International Transfer And Cash Limits

Some countries have special requirements for bank transfers and remittances which you should be aware of if you send money abroad. Money transfers services typically place their own limitations on international money transfers. For example, Western Union has a low general limit of 5,500 francs for transfers from Switzerland to other countries.

Many countries enforce limits or requirements for transporting cash across their borders. If you travel outside of Switzerland at all, it is important that you are aware of these limits, because failure to comply can result in confiscation of your money and possible criminal investigations. It is also important to understand how much money you can bring into Switzerland.

These are the limitations for transfers and carrying cash across borders without a customs declaration:

1. Brazil – BRL 10,000

The limit on cash which you can carry into or out of Brazil without a customs declaration is BRL 10,000 or its equivalent in foreign currency. Bank transfers to Brazil are not limited, but you must enter the purpose for payment and the recipient’s taxpayer identification code when ordering transfers. TransferWise lets you transfer up to BRL 100,000 per transfer. MoneyGram allows up to 2440 francs per transfer.

2. China - $5000 or CNY 20,000 cash

China allows you to carry foreign currency worth up $5000 or local currency worth up to CNY 20,000 into or out of the country without a customs declaration. Bank transfers to Chinese accounts are not limited, but must always include a PoP code which defined the purpose of the transfer. Bank transfers from China to Switzerland are limited to a combined maximum of USD 50,000 (or equivalent) per year for Chinese nationals. TransferWise lets you transfer up to the equivalent of USD 10,000 per day, max. USD 50,000 per year. MoneyGram allows a maximum of 9750 francs per transfer.

3. European Union – EUR 10,000 cash

If you carry more than 10,000 euros or the equivalent in foreign currency or cash equivalents into the European Union (EU), you must declare the money at customs. Failure to fill out a customs declaration will normally result in the confiscation of your money. Be ready to provide documentation about its source (copies of salary slips or bank receipts, for example). As from July 2020, the maximum SEPA transfer size is 100,000 euros (previously 15,000 euros). The SEPA limit applies to SEPA transfers from Switzerland to SEPA member countries. TransferWise allows up to 1.2 million euros per transfer. MoneyGram limits transfers to EU countries to 9750 francs.

4. Russia – no limits on incoming money

There are no limitations on bringing money into Russia, but currency leaving Russia must be declared if it matches or surpasses the equivalent of USD 3000. Bank transfers to Russia are only subject to special rules when the end currency is the Ruble. These rules require the inclusion of a VO code which identifies the purpose of the transfer, and a taxpayer identification code. TransferWise lets you send up to the equivalent of RUB 50 million to Russian bank accounts. MoneyGram allows up to 8760 francs per transfer.

5. South Africa – ZAR 25,000 or USD 10,000 cash

When you enter South Africa, you are required to declare local currency exceeding ZAR 25,000 and combined foreign currency exceeding the equivalent of USD 10,000. You cannot take more than ZAR 25,000 in rand out of South Africa. As a visitor, you can take up to 15 full Krugerrands out of South Africa, but must file a customs declaration and show that the currency used to purchase them originated abroad. There are no limitations on how much money you can send to South Africa via bank transfers, but a Balance of Payments (BoP) code is required for the transaction to clear. TransferWise lets you transfer up to the rand equivalent of GBP 1 million. MoneyGram lets you transfer up to 9750 francs.

6. Switzerland – No limits

There is no limit to the amount of cash which you can carry into or out of Switzerland and you are not obligated to declare your money when you enter or leave Switzerland. This applies to Swiss francs and foreign currency, as well as securities, gift cards, checks and other cash equivalents. However, Swiss customs officials have the right to ask you whether you are carrying the equivalent of 10,000 francs or more. If you are, you must provide information about yourself or the money’s owner and the source of the money. Swiss banks generally do not place limitations on international bank transfers to and from Swiss bank, but foreign limitations may apply depending on which country and currency you transfer to. Money transfer services place their own limitations.

7. Thailand – THB 450,000 or USD 15,000 cash

If you carry more than THB 450,000 or foreign currency equivalent to USD 15,000, you have to make a customs declaration. As long as you declare, there are no legal limits on the amount of foreign currency or Thai Baht which you can bring into Thailand – either in cash or as transfers. The limits for taking Thai Baht out of Thailand is THB 2 million if you go to a neighboring country and up to THB 50,000 is you go to any other country. These limits do not apply to foreign currency. Banks must report transfers into Thailand which exceed USD 50,000 via a Foreign Exchange Transaction (FET) form. TransferWise limits transfers to Thailand to THB 2 million. MoneyGram limits transfers to Thailand from Switzerland to 9750 francs.

8. United States – USD 10,000 cash

While there is no legal limit to how much money you can carry into or out of the US, declaring cash or cash equivalents in excess of USD 10,000 is compulsory. You must fill out a customs declaration form and you must be ready to provide documents proving the source of the money. While there are no legal limits on bank transfer sizes, US banks are required to report transactions exceeding USD 10,000 per day per sender or recipient. Many US banks have relatively low daily and monthly limits on transfers. TransferWise limits Switzerland-US transfers to USD 1 million (USD 15,000 for ACH transfers). MoneyGram limits transfers to the US to 9750 francs.

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