How long does it take a bank to transfer money from another bank account?

How Long Does It Take a Bank to Transfer Money From Another Bank Account?

When you transfer money from one bank account to another, the time it takes for the funds to arrive depends on a few factors, including the recipient’s bank and the type of transfer.

Same-Bank Transfers

If you’re transferring money between two accounts at the same bank, the funds are typically available immediately. This is because the transfer is processed within the bank’s own system, so there’s no need to wait for the funds to clear through a third-party network.

Interbank Transfers

If you’re transferring money between accounts at different banks, the process is a bit more complicated. The transfer will need to be processed through the Automated Clearing House (ACH) network, which is a system that connects banks and other financial institutions.

ACH transfers typically take 2-3 business days to complete. This is because the ACH network processes transfers in batches, so your transfer may need to wait until the next batch is processed before it’s completed.

Expedited Transfers

If you need the funds to arrive more quickly, you can request an expedited transfer. Expedited transfers are processed outside of the ACH network, so they can be completed in as little as one business day. However, expedited transfers may come with a fee.

Factors That Can Delay a Transfer

There are a few factors that can delay a bank transfer, including:

• Errors in the account information. If you enter the wrong account number or routing number, the transfer may be delayed or even rejected.
• Insufficient funds in the sending account. If you don’t have enough money in your account to cover the transfer, the transfer will be delayed until you add more funds.
• Bank holidays. Banks are closed on federal holidays, so transfers initiated on a holiday will be delayed until the next business day.

How to Track a Bank Transfer

You can track the status of a bank transfer by logging into your online banking account or calling your bank’s customer service department.