GITNUX MARKETDATA REPORT 2024

Bank Wire Transfer Duration Statistics

Bank wire transfer durations typically range from 1 to 5 business days, with the majority of transfers being completed within 2-3 business days.

Statistic 1

"It takes 1-2 working days for a EUR bank transfer (SEPA) to arrive (Source: Wise)"

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Statistic 2

"CHAPS payments (often used for property purchases in the UK) typically go through on the same day (Source: GOV.UK)"

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Statistic 3

"A SWIFT payment generally takes 1-4 working days to reach the recipient’s bank (Source: Lloyds Bank)"

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Statistic 4

"Some financial institutions charge $30-$45 for wire transfers (Source: NerdWallet)"

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Statistic 5

"Domestic wire cut-off times vary but are usually around 5 p.m. (Source: HSBC)"

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Statistic 6

"SEPA transfers in Europe usually take 1-2 business days (Source: Wise)"

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Statistic 7

"Some banks make wire transfers on the same day if requested before the bank's cut-off time (Source: Discover)"

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Statistic 8

"Non-SEPA EU transfers can take between 1-3 days (Source: Starling Bank)"

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Statistic 9

"Receiving banks typically take 1 day to process and distribute the funds (Source: UBA)"

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Statistic 10

"Smaller local banks may take longer to process wire transfers (Source: Bank of America)"

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Statistic 11

"Domestic To or from US usually reach the beneficiary within 1 day, at times the same day. (Source: Citibank)"

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Statistic 12

"In some cases, wire transfers may be delayed based on compliance reviews or additional data requirements (Source: American Express)"

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Statistic 13

"Most remittances in USD are being credited on beneficiary accounts within 1-2 days (Source: Tide)"

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Statistic 14

"Some mobile banks like Monzo commit to delivering international transfers within 2-3 working days on average (Source: Monzo)"

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Statistic 15

"Most banks transfer money instantly if both sender and recipient's accounts are with the same institution (Source: Revolut)"

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Statistic 16

"Non-urgent euro transfers to other EU countries should not take more than four days from 1st January 2022 (Source: European Central Bank)"

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Statistic 17

"In most cases, if the bank transfer is submitted by 3 p.m. (ET), including any necessary currency exchanges, the funds will be available the next working day (Source: TD Bank)"

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