

When you send money with a bank, it will be sent via SWIFT. This is a network of worldwide banks, who communicate with each other to send and receive transfers.

SWIFT transfers don’t always go straight from A to B - it’s often the case that multiple banks are involved along the way. And they may each charge their own fee, as may the receiving bank in Australia.

You’ll need to ask your bank about these correspondent/receiving bank fees, as info may not be available upfront.

GBP- AUD exchange rate

Alongside money transfer fees, you also need to factor in the exchange rate for converting your British pounds (GBP) to Australian dollars (AUD).

Money transfer services usually show you the rate you’ll get before you send, while with banks you may need to check in your online banking or on a separate page of the bank’s website.

How do you know you’re getting a good deal? Always compare the rate you’re offered to the mid-market exchange rate, to see how much of a markup the bank or provider has added on top.

Is it a good time to transfer GBP to AUD?

Exchange rates fluctuate all the time, so timing is key to getting the best possible rate on your transfer from the UK to Australia.

To find the perfect time to send your transfer, you can sign up for exchange rate alerts.

Wise – A low-cost alternative for large transfers

Looking for a secure, convenient and low-cost way to send large sums of money to Australia? Take a look at the Wise account from the money services provider Wise. It's not a bank account but offers some similar features and your money is safeguarded.

With Wise, you can send large amount transfers worldwide to 140+ countries for low, transparent fees* and you’re guaranteed the mid-market exchange rate with no markup.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Send up to 1.5 million AUD per transfer Low, upfront, transparent fees* and the mid-market exchange rates Dedicated support for large transfers Sophisticated security and anti-fraud measures, with your money safeguarded under regulatory protections Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a return on your GBP, USD and EUR balance with Wise Interest**

Sign up with Wise today 💰

**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

Wise Interest isn’t currently available to use with an Australia address.

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Sources used:

1. Barclays - Daily payments limits in the app
2. HSBC - Global View and Global Transfers
3. Wise - Guide to AUD transfers

Sources last checked on date: 20-Feb-2025