How to transfer large amounts of money internationally

Sending a large amount of money overseas isn’t difficult, but it does require careful consideration. You want to make sure your transfer is swift, straightforward and secure, while also getting a great exchange rate and navigating currency volatility.

In this article, we’ll evaluate the different methods available to help you choose the best way to send large sums of money internationally, walk you through the process step by step, and give you tips on getting the best rate for your transfer.

If you’re looking for a general overview of sending large sums overseas, visit our large transfers page.

Best ways to transfer large sums overseas

Quick answer

The best way to transfer a large amount internationally is to use an FCA-regulated money transfer specialist. They tend to offer more competitive exchange rates and lower fees than most banks, provide personal guidance for high-value transfers, and help you navigate compliance checks.

At a glance: Methods for transferring large sums overseas

Methods for transferring large amounts internationally

Money transfer specialists

Money transfer specialists such as Currencies Direct and TorFX usually offer stronger exchange rates and a more personalised service than banks, often allowing you to achieve a better rate on your transfer.

They may also provide different transfer tools – such as limit orders, which let you target a particular exchange rate – and can offer expert guidance on the best way to transfer your money.

Money transfer specialists are regulated financial institutions, and may be licensed either as an Electronic Money Institution (EMI) or a Money Services Business (MSB) in the UK.

While both must follow anti-money laundering rules and are regulated by the Financial Conduct Authority (FCA) or HMRC, EMIs generally offer a broader range of digital services.

Bank transfers

Bank wire transfers are a popular way to send large amounts overseas securely, but they may not be the best option.

While secure, overseas wire transfers tend to be relatively slow and expensive. Banks often have a limited range of options for international transfers, offer uncompetitive exchange rates, and may charge additional fees for receiving or processing large amounts of money.

Multi-currency accounts

Multi-currency accounts are another good option. They let you hold, send and receive multiple currencies from a single secure account, making them ideal for frequent international transfers or managing money across borders.

They help you avoid repeated conversion fees and give you the flexibility to convert when rates are more favourable. This adds convenience and control, especially if you're regularly sending large sums or handling payments in different regions.

Online platforms

Online platforms such as PayPal and Skrill allow users to send money abroad, but they’re not typically designed for large international transfers. They often charge percentage-based fees and apply less competitive exchange rates, making them more suitable for smaller or casual payments.

Step-by-step guide to sending large amounts of money abroad

Transferring a large sum internationally isn’t complicated, but knowing the process and being prepared can help you avoid annoying snags and unnecessary delays. From verifying your identity to choosing the right transfer method, here’s a simple step-by-step breakdown.

1. Choose a trusted provider

Pick a reputable, FCA-regulated provider with experience handling large international transfers. Also check their transfer limits and supported currencies.

2. Get verified

You'll need to complete identity and compliance checks, especially for high-value transfers. This may include providing photo ID, proof of address, and source-of-funds documentation.

3. Speak to an account manager

For larger transfers, some specialist providers will connect you with a dedicated account manager. They'll walk you through your options, explain current market conditions, and help you decide the best time and method to transfer.

4. Book your transfer

Once you’ve confirmed the details with your account manager, you can lock in the exchange rate and confirm the payment. Make sure all recipient information is accurate before proceeding.

5. Send your funds

Transfer your money to the provider’s account. Ensure the payment reference matches what they’ve instructed, and keep proof of payment if needed.

6. Track and confirm

Use any tracking tools provided to follow the status of your transfer. Let your recipient know once the money arrives, and keep confirmation for your records.

How to get the best exchange rate on a large international transfer

When sending large amounts of money overseas, getting a good deal is crucial as a seemingly small change in exchange rates can amount to a significant difference.

For example, on a £500,000 GBP to EUR transfer, a shift of just two cents in the exchange rate could mean receiving €10,000 less.

Here’s how to maximise value and reduce risk:

1. Seek expert guidance. Some specialist providers offer personal support or account managers who can help you plan your transfer, explain your options, and avoid unnecessary costs.

2. Time your transfer. Exchange rates move constantly. If your transfer isn’t urgent, consider watching the market or setting rate alerts to wait for a more favourable moment.

3. Use specialist tools. Features like limit orders and forward contracts let you lock in a target rate or secure today’s rate for a future transfer, giving you more control and protection against market swings.

For more tips and a deeper dive into maximising your currency transfers, be sure to check out our article on how to get the best exchange rates.

How long do large international transfers take?

The full process can take from one working day to up to a week, depending on the provider, currency, and how prepared you are.

Opening your account and verifying your identity can take up to three days, although delays can happen if documents are missing or unclear.

It’s also worth noting that large transfers can require more stringent security checks. This is a good thing – it means your provider is being meticulous with handling your money – but can sometimes lead to delays.

For this reason, it’s best to open and verify your account in advance.

