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Transfer wire – How long does a wire transfer take? How to make a wire transfer?

Wire Transfer SuccessWire Transfer Success

What is and how to make an international bank transfer wire?

If you are wondering why it takes so long for your bank to wire money to another country, you must first understand how to transfer wire money. And the key phrase is the SWIFT network.

All internationally operating banks are linked to the SWIFT network. SWIFT is an interbank communication system used for international foreign exchange transfers. This is to replace the inexistent direct connections of banks around the world. For this reason, your money can stop at several banks until it reaches the recipient. This is why it can take up to 5 working days for the person you are sending the money to to use.

Wire Transfer banks
Wire Transfer banks

Why does it cost to send a wire transfer?

Money you send across borders can make several stops. And each stop costs. Thus, an international bank wire transfer not only takes time, but can also cost more. Each bank where the money stops charges a fee. And this fee is included in the final cost of your transfer wire.

Personal Banking Wire Transfer
Personal Banking Wire Transfer

How long does an international bank wire transfer take?

In short, up to 5 working days. More precisely? It is difficult to estimate, because an international bank wire transfer depends on several factors. The duration of an international money transfer wire may depend, in the first place, on the time at which you initiate the operation. In some cases, if the request is made after 12:01, this means a day in addition to the situation in which you would have asked your bank to perform the operation at 12:00. The duration also depends on the currency in which you make the transfer and the working hour differences between countries.

Wire Transfer app
Wire Transfer app

The country to which you make the transfer wire, the operating schedule of the banks, but also the legal holidays or the accuracy of the transaction instructions are other factors that make the duration of an international transfer a difficult aspect to estimate.

Transfer wire is the most common way to transfer money today and the world works better thanks to this option we have. For some of us wire transfers are done on a daily basis as it is part of our job or the way we manage our income.

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the Team
Finances Information researcher ☘ Team is an experienced and knowledgeable financial information research team. We are ready to work with you for free to help you succeed in your investing endeavors. All our team members have degrees in finances and banks and extensive experience in annuities, life insurance, estate planning, trusts and others. After many years of investing we made the decision to start our own financial services free information gathering website. Our main goal is to help you make well-informed decisions by providing you with latest trends and news carefully gathered from free internet sources. We submit fresh articles on a daily basis and keep our readers happy with new ideas and insights. The website is self financed and offered free without the need to log-in or create any type of account with us. ☘