How long does a wire transfer take?

Bank wire transfers have been around for more than a century, and although they’ve gotten faster, they still typically aren’t instant. Several factors come into play when transferring money through your bank. Understanding why transfers take time and what alternatives are available can help you avoid delays.

How long does a wire transfer take?

At best, expect the following transfer times for domestic and international transfers.

• Domestic wire transfer speed – Within 24 hours is possible, particularly for transfers between accounts at the same bank.
• International wire transfer speed – Between two and five business days, perhaps longer depending on various factors like payment method and delivery destination.

What impacts wire transfer speed?

When you send a wire transfer through your bank, you should be provided with an expected delivery date, though this isn’t a guarantee of any sort. Wire transfer time varies based on many factors, some that are in your control and some that aren’t:

• Your bank – Smaller banks may take longer for international transfers, as they may not have an International Bank Account Number (IBAN).
• Receiving bank – If you’re sending a wire transfer to a bank other than your own, the banks have to communicate which can take time.
• Time of transfer – Sending transfers earlier in the day is better. If you send it at the end of the day, it has to wait until the next business day to start processing. The same goes for the end of the week, or right before a bank holiday.
• Type of transfer – Some banks offer expedited wire transfer services, but beware of high fees added to your transfer total.

Who is most likely to be researching how long a wire transfer takes?

Finder data suggests that men aged 35-44 are most likely to be researching this topic.

How to have wire transfer funds available immediately

When you are in a rush, or you just don’t feel like waiting, there are ways to expedite the speed at which your money is transferred. By default, almost no wire transferred funds are available immediately, so use these alternatives to get your money faster.

Bottom line

Using your bank to send money domestically and internationally is hardly ever the cheapest or fastest option. To learn more about how to send money more efficiently, read our dedicated guide with hand-picked options that cover international transfers.

Frequently asked questions

• How long does it take to transfer funds from one bank to another?

  It depends on how quickly the banks communicate with one another. Theoretically, the transfer could happen in the same business day, but more often than not it takes two or more business days.

• How long does a wire transfer take at Chase?

  Chase domestic wire transfers typically arrive within 1-2 business days, while Chase international wire transfers can take upwards of 4 business days to arrive in a foreign bank account.

• How long does a transfer take at Wells Fargo?

  Wells Fargo offers an ExpressSend option to expedite your money transfer, but it’s only available for select destinations. Standard Wells Fargo domestic transfers typically take less than two business days, while international wire transfers can take five business days or more.

• How long can a bank hold a wire transfer?

  Banks do not hold wire transfers. Unlike checks that need verification to clear, the moment an incoming wire transfer hits your bank account, it’s yours.

Written by

Zak Killermann

Publisher

Zak Killermann was a technical publisher at Finder who specialized in currencies and investing. Zak’s expertise was in breaking down technical finance concepts into approachable, digestible nuggets of information. See full bio