The lorry was stopped just outside Armagh on Wednesday night.
A police officer told Newry Court that Conor Toal, 30, from Oakridge in Armagh city, was spotted passing objects from his car to the lorry.
It was driven by Darren Donnelly, 32, from Willowmount Avenue in Omagh, County Tyrone.
A subsequent search of the lorry led to the discovery of the money.
The officer said he believed the cash was being transported to England, where it was to be used by a major crime gang to buy illegal drugs to bring back to Northern Ireland.
A later search of Mr Toal's home uncovered another £4,000 in cash and four luxury watches, including two made by Rolex.
Both men denied charges of possessing criminal property, transporting criminal property and entering into an arrangement.
The judge refused bail because he said he feared the pair could interfere with the police investigation, which is at an early stage.
They are due to appear again via videolink at Armagh Court on 13 September.

Although it was goalless at the break, the Villagers responded to four defeats in-a-row by taking the game to the hosts.
Thompson shot just wide from Taron Hare's cross, and Danny Clarke forced Sam Johnson into a good save.
It was no surprise when Thompson gave North Ferriby the advantage in the 49th minute. The deadline-day signing marked his first goal for the Grange Lane club by rounding the goalkeeper and slotting in from a tight angle.
Gus Mafuta's late strike almost levelled the scores, but North Ferriby held on for the win.
Report supplied by the Press Association.
Match ends, Gateshead 0, North Ferriby United 1.
Second Half ends, Gateshead 0, North Ferriby United 1.
Connor Oliver (North Ferriby United) is shown the yellow card for a bad foul.
Substitution, North Ferriby United. Ryan Fallowfield replaces Connor Robinson.
Mitch Brundle (Gateshead) is shown the yellow card.
Substitution, Gateshead. Adam Wrightson replaces James Bolton.
Substitution, North Ferriby United. Ryan Kendall replaces Reece Thompson.
Substitution, North Ferriby United. Danny Emerton replaces Jake Skelton.
Goal!  Gateshead 0, North Ferriby United 1. Reece Thompson (North Ferriby United).
Substitution, Gateshead. Gus Mafuta replaces Rhys Oates.
Substitution, Gateshead. Danny Johnson replaces Sam Jones.
Second Half begins Gateshead 0, North Ferriby United 0.
First Half ends, Gateshead 0, North Ferriby United 0.
Patrick McLaughlin (Gateshead) is shown the yellow card for a bad foul.
Sam Jones (Gateshead) is shown the yellow card for a bad foul.
First Half begins.
Lineups are announced and players are warming up.
Two men have been remanded in custody after being charged following the discovery of more than £400,000 in cash inside a lorry.
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Reece Thompson's second-half goal handed North Ferriby their first ever away win in the fifth tier as they beat struggling Gateshead.