Whether you are depositing or withdrawing funds, we understand that you expect your funds to arrive quickly. When delays occur, it is natural to wonder where your money is. Here is a look at why delays happen and how you can avoid them.
Bank operating hours
Banks process transfers during their business hours. If you send funds on a weekend or public holiday, the deduction usually happens the next business day.
Intermediary banks
International transfers often involve intermediary banks (third-party banks that facilitate transfers between different financial institutions). Because the funds must pass through these additional banks, the process often takes longer than a local transfer.
Security and compliance
To keep the financial system safe, banks conduct security checks to prevent money laundering and fraud. While these reviews are essential for protecting your funds, they can sometimes pause the transfer process.
Keeping the above in mind, here are a few tips to help you minimize delays in your next transfer:
Double check information
It is always important to check and confirm the details of the transfer before sending. Even a small error, like a missing digit in an account number, can cause the transfer to be rejected. We provide you with all the information you need to add for your manual deposit. All you need to do is copy the details that are in the deposit instructions, which will be shared with you on the screen following the deposit request, and you will also receive them in an email.
Match your currency
Sending funds in the same currency as the receiving account helps you avoid delays caused by currency conversion. You can read more about this point here.
Allow for processing time
International bank transfers typically take 1 to 4 business days. Keeping this timeline in mind can help you plan better and reduce stress.
If you are ever concerned about the status of a transfer, our support team is available 24/7 to keep you updated.