Once you have an account, large transfers in major currencies will usually take up to two days. Exotic currencies or less common routes may take longer.

Transfer limits and legal considerations

Specialist providers don’t typically set limits on how much you can transfer, but your bank may impose daily limits on outbound payments. It’s important to check this in advance and speak to your bank if you need to raise the limit, especially if timing is critical.

For large international transfers, you'll also need to provide documents verifying your identity and the source of funds (such as a property sale agreement or inheritance letter). These checks are legally required to prevent money laundering and must be completed before your transfer can go ahead.

You should also be aware of any reporting obligations or tax rules in the country you're sending money to, particularly for gifts, inheritances, or business payments. If you're unsure, it's worth getting advice from a tax or legal professional.

Quick guide: When to use forward contracts, limit orders, or multi-currency accounts

Forward contract – Fixed-date, high-value payments abroad

Lock in today’s rate for a future transfer (e.g. property purchase, tuition, settlement). Forward contracts protect you if rates move against you, but you won’t benefit if they improve. Best for certainty when deadlines are tight.

Limit order – Flexible transfers with timing leeway

Set a target exchange rate for your transfer (e.g. inheritance or investments). The transfer only goes ahead if the market hits your level. Limit orders are useful when timing is flexible, but note your order may never trigger.

Multi-currency account – Ongoing large expenses or income abroad

Hold, send, and receive multiple currencies from one account (e.g. paying staff, covering living costs, collecting foreign revenue). This helps you avoid repeated conversion fees and choose when to exchange.

Why you might make a large transfer – and how that could change your approach

Not all large transfers are alike. The reason you're sending money can affect how quickly you need to act, what risks you face, and which tools or strategies might be most useful.

Here are a few common examples:

Property purchase

Buying property abroad usually means tight deadlines and fixed budgets. You often need to transfer a specific amount for a specific date, which makes forward contracts or early planning essential to ensure you get the right amount of money at the right time.

Inheritance

If you're receiving or sending inherited funds, there's often more flexibility on timing. That can give you the opportunity to wait for a stronger exchange rate.

Investment or business funding

With these types of transfer, your priority may be to mitigate risk. Tools like rate alerts, forward contracts and limit orders can help you protect against FX volatility, especially when paired with expert guidance and market insights.

Emigration or relocation

Large transfers related to relocation can vary depending on your circumstances. Some people may be able to wait for a stronger rate, while others might need to move funds fast. In some cases, it makes sense to transfer part of the money now and hold the rest until conditions improve.

An account manager can help you plan and structure your transfers based on your timeline and priorities.

Tuition or legal settlement

These tend to have firm due dates and fixed amounts. The focus here is often reliability, speed, and transparency – especially when transferring to institutions or law firms.

Thinking about making a large transfer?

If you're planning a large international transfer, the best next step is to speak to a currency expert. With Currencies Direct, you'll get award-winning service, access to specialist tools like forward contracts, and guidance tailored to your timeline and goals.

Get in touch with the team to find out more about how we can help you, or open a free account online.

FAQs: How to transfer large sums of money internationally

What’s the first step when sending a large amount overseas?

Start by choosing a reputable, regulated provider that specialises in large international transfers. You’ll likely need to create an account, provide identification, and verify the source of funds before initiating your transfer.

What documents do I need for a high-value transfer?

Most providers will require:

• A valid photo ID (passport or driver’s licence)

• Proof of address (utility bill, bank statement)

• Evidence of the source of funds (e.g. sale agreement, inheritance letter, investment statement)

• Having these ready in advance can help avoid delays.

How do I know if I’m getting a good exchange rate?

Check the rate offered against the interbank rate. A small margin is normal, but significant gaps may signal poor value. Some providers offer tools like rate alerts or live quotes to help you time your transfer more effectively, which can often be more valuable than chasing the best rate on the day.

Can I lock in an exchange rate before sending the money?

Yes, you can use a forward contract to lock in today’s rate for a future transfer, or a limit order to target a specific rate. These tools are especially useful when transferring large sums, where small rate changes can make a big financial difference.

How long does the transfer process typically take?

It depends on the provider, currency, and destination country.

• With a specialist: often same day or 1-2 working days

• With a bank: typically 3-5 working days

Delays can occur due to compliance checks or incorrect recipient details, so make sure all information is accurate and that you’ve verified your identity ahead of making a transfer.

What can I do to reduce risk or avoid mistakes?

Double-check recipient information, use secure platforms, and save all correspondence and confirmations. If available, work with a provider who offers personal support or account managers to guide you through the process. You can also read our article on how to safely and securely send large sums overseas, or visit our security and fraud page for more information on protecting yourself from scams.

Can I send a large transfer in stages instead of all at once?

Yes, you can transfer a large sum in multiple payments. This can help manage risk or meet regulatory thresholds, but it may cost more overall. Most providers offer better exchange rates for larger, single transfers.

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