How to transfer large sums of money between bank accounts (UK guide)

Need to make a large payment to another bank account in the UK or overseas? You might be putting a deposit down on a property purchase, buying a car or paying a bill for recent building work.

Whatever the reason, you’ll need to know the best ways of transferring large sums of money between bank accounts. In this guide, we’ll look at the fastest, cheapest and safest ways to do it.

Also, if you need a transparent and cost-effective way to transfer large sums internationally, the money services provider Wise can be a perfect fit. Over 14.8 million people worldwide use Wise to send, spend and convert money in 40+ currencies.

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 get dedicated support and volume discounts when sending large amounts.

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How to transfer large sums of money between bank accounts

To make a large amount transfer, you’ll firstly need to get all the required details together.

Here’s what you’re likely to need:

• The account name, number and sort code for the recipient
• Details of their bank, including SWIFT/BIC and IBAN (for international transfers)
• Your valid photo ID (usually required for CHAPS and other large amount transfers, where extra checks are required).
• The reason for the payment (if asked)
• The amount you want to send and currency
• A payment reference (optional - this is to tell the recipient what the payment is for).

If you’re sending money through BACS or Faster Payments (for payments within the UK), you can set up an online payment by logging into your bank’s internet banking service.

For CHAPS payments though, you may need to go into a branch with your ID and fill in a form.

Online transfers with a money transfer company require you to provide all of the details above. You may also be asked to verify your ID by uploading a photo of your passport or driving licence, along with a selfie photo/video to match it against.

If you’re sending a large amount overseas, you may be asked for further information or documents as part of compliance with international transfer laws and anti-money laundering regulations.

What’s the maximum amount you can transfer to another bank account?

The upper limit for how much you can send with Faster Payments or BACS in the UK varies depending on the bank or provider.

Here are just a few examples to give you some ballpark figures:

In some cases - such as when sending payments with Revolut, for example - the transfer limit is personal to you and your account.⁷ You can check this limit in the Revolut app or when you set up a payment, or contact the provider directly.

CHAPS payments are designed for payments over £100,000, and there’s usually no upper limit. You can only send this kind of payment through a bank.

Banks and money transfer providers may also have separate limits for international transfers. Some banks may be better than others for sending money abroad - find out more here.

What’s the best way to transfer large amounts of money between bank accounts?

If you’re sending money within the UK, one of the best ways to securely send a large sum is to make a bank transfer. You should be able to set this up with online or mobile banking, although you can also make use of branch or telephone banking if available.

An important thing to bear in mind though is that some banks have maximum transfer limits. This is a cap on the amount of money you can send at once, and/or per day.

If the amount you’re sending is under this limit, you should be able to use the BACS or Faster Payments service to make the transfer.

If it’s above the limit, you’ll need to send a CHAPS payment. This can’t always be set up online, so you may need to visit a branch. Most banks also charge a fee of around £25 to £30 for CHAPS payments.⁸

Another option, especially when making overseas transfers, is to use a money services provider. There are lots of them to choose from, including Wise, Western Union, Remitly, WorldRemit, MoneyGram, and more.

This option gives you convenience and speed. It’s really easy to set up and send a payment, you’ll usually see all fees and exchange rates up front (depending on the provider), and payments are typically very fast.

Looking for a secure, transparent and low-cost way to convert or send large amounts of money? 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 convert money or set up large amount transfers worldwide in 40+ currencies for low, transparent fees and the mid-market exchange rates with no markup.

✅ Sign up with Wise for free

**Investments in funds are never guaranteed and your capital can be 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.

What’s the quickest way to transfer a large amount of money?

As the name would suggest, Faster Payments bank transfers tend to be the quickest - if your payment is under the maximum sending limit. These are only available for UK payments.

For other large UK payments, you’ll need to use CHAPS. While there is a fee to pay, the great thing about CHAPS is that payments tend to be processed and completed the same day (depending on whether you initiate the payment before the daily cut-off time).

International transfers tend to be slower, but it depends on the provider, payment type, destination, currency and other factors.

Here’s a rough guide to how long each type of payment takes:

Is it safe to transfer large amounts of money online?

It is safe to send large transfers online, but only if you take the right precautions. This means either using your bank, or a trusted and secure money transfer service.

Make sure to do some research on the providers to determine they’re trustworthy and legitimate.

You should also check out the provider’s security features and policies. Ideally, you want one which offers advanced security features like data encryption and 2-factor authentication to protect account access (here’s how Wise keeps your money and transactions secure).

You should also make sure you check the details of the account you’re sending to very carefully.

And although it can sometimes be difficult to spot a scam, be very vigilant. Never feel pressured to make or rush a payment, and be extra cautious about sending money to people you don’t know. If it seems too good to be true, it probably is.

Key takeaways

• Most UK banks cap daily online transfers between £10,000 and £100,000, and while domestic transfers are often free, CHAPS payments (for more than £100,000) typically incur a fee of £25 to £30
• Use Faster Payments for quick UK transfers under your bank's limit, or opt for CHAPS for larger, same-day domestic payments that often have no upper limit
• To avoid delays, ensure you have the recipient's full name, account number, and sort code, plus the IBAN and SWIFT/BIC codes for international transfers
• For very large or international transfers, you may need to provide valid photo ID in a bank branch or upload documents to a money transfer provider to comply with anti-money laundering regulations
• Only use trusted providers with documented security measures and always double-check recipient details to protect yourself against fraud and common payment scams.

Sources used:

Sources last checked on date: 17-Dec-2025