How long do bank transfers take?

The time frame for a bank transfer can vary depending on the method used and the type of transfer you are interested in. Find out which method is the most effective and helps you meet your goals and objectives. Some of the time frames can vary from bank to bank. Call your bank to see what its method is as well as the time frame. You may incur a cost for some and not for others.

Bank Account Transfers

If you want to transfer money between your checking and savings account you can visit a branch and fill out a transfer form and your money will be transferred immediately. There is no fee for this type of transfer. You can also have money transferred from your bank account to another individual's bank account.

ATM Transfers

You can do a bank transfer, between your bank accounts, at an ATM. Enter your pin code and perform the transfer. This transfer will take approximately 2 business days. So you don't want to perform any transactions with the receiving account until you have confirmed that the money is in the account.

Online Transfers

Bank transfers between accounts can also be done online. This process can take approximately 2 to 3 business days. You will need to join your bank's online banking system. You will be assigned a user ID and password.

Wire Transfers

There are also bank wire transfers that you have access to. You can wire money to anyone's bank account in the world. All you will need is his name, address, bank account number and routing number. You will also need the name and address of the recipient's bank. The recipient of a domestic wire transfer will receive the money the same day if you get to the bank before its cut-off time. If the bank wire transfer is done after the cut-off time, the recipient will receive the money the next business day. Domestic wire transfers usually cost between £13 and £16, but the price can vary from bank to bank.

International Transfer

An international wire transfer can be done in approximately 2 to 3 business days. You will need the recipient's name, address, bank account number, routing number and the bank name and address. International wire transfers cost approximately £26 but the price will vary from bank to bank.

Balance Transfer

If you do a credit card balance transfer the process will take 4 to 6 business days if you call the bank and speak to a representative. She will need the account number for the credit card you wish to pay as well as the balance to be paid. The representative can also have the money transferred right into your current account which takes 3 to 5 business days. After the money has been transferred you can issue your own personal checks to pay off the debts you choose.

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About the Author

Melvin J. Richardson has been a freelance writer for two years with Associated Content, and writes about topics such as banking, credit and collections, goal setting, financial services, management, health and fitness. Richardson has worked for several banks and financial institutions and gained invaluable experience and knowledge. Richardson holds a Master of Business Administration in Executive Management from Ashland University in Ashland Ohio.

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