How long does interbank transfer take

If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes. Occasionally, there are delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected.

Holidays can also disrupt wire transfers. Wire transfers are normally final. There are a few exceptions, however. Your wire transfer may be reversible if the bank that initiated the transfer made a mistake.

For example, if the recipient received more money than he or she was supposed to, that issue may be resolved. If you begin a wire transfer but change your mind about sending someone money, you may be able to cancel the transaction. A relatively new rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act says that consumers sending money internationally usually have the right to cancel their wire transfers for free within a minute period.

You can also reverse a wire transfer if the money is taking a long time to reach its destination or goes to the wrong account. For international wire transfers, note that you may also loose money if the currency exchange is lower on the date of the reversal.

The transfer must go as a traditional inter-bank transfer and it could take business days. If you transfer money from Heritage Online on a desktop or mobile browser to another financial institution, it will take business days to arrive. We can help you with your every day banking needs.

If you're looking for a daily transaction account or a competitive savings account, we can help you access your money, your way. How are individual customers able to perform IBG transfers? Which financial institutions offer IBG?

What are the daily limits to the amount of money that can be transferred via IBG? What are the service charges for using IBG? How long will it take to transfer funds to other banks via IBG? How will I know if my fund transfer has been successful or not? What happens if I transferred funds to a wrong account number? What is a future dated transaction and how can I make one?

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