How long does an international wire transfer take? (2024)

Generally, if you request a transfer before your bank's cut off date, an international wire transfer typically should arrive within 1-5 business days. In some cases, receiving an international wire transfer can take longer, but more on that later.

To send and receive money quicker internationally, Wise can be a great option. Our mission is to build instant transfers for everyone, everywhere – and you can also save as you'll get the mid-market rate and only pay a small and transparent fee.

📝 In this article you’ll find covered:
  • How long international wires take along with popular banks and their cutoff times
  • How long does it take to receive money from overseas?
  • Why is my wire transfer taking so long?
  • How long does an international wire transfer take? (2)

    How long does it take to make an international wire transfer? Is there an average time?

    A wire transfer is usually not instant, however, as long as you make your transfer request on a business day before your bank’s cut off time, it should be processed same day.

    Otherwise, it will likely be processed the following business day. Funds for the transfer and any transfer fees are usually deducted from your account at the time the wire transfer is processed.

    But just because your bank processes an international wire on that business day doesn’t mean it will arrive to your international recipient’s bank account that same day.

    Many sites quote that an international wire should normally arrive within 1-5 business days. But there are many factors that can add time to your transfer. More on those factors later.

    So, how long it will take the bank to process and send out your transfer again depends on the bank and its specific policies, as bank wire transfers will only be processed on business days if they are requested before the bank’s cut off time.

    Those cut off times will vary but, below, you can find the international wire cutoff times for some of the most popular US banks.

    BankInternational wire cutoff times
    Bank of America5 PM Eastern Time (EST)
    Chase Bank4 PM Eastern Time (EST)
    Bank of America5 PM Eastern Time (EST)
    Citibank US5:15 PM Eastern Time (EST)
    Goldman Sachs4 PM Eastern Time (EST)
    US Bank4 PM Eastern Time (EST)
    Wells Fargo5 PM Eastern Time (EST)
    💡 Wondering if you can track your wire transfer? Find out everything about this here: How to track an international wire transfer.

    How long does an international wire transfer take? (3)

    How long does an international wire take with Wise?

    Wise transfers work a bit different from normal banks. Its smart new technology connects local bank accounts all over the world, which nearly always translates to lower costs and instant money transfers.

    Right now, 45% of our transfers are instant, and our mission is to build instant money transfers for everyone, everywhere.

    Plus, with Wise, you can save compared to banks and other money service providers –there are no markups, hidden fees, intermediary banks involved.

    You can find your money’s estimated arrival time when you go to the Wise home page and put in:

    • Your sending amount and currency
    • The method by which you’ll pay for your transfer (this makes a difference in how fast it arrives)
    • The currency you want your recipient to receive

    It takes just minutes to open a free account. Why not just start today?

    Save time and money with Wise ⚡️

    What information do you need to send a wire transfer?

    Before making your transfer request, make sure to gather some necessary information. While this will vary from bank to bank, in general, you should expect to need to know:

    • The name and address of the recipient’s bank
    • The recipient’s account number or IBAN (International Bank Account Number)
    • The BIC/SWIFT code of the recipient’s bank
    • The amount of the transfer and the currency the recipient will receive
    • The reason for the transfer
    • Who will be paying the fees (you can generally choose to pay them all yourself, split with the recipient, or have the recipient cover them)

    How long does it take to receive money from overseas?

    Funny enough, it’s the receiving end of an international wire transfer that can often take the most time. In our increasingly digital world, most banking transactions take place online, so you’d think a wire transfer could be done instantly, right? Not quite.

    But why can't international wire transfers be instant?

    So banks can do their part to prevent fraud.

    🔔 Can international bank transfers take longer than 5 working days?
    If there was a fraudulent transfer, there’s little hope that the funds can be recovered once a transfer is completed. That’s why wire transfers – both domestic and international – are done in a series of steps that are often purposefully slowed down. And that’s why, in part, once you send an international wire transfer, it can take up to 5 business days, or in some cases even longer, for the funds to be available in the recipient’s account.

