Wire transfer times vary depending on whether the transfer is domestic or international:
- Domestic wire transfers within the same country typically complete within 24 hours, often on the same business day if initiated before the bank’s cut-off time. Some transfers may take up to 1-2 business days depending on bank procedures and timing
. Transfers between accounts at the same financial institution can sometimes happen in less than 24 hours, even minutes in some cases
- International wire transfers generally take longer, usually between 1 to 5 business days. The exact timing depends on factors such as the countries involved, currency conversions, banking systems, time zones, and whether intermediary banks are used. Transfers can be delayed by compliance checks, incorrect details, or transfers initiated outside business hours. Some banks offer same-day or expedited international transfers for a fee, but these are limited to certain currencies and require early initiation during business hours
- Weekends, public holidays, and bank cut-off times also affect processing times. Transfers initiated after cut-off times are processed the next business day, potentially adding to the delay
In summary:
Transfer Type| Typical Timeframe| Notes
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Domestic Wire| Same day to 1-2 business days| Faster if within same bank;
depends on cut-off time
International Wire| 1 to 5 business days| Can be longer due to currency,
compliance, intermediaries
If a domestic wire transfer takes longer than 1-3 business days, or an international transfer exceeds 5 business days, it is advisable to contact the sending bank to verify the status
