Location you are sending or receiving from matters EST for same-day domestic transfers and international transfers. For example, Bank of America’s cut-off for next-day and three-day money transfers is 8 p.m. Consider the time of day, the time zone you’re sending funds to, weekends, and bank holidays. How long a money transfer takes depends on the day and time of day that you initiate the money transfer. Here are some factors that may affect money transfer speed: Timing of the money transfer Money transfers can take a few minutes to a few days. Factors that affect how long a money transfer takes That’s why it’s a good idea to check for any fees before initiating a money transfer. Depending on your transfer and whether it’s domestic or international, fees can range. Sending a money transfer often includes a fee. Depending on how and when you initiate a money transfer, funds can be available almost immediately because the money is moving from bank to bank and there is usually no bank hold placed on money received. One of the main differences is how long it takes for the money to arrive. Money transfers are different than other ways of sending funds, such as checks, cashier’s checks, or ACH transfers. The bank then sends a message to the receiver’s bank via SWIFT or another secure network with payment instructions. In most cases, the person sending a money transfer pays for the transaction at their bank. Rather than transferring physical money, a money transfer involves sending information from one bank or financial institution to another.
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