We watched Ozark and here's why international transfer limits exist - The Lemonade Stand

International transfer limits are those pesky things we all have to deal with; here’s why they matter and how they keep you safe.

Why do international transfer limits exist?

If you watch the Netflix hit series, Ozark, here’s the first thing you’ll learn: you can’t wire $8 million, or any large amount of money, overseas in one go. It’s almost impossible, and if you could do it, it would be illegal. The ‘why’ is simple: there are limits on how much money you can send overseas at once. These international transfer limits exist to prevent money laundering and terrorist financing.

Ozark Netflix Show
The Netflix show, Ozark

We love Ozark as much as the next person—but if we don’t enforce limits on international transfers of cash, we could be enabling money laundering. It’s not that we think you would ever actually be part of a drug cartel—we believe in you and your ability to make smart choices.  But if we didn’t have these limits in place, it would be super easy for criminals to move money. We don’t want to help criminals do their jobs. Instead, we want to help people like you accomplish what they need without having to worry.

Why do international transfer limits exist?

Ever wondered why you can’t just wire your life savings to the Cayman Islands like the Byrdes do in Ozark? Well, it turns out that transferring large amounts of money is a bit more complicated than it seems. In most cases, banks and money transfer services often have limits, which can vary depending on the nature of the transfer. Your bank may limit you to transferring $5,000 per day — or may have no limits at all.

Transaction Limit
Our new transfer limits for U.K and Canada

Lemonade’s previous transfer limit were $2000 (CAD) daily and £1000 daily for Canada and U.K respectively. We have recently increased limits to both countries.

See also: How Lemonade Finance works

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