Times to send, receive, or transfer money - United States (2024)

FAQs

What time do wire transfers start in the US? ›

Be sure to give yourself plenty of time to complete the transaction before the cut off time. For most same-day wire transfers, the cut off time is 4:30 p.m. CT. This applies to incoming and outgoing wire transfers. Same-day wires can be sent starting at 7:30 a.m. CT, except weekends and federal holidays.

You should find out when your bank's cut-off time is for wire transfers to ensure your transfer arrives on time. The cut-off time is usually 5 pm, but it can vary between banks. Banks will process requests made after this time the following business day.

In general, the transfer is made between 24 and 48 hours after it has been registered by the bank.

Cut off times

For immediate payments (IPAY), the cut off time is 23:45 on the day you're making the payment. For next day payments (NPAY) and future-dated payments (FPAY), the cut off time is 23:59 on the day before the payment is set to leave your account. These are the cut off times for standard domestic payments.

8:00 p.m. ET for next-business-day or 3-business-day transfer. Funds will be received by the recipient's bank either the next business day or within 3 business days. 5:00 p.m. ET for same-business-day (wire) transfer. Funds will be received by the recipient's bank on the same business day.

Direct deposit typically goes through before 9 a.m. on the day you're scheduled to be paid, unless the payday happens to fall on the weekend or on one of the 11 federal holidays recognized by the United States Government.

What time of day are ACH transactions posted? Standard ACH credit transactions can post as soon as 8:30 in the morning the following day, while ACH debit transactions typically take one to three business days to complete.

BACS payments will usually go into an account between 1am and 7am. This is the standard BACS payment time, so if a payment doesn't arrive by 7am, it may be processed the next working day.

If both the sending and the receiving accounts belong to the same bank, the transfer will be made within the same day. Normally, when it comes to internal transfers, the amount will be available in the recipient's account instantly.

The difference between a wire transfer and a real time payment is that real-time payments take place and settle instantly, but wire transfers can take anywhere from a few minutes to 24 or more hours, depending on the financial institutions involved in the transactions.

What is the shortest time for a wire transfer? ›

Banks process wire transfers only on business days within the cut-off time. The normal time to complete the transfer is 24 working hours, however, we recommend you check with your bank about it. Nowadays, most banking processes happen online.

If the bank initiated the transfer, notify the bank immediately so that it can investigate your claim. If you first contact the bank by phone, it is a good practice to follow up in writing. If you wired the funds through a third party (e.g., Western Union), contact that party to find out what their procedures are.

Fedwire Funds Service Schedule

The funds-transfer business day for each of the Federal Reserve Banks begins at 9:00 p.m. ET on the preceding calendar day (including if that preceding calendar day is a holiday observed by the Federal Reserve Banks) and ends at 7:00 p.m. ET.

Domestic wire transfers usually take less than 24 hours while international wire transfers can take up to 1 - 5 business days — they can be quite slow as many factors influence transfer time.

Sometimes. Wire transfers are required by the Expedited Funds Availability Act to be available to recipients within one business day. A domestic wire transfer sent within the US is therefore usually processed within a few hours, but at times the process can be instantaneous. Timings will depend on several factors.