The discovery was made after a lorry was stopped on the Portadown Road on Wednesday night.
More money and four high value watches were found after follow up searches at a house in the city.
The pair aged 30 and 32 will appear before Craigavon Magistrates court this morning.
£215,000 and €225,000, was found in holdall, and backpack in the lorry’s cab.
Another follow up search lead to the discovery of four high Value watches and other luxury items.
‘Much more to do’ to protect children in NI from sexual exploitation – report
Woman in critical condition after she's struck by car in Belfast
Man dies following road accident in County Fermanagh
Executive will ‘have to deal’ with compensation costs from PSNI data breach
Man remanded in custody charged in connection with mosque burning plot