    Once an international wire transfer is initiated, funds are deducted from the sender’s account. Instructions or the transfer are then normally moved through the SWIFT network, passing through even up to 3 intermediary or correspondent banks before finally landing at the final destination.

    Once the funds arrive at the recipient’s bank, there can still be processing time on that end of the transfer that holds things up. Which means it can take even longer for the transfer amount to actually appear as usable funds in the recipient’s bank account – even if the money’s already there.

    And that’s for an international wire transfer in which everything goes smoothly. There are many other factors that can slow a transfer.

    How long does an international wire transfer take? (4)

    Why is my wire transfer taking so long?

    There are a number of factors that could delay an international wire transfer. Some of them are outside of your control, but others can be mitigated with careful planning.

    Recipient detail errors

    One of the most common issues that slow a transfer down is actually one that could be well within your control. And that’s making sure that your beneficiary’s bank details are correct.

    If you’re sending money internationally through your bank, make sure the information you provide is accurate. Including any intermediary banks, SWIFT/BIC codes, account numbers, names of your recipient and their bank, and any additional payment instructions necessary. Any errors in the information provided could result in a delayed or lost transfer – a hassle nobody wants to deal with.

    If you’re sending money through Wise, for example, you’d generally need local bank account details rather than international ones. So making sure you’ve got the right set of information will go a long way to ensuring your money gets there fast.

    Bank holidays

    In order to make sure your international wire transfer arrives at its destination as quickly as possible, you’ll want to be aware of bank holidays both in your country and in the recipient’s country. Banks may be open in your country, but the recipient’s country may have different bank holidays.

    Some countries shut down banking systems for major holidays, a week at a time. Which means, depending on when you send the money, there could be no open bank to process the transfer on the receiving end. Careful planning can help avoid this kind of a situation.

    Weekends

    Similarly, weekends could delay your transfer. Though banks are closed in the US on Saturday and Sunday, the weekend isn’t the same all over the world. For example, in many Middle Eastern countries like the UAE or Egypt, the weekend falls on Friday and Saturday. Which means you’ll want to make sure you plan your transfer so you’re sending it on a business day.

    And, if possible, request your transfer at the beginning of the work week, so it has time to arrive and be processed in the recipient’s country before the weekend hits and holds the process up.

    Currencies involved

    If the wire transfer needs to be received in a different currency than the one you’re sending it in, it’s possible this can hold up processing times. Unfortunately, there’s not much you can do about this, unless your bank will allow you to send the transfer in the recipient’s home currency. Or you use an alternative service like Wise where the conversion can often happen instantaneously.

    If you need to pay suppliers or employees abroad, a late transfer can impact your business. Wise Business is here to help. You can send money in multiple currencies with ease, and transfers can arrive in less than 20 seconds.

    Discover the difference betweenWise Business vs Personal

    Timezones

    Midday in the US is the evening for Europe. Or, on the flip side, the prime of the business day in much of Asia is when the US is sleeping. Which means that you may need to do some fancy calculations to time your transfer right. Even if your business day is open in America, that doesn’t mean India’s banking system is awake and working.

    How you pay for your transfer

    Generally, if you’re sending money through your bank, then payment for a wire transfer is simply deducted automatically from the account from which the transfer funds are withdrawn.

    However, many banks and services like Wise, give you other options to pay. For example, a transfer paid for via debit card will be faster than a bank debit (ACH) or even domestic wire transfer on Wise.

    Join Wise for fast transfers 🏆

    The bank or company facilitating the transfer

    Some banks and transfer services are just faster than others. There’s not much you can do to change this, but before committing to a service, look for an estimate for how long your transfer will take.

    If you’re in a rush to get your money to its destination, you might be able to shop around for a faster service. If you aren’t satisfied with your bank’s transfer times, consider an online money transfer service like Wise. Wise may be able to transfer your money faster, and without many of the fees that typically come with a traditional bank transfer. Right now, 45% of our transfers are instant money transfers.

