The time it takes to receive a transfer depends on the type of payment rail that was used to complete the transfer.
Understanding the processing times for financial transactions is crucial for planning and decision-making. This guide breaks down the typical durations for transfers using different payment methods and provides insights into potential delays.
If a transfers hasn't been received the issue might be with the receiving institution.
If you encounter unexpected delays beyond the stated timelines:
Verify the details of your transfer, including recipient information and payment rail used.
Contact your bank or financial service provider for updates.
For SWIFT transfers exceeding 10 business days, initiate a trace request through your financial institution.
As a reference, we’ve included a general guide for each type of transfer:
ACH - USD Transfers
rely on routing numbers and account numbers (not SWIFT codes or IBANs)
usually takes 1-2 business days
Factors that may delay processing include weekends, public holidays, or unexpected system issues.
SWIFT - International Wire Transfers
International payment system that uses SWIFT/BIC code
Usually takes between 2-10 business days, but can sometimes take longer.
Standard duration is 2-5 business days, but it can extend up to 10 business days due to intermediary bank processing times or verification checks.
SEPA (Single Euro Payments Area) - EUR transfers
cross-border payments within Europe, but only for transactions in euros and uses IBAN/BIC code
usually takes 1-2 business days
Processing times may be affected by bank holidays in participating SEPA countries.
Faster Payment System (FPS) - GBP transfers
UK-based system that allows for instant domestic payments in GBP, uses sort codes and account numbers
Usually takes a few minutes, but can take up to a few hours. However, delays may occur during high traffic periods or scheduled maintenance. Factors Influencing Delays While the timelines above provide a general expectation, the following factors might extend these durations:
Bank Holidays: Processing times may be affected when payments are initiated or scheduled during public holidays. This is particularly significant for ACH, SEPA, and SWIFT.
High Transaction Volume: During periods of high activity (e.g., end-of-month payroll or festive seasons), processing queues may lead to delays.
Intermediary Banks in SWIFT Transfers: Transfers that involve multiple banks might require additional checks, leading to extended processing times.