Can cross-border transfers be received in real time? Will inter-bank transfers be slow?

Many of my friends do business or have relatives or friends overseas, so there must be international trade funds transactions, and cross-border transfers are common. However, transfers have a processing time. Can cross-border transfers be received in real time?

Can cross-border transfers be received in real time?

Can't.

Usually, cross-border transfers will be reviewed within 1 to 2 working days. After the review is passed, the transferred funds will arrive in 3 to 5 working days, or it may take more than a week to arrive. In addition, cross-border transfers from banks can only be processed on working days. If you apply for a cross-border transfer on weekends or holidays, although the bank will accept the remittance application, the funds will not be remitted until the working day. Therefore, cross-border transfers on non-working days may extend the arrival time. The above is the relevant information about how long it takes for cross-border transfers to arrive.

Will inter-bank transfers be slower?

Interbank transfers may be slower than interbank transfers. Transfers to peers are usually received in real time. As for interbank transfers, there are three remittance methods: real time, 2 hours later, and the next day. Usually, if you transfer an amount of less than 1 million (inclusive) to another bank's account through mobile banking or online banking, choose the real-time remittance method. If the other party's account supports the People's Bank of China's super online banking system, the funds can also be received in real time. If it does not support it, the funds may take about 2 hours to reach the receiving bank.

For inter-bank transfers through self-service machines, the funds are usually frozen for 24 hours before being transferred out, and the funds can be transferred in real time (some city commercial banks need 3 working days to transfer the funds). For counter transfers, the funds are usually transferred within 1 to 2 working days after the funds are transferred out, and expedited remittances can be transferred on the same day. This article mainly describes the knowledge points about how long it takes for cross-border transfers to be transferred, and the content is for reference only.

It is quite difficult to achieve real-time transfer for cross-border transfers. However, when people transfer money through domestic banks, they may need to wait for a while when business is busy. Therefore, for cross-border transfers, the waiting time will generally be a little longer.

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