    The number of intermediary / correspondent banks

    Your bank may have a direct line of communication with your recipient’s bank. If that’s the case, you’re in luck. If that’s not the case, though, depending on your bank and your recipient’s bank, it could take up to 3 intermediary banks to help your money along its way. And that takes time.

    The destination country

    Some countries have slower banking infrastructures than others, which means it can take time for banks to communicate with one another and send money to its final destination. Other countries may have steeper regulations that cause payments to go through rigorous fraud prevention methods that may slow them down further.

    Anti-money laundering and fraud regulations

    In an effort to fight global terrorism and fraud, banks and financial institutions have to follow strict regulations and laws set out by local and international governing bodies. Which means that, despite both you and your bank’s best efforts, there may be times when some payments may need to go through a few extra checks. Unfortunately, if that happens, there’s often little to no information that institutions can legally provide you during that process. Which not only causes confusion and frustration on the customer part, but can significantly slow down speed.

    No matter your reason for making an international wire transfer, waiting and wondering when the money will arrive can be one of the most nerve-wracking parts. Hopefully, this guide gave you a better idea of what to expect and, more importantly, showed you what you can do to ensure your wire makes it to its destination in a timely fashion.

    *Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

    This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

    We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

    How long does an international wire transfer take? (2024)

    FAQs

    How long does an international wire transfer take? ›

    Average international wire transfer times

    How long does it take for an international wire transfer to go through? ›

    International wire transfer: An international wire transfer between a US bank account and an account in another country (also known as a remittance transfer) takes approximately one to five business days, depending on differences in time zones, foreign currencies, and banking systems.

    Why is my international wire taking 3 weeks? ›

    One of the main reasons for delays to international wire transfers are the fraud prevention processes and procedures put in place by banks. The SWIFT network requires transfers to pass through up to three correspondent banks before arriving at their destination.

    Why do international wires take longer? ›

    Unlike domestic wire transfers, which can reach the recipient's account in a few hours, international bank wire transfers take longer to process. This is due to more checks, with both the domestic Automated Clearing House (ACH) and its foreign equivalent needing to clear the transfer.

    How do I know if my international transfer was successful? ›

    To find out if an international wire you sent was received, you have a few options:
    1. You can contact the recipient and ask directly.
    2. You can request a trace on the transfer, and your bank will be able to tell you whether the money has been deposited into the recipient's account².

    Are international wire transfers immediate? ›

    Most domestic transfers are processed on the same day, and international transfers are typically completed within a few days (depends on country).

    What is the IRS limit for international wire transfers? ›

    International money transfer limit: IRS

    The IRS doesn't place limits on the amounts of money being sent, but there are reporting requirements for payments valued at 10,000 USD or more — or individual payments made within a short period which in total add up to over 10,000 USD.

    What are the disadvantages of international wire transfer? ›

    Cost Concerns

    In addition to security concerns, wire transfers can prove costly. Payers are often charged wire fees, which may be sizable and discourage them from making the payment. Institutions could also receive short amounts as a result of additional bank charges.

    How long do international SWIFT transfers take? ›

    How long does a SWIFT transfer take? SWIFT money transfers are by no means instant. It can take around one to four working days for your funds to reach the destination bank account, with the length of time varying based on the destination country, variations in time zones and differing banking processes.

    What is the fastest way to wire money internationally? ›

    Traditional banks and international money remittances often take several working days. Wise is often much faster: a lot of transfers are completed within 1 business day. Many of our transfers are even instant.

    Is there a way to track international wire transfer? ›

    Utilise SWIFT tracking: SWIFT, the Society for Worldwide Interbank Financial Telecommunication, is a network used by banks to facilitate international transfers. Some banks allow customers to track wire transfers using the SWIFT code or reference number associated with the transaction.

    How many days to receive money from international money transfer? ›

    While domestic wire transfers can be completed within one business day, international transfers typically take one to five business days, and they can take longer depending on a variety of factors. In rare cases, a perfectly executed transfer can reach the recipient within a single business day.

