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How long does a bank transfer take?

There are a number of factors that determine how long a bank transfer will take to be implemented. There are also different types, which allow a transfer to be classified.

According to the execution time

Depending on the time for the bank transfer to be effective, we distinguish between:

  • SEPA standard transfers. These are the most common and are carried out in the routine way, so that the amount transferred is available in the destination account in one working day. In any case, the time at which the order to execute the transfer is given may determine this period. Each bank has its own “cut-off time”. So, for example, if a bank has a "cut-off time" of 14:00 and the transfer is made after that time, the transfer would be executed on the next business day. 
  • SEPA immediate transfers. Sometimes the recipient may need to receive the money on the spot. In this case, immediate transfers can be used, so that the transferred amount will be available in the destination account within 10 seconds of its execution. These types of transfers are available 24 hours a day, 365 days a year.

According to the geographical destination of the recipient account

Depending on the country of the bank account for which the transfer is intended:

  • SEPA transfers. Since the entry into force of the Single Euro Payment Area (SEPA), for both for national transfers and those made to other SEPA countries in the European currency, the maximum execution period is one business day.
  • International transfers. In case the transfer is made outside the SEPA Area or in non-Euro currency, there are SWIFT transfers, whose execution time can be between 1 and 5 days.

According to the origin and destination banks

Another factor that can affect the execution time of a transfer is the bank of origin and destination of the funds.

  • Transfers made between the same bank. If both the sending and the receiving accounts belong to the same bank, the transfer will be made within the same day. 

An alternative to any of these options that allows you to make a transfer practically immediately in Euros are TARGET transfers (also known as OMF: Order of Movement of Funds). These are transfers in Euros made through European Central Banks, available only on working days, with a cut-off time of 17:00.

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