Times to send, receive, or transfer money - United States (2024)

FAQs

Times to send, receive, or transfer money - United States? ›

Where you're sending or receiving funds. Domestic wire transfer: Due to EFAA regulations, most bank-to-bank wire transfers between accounts in the US are completed within 24 hours. Some banks make wired funds available to recipients immediately, especially on transfers between accounts at the same institution.

You should find out when your bank's cut-off time is for wire transfers to ensure your transfer arrives on time. The cut-off time is usually 5 pm, but it can vary between banks. Banks will process requests made after this time the following business day.

5:00 p.m. ET for same-business-day (wire) transfer. Funds will be received by the recipient's bank on the same business day. 5:00 p.m. ET for international wire transfer.

Your specific bank transfer time will vary depending on a range of factors, including fraud prevention, different currencies, different time zones, and bank holidays/weekends. In general, the bank transfer time will be around one to five working days.

If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes. If you're sending money to another country, however, it may take as many as five days for the recipient to receive their funds.

If you make a transfer before 6pm (AEST/AEDT) on a business day, the payee will usually get the funds the following business day. If it's after 6pm (AEST/AEDT) or on a weekend or public holiday they'll get the funds within two business days.

Most transactions post at the end of each business day but posting order and times can vary. Business days for banks are generally Monday - Friday from 9am to 5pm, excluding federal holidays. Transactions received outside of these hours, including on weekends, are usually posted on the next business day.

Where you're sending or receiving funds. Domestic wire transfer: Due to EFAA regulations, most bank-to-bank wire transfers between accounts in the US are completed within 24 hours. Some banks make wired funds available to recipients immediately, especially on transfers between accounts at the same institution.

While most banks will process funds within 24 hours, it could be a day or two before they arrive in the recipient's account. Most banks will advise 24 to 72 hours before funds land and are available.

If the bank initiated the transfer, notify the bank immediately so that it can investigate your claim. If you first contact the bank by phone, it is a good practice to follow up in writing. If you wired the funds through a third party (e.g., Western Union), contact that party to find out what their procedures are.

What is the time for transaction transfer? ›

How long it takes for a check to clear. Usually, it takes about two business days for a check to clear. That can vary from check to check, though. It's important to review your financial institution's deposit agreement, which will specify how long they typically hold checks for.

Usually, you'll have access to your direct deposit at the opening of business on your payday — by 9 a.m. In many cases, direct deposits hit accounts even earlier, often between midnight and 6 a.m. on payday morning. But there are factors that can affect how long it takes your direct deposit to become available.

The Time of Wire Transfer

Along with that, the wire transfer cut-off times also impact processing times. Let's say the cut-off time of your bank is 5 pm for same-day transfers. So, if you initiate a transfer after 5 pm, your bank will process it on the following business day.

Account-to-account transfers

Transfers between your U.S. Bank accounts post immediately.

In most cases, the funds are received the same day they are sent. Once a wire transfer is sent, the funds leave the bank immediately and cannot be returned.

What time of day does direct deposit hit? Usually, you'll have access to your direct deposit at the opening of business on your payday — by 9 a.m. In many cases, direct deposits hit accounts even earlier, often between midnight and 6 a.m. on payday morning.

Single payments to other banks are sent every hour between 9am and midnight every day.

While NEFT is available 24×7, the time taken for funds to be credited to the beneficiary's account can vary. It may take anywhere from 30 minutes to up to 2 hours for the transfer to be completed.