How long does a Wise money transfer take?

How Quickly Can You Transfer Money with Wise?

Wise, formerly known as TransferWise, has become a popular choice for international money transfers due to its transparent fees and generally fast transfer times. But how long does a typical Wise transfer actually take?

The short answer is: usually within 24 hours, but sometimes up to two business days. This timeframe covers the majority of transfers. Wise provides a clear estimate during the transfer initiation process, factoring in the specific currencies and banking systems involved. This upfront transparency allows you to plan accordingly.

It’s important to distinguish between different types of transfers within the Wise system:

• Transfers between your Wise account balances: This is the fastest option. If you’re moving funds between your various Wise currency balances, the conversion is usually instant. This is particularly useful for managing your money across different currencies without incurring delays.

• Transfers to external bank accounts: This is where the 24-48 hour timeframe comes into play. The actual transfer time depends on several factors, including:

  • The sending and receiving banks: Processing times vary across different banking institutions. Some banks are faster than others.
  • The currencies involved: Transfers involving less common currencies might take slightly longer.
  • Regulatory compliance: Wise adheres to strict regulatory compliance measures which, in rare cases, can slightly impact processing times.

What Happens if There’s a Delay?

Wise is proactive in keeping you informed. Should any unforeseen delays occur during your transfer, you will receive a notification directly through the Wise app or your email address. This ensures you’re always aware of your transfer’s status and any potential issues. The notification will usually explain the reason for the delay and provide an updated estimated arrival time.

In Conclusion:

While the vast majority of Wise transfers complete swiftly within a 24-hour window, allowing for a quick and efficient money transfer experience, it’s wise to anticipate a potential extension to two business days. The instant conversion feature for internal balances offers even greater speed and convenience. With transparent communication and proactive notifications, Wise strives to provide a reliable and predictable international money transfer service.