    What is the timeline for international transfer? ›

    Transfer money internationally to friends and family easily using Online Banking or Mobile Banking. Your money will reach your recipient within 2 to 3 working days, depending on the recipient bank's processes and working hours.

    How long does it take for international bank transfer to go through? ›

    Once the transfer has been processed, the funds will usually be deducted from the sender's account. However, this doesn't necessarily mean that it will arrive with the recipient at the same time. As stated above, international bank transfers will generally arrive within one to five working days.

    How long does it take to receive an international wire transfer in Security bank? ›

    Within 3 banking days but will also depend on the destination or country of the beneficiary.

    Why would a wire transfer not go through? ›

    Knowing how wire transfers work, now it's time to look into the reasons your bank may reject a wire transfer. If the account is opened in another currency. If the bank account is unavailable/closed or cannot receive payments. Because of the bank's internal policies.

    Top Articles
    Trading the 1-2-3 Reversal Pattern Setup - Forex Training Group
    What Does Ecpm Mean and How to Calculate it? - SmartyAds
    Fiskars X27 Kloofbijl - 92 cm | bol
    Fort Morgan Hometown Takeover Map
    How To Fix Epson Printer Error Code 0x9e
    55Th And Kedzie Elite Staffing
    Joliet Patch Arrests Today
    Google Sites Classroom 6X
    Sprague Brook Park Camping Reservations
    Jefferson County Ky Pva
    Jesus Revolution Showtimes Near Chisholm Trail 8
    Nieuwe en jong gebruikte campers
    3656 Curlew St
    Simple Steamed Purple Sweet Potatoes
    Hope Swinimer Net Worth
    1Win - инновационное онлайн-казино и букмекерская контора
    Assets | HIVO Support
    Regal Stone Pokemon Gaia
    Chris Hipkins Fue Juramentado Como El Nuevo Primer Ministro De...
    Jvid Rina Sauce
    Mbta Commuter Rail Lowell Line Schedule
    Destiny 2 Salvage Activity (How to Complete, Rewards & Mission)
    Spergo Net Worth 2022
    E22 Ultipro Desktop Version
    Talbots.dayforce.com
    Earl David Worden Military Service
    The Weather Channel Local Weather Forecast
    Ice Dodo Unblocked 76
    Uncovering The Mystery Behind Crazyjamjam Fanfix Leaked
    Wics News Springfield Il
    Ihub Fnma Message Board
    Move Relearner Infinite Fusion
    Sessional Dates U Of T
    Kristy Ann Spillane
    Obsidian Guard's Skullsplitter
    Renfield Showtimes Near Marquee Cinemas - Wakefield 12
    Leland Nc Craigslist
    Supermarkt Amsterdam - Openingstijden, Folder met alle Aanbiedingen
    Hermann Memorial Urgent Care Near Me
    A Man Called Otto Showtimes Near Amc Muncie 12
    Autozone Locations Near Me
    Ukg Dimensions Urmc
    Craigslist Jobs Brownsville Tx
    Dogs Craiglist
    Anguilla Forum Tripadvisor
    60 X 60 Christmas Tablecloths
    511Pa
    Does Target Have Slime Lickers
    Big Reactors Best Coolant
    Deezy Jamaican Food
    Latest Posts
    Article information

    Author: Fr. Dewey Fisher

    Last Updated:

    Views: 6018

    Rating: 4.1 / 5 (62 voted)

    Reviews: 93% of readers found this page helpful

    Author information

    Name: Fr. Dewey Fisher

    Birthday: 1993-03-26

    Address: 917 Hyun Views, Rogahnmouth, KY 91013-8827

    Phone: +5938540192553

    Job: Administration Developer

    Hobby: Embroidery, Horseback riding, Juggling, Urban exploration, Skiing, Cycling, Handball

    Introduction: My name is Fr. Dewey Fisher, I am a powerful, open, faithful, combative, spotless, faithful, fair person who loves writing and wants to share my knowledge and understanding with you.