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In today’s global economy, international bank transfers are essential for businesses and individuals sending money across borders. Whether you’re paying international suppliers, transferring funds to overseas employees, or receiving payments from foreign clients, understanding how long international transfers take is crucial for planning cash flow and avoiding delays.
But exactly how long do international bank transfers take? The answer depends on various factors, including the banks involved, the transfer method, currency exchange processing, and regulatory checks.
This guide breaks down everything you need to know about international bank transfer times, factors that affect processing speed, and how businesses can manage global payments efficiently.
- What is an international bank transfer?
- How long do international bank transfers take?
- Factors that affect international bank transfer times
- When should you use an international bank transfer?
- Why do international transfers take longer than domestic payments?
- Things to look out for when making international transfers
- Ways to make international bank transfers faster
- How Budgetly helps businesses manage international transactions
- Final thoughts on international bank transfer times
What is an international bank transfer?
An international bank transfer (also known as a wire transfer or SWIFT payment) is a transaction where money is sent from one bank account to another in a different country. These transfers typically involve currency conversion and multiple financial institutions before reaching the recipient.
International transfers are commonly used for:
- Business transactions – Paying suppliers, contractors, or service providers overseas.
- Payroll payments – Sending salaries to remote employees in different countries.
- Personal remittances – Transferring money to family or friends abroad.
- Investment and property payments – Funding international purchases or investments.
How long do international bank transfers take?
The processing time for international bank transfers varies depending on several factors, but in general:
| Transfer Type | Estimated Timeframe |
|---|---|
| Standard bank transfer | 1 to 5 business days |
| SWIFT payment | 1 to 3 business days |
| SEPA transfer (Europe) | 1 business day |
| Faster payment services | Same day or within 24 hours |
In some cases, international transfers may take longer due to banking regulations, currency exchange, or public holidays in the sending or receiving country.
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Factors that affect international bank transfer times
1. The banks involved
Transfers between large, global banks are often faster, whereas smaller financial institutions may take longer due to intermediary processing.
2. The transfer method
- SWIFT and wire transfers – Usually take 1-5 business days.
- SEPA (Single Euro Payments Area) transfers – Typically complete within 1 business day.
- Faster payment services – Some fintech platforms enable near-instant international transactions.
3. Time zones and banking hours
Transfers initiated outside of banking hours or on weekends/public holidays may take longer to process.
4. Currency exchange and conversion
If the transaction involves currency conversion, additional processing time is required for forex adjustments.
5. Compliance and security checks
Banks conduct fraud prevention and anti-money laundering (AML) checks, which can delay transfers if additional verification is required.
When should you use an international bank transfer?
International bank transfers are best suited for:
- Large transactions – Business payments, property purchases, and investments.
- Reliable and secure transactions – When transferring funds between trusted parties.
- Cross-border payroll – Paying employees in different countries.
For smaller transactions or urgent payments, alternative methods like digital payment platforms or multi-currency accounts may be more efficient.
Why do international transfers take longer than domestic payments?
Unlike domestic transfers, which are typically completed within hours, international bank transfers require additional processing, including:
- Intermediary banks – Some transactions pass through multiple banks before reaching the recipient.
- Cross-border regulations – Compliance checks and foreign exchange processing take extra time.
- Different banking networks – International transfers may involve banks operating in different financial systems.
Understanding these factors can help businesses plan transactions in advance to avoid payment delays.
Things to look out for when making international transfers
When sending money internationally, consider the following:
1. Transfer fees
Banks charge fees for international transfers, including:
- Outgoing transfer fees – Fees imposed by the sender’s bank.
- Intermediary bank fees – Charges from third-party banks processing the transaction.
- Recipient bank fees – Fees deducted by the receiving bank.
2. Exchange rates
Foreign currency transfers are subject to exchange rate fluctuations, which can impact the final amount received.
3. Banking cut-off times
Transfers initiated after cut-off times (usually in the afternoon) may be processed the next business day.
4. Recipient details
Incorrect account numbers, SWIFT/BIC codes, or IBANs can cause delays or rejections.
5. Public holidays
International transfers can be delayed if they coincide with bank holidays in the sending or receiving country.
Ways to make international bank transfers faster
If you need to send international payments quickly, consider these options:
1. Use real-time payment services
Some providers offer instant or same-day transfers depending on the destination country.
2. Choose banks with direct partnerships
Banks that have direct relationships with foreign banks can process transfers faster.
3. Send payments in the recipient’s currency
Transfers in local currency are often processed quicker than those requiring foreign exchange conversion.
4. Initiate transfers early in the day
Sending money before banking cut-off times ensures same-day processing.
5. Verify recipient details
Ensuring accuracy in bank account details, SWIFT/BIC codes, and IBAN numbers helps prevent delays.
How Budgetly helps businesses manage international transactions
Managing international payments can be complex, but Budgetly helps businesses track and control their expenses efficiently.
1. Real-time transaction monitoring
Keep track of every international payment in one centralised platform.
2. Multi-currency expense tracking
Monitor spending in different currencies to gain full financial visibility.
3. Digital receipt management
Upload and categorise receipts for better record-keeping and reporting.
4. Automated financial reports
Generate detailed reports to help businesses plan future international transactions.
5. Spending controls and approvals
Set custom limits and approval workflows for better financial management across teams.
With Budgetly, businesses can stay on top of international transactions and reduce the risk of payment errors and delays.
Final thoughts on international bank transfer times
How long do international bank transfers take? The answer depends on the banks involved, currency conversion, regulatory checks, and transaction method.
By understanding transfer timeframes, potential delays, and ways to speed up payments, businesses can plan international transactions more effectively.
Pairing your business bank account with a business expense management solution like Budgetly ensures full visibility over international payments, better financial control, and improved efficiency.
Start managing international transactions more efficiently with Budgetly today!
Why not schedule a demo with us today, or watch a 10-minute recorded demo!
