How Long Do International Money Transfers Take?

When you’re working in another country, sending money back home can be a great way to help your family. But how long does it take to send money abroad? The duration for international money transfers can vary significantly based on the method you choose. Factors such as the service provider, the countries involved, and the payment options can all influence how long for international money transfers. It’s essential to compare different services to find the most efficient option for your needs.

There are several factors that determine how quickly your funds will reach the recipient. These factors include:

• How you are sending the money
• Where you are sending the money
• How you want the money to be received

There are three main ways to send money: digitally, through a bank transfer, or through the mail.

Digital Transfers

Digital money transfers, which include money transfer services or apps and mobile wallets, are often a fast way to send money to another country.

With a service like Remitly, for example, delivery can be fast. Select a country to see Remitly’s available delivery speeds and pricing for your destination.

Bank Transfers

Bank transfers can be a fast way to send money internationally. However, the processing times of your bank and the bank abroad may add more time to the transfer and retrieval of funds. What’s more, you may encounter higher fees than with a money transfer app.

Mail Service

Mailing funds — using a money order, for example — is typically the slowest method to complete an international transfer. You’ll need to factor in the shipping time as well as how the postal service can be affected by the weather, weekends, and holidays.

Safety is also an issue here. There’s a good reason that mailing cash or even money orders has become less common over the years. It’s less secure, harder to track, and less convenient than other methods.

Which Is the Fastest?

Sending money digitally often can be the quickest and most efficient method. This is because money transfer services and mobile wallets often have relatively quick processing times.

Because the process is electronic, currency can be converted automatically at competitive exchange rates and with low service fees. In certain cases, it is possible for the recipient to receive money in minutes.

4 Ways to Send Your Money

1. Money Transfer Service

Money transfer services are completed online or in the form of an app. You’ll need to make an account and from there, you can typically use a debit or credit card to pay to send your funds to another country.

2. Mobile Wallets

Mobile wallets are another digital way to transfer money internationally. While some cannot send money directly to other countries, you can use a money transfer app like Remitly to send funds to your recipient’s mobile wallet. The recipient can use the funds straight from their e-wallet or transfer the money into their bank account.

3. Bank Transfers

There are a few ways that you can complete a bank transfer.

One method is to use a money transfer app to send funds to your recipient’s bank account. The app will prompt you for specific information and then funds will be directly placed in their account.

You can also transfer money from your bank account to theirs through an international wire transfer, which is handled through the bank whether it is through their website or in person.

For this method, you’ll need to go through a bank where you have an account. You will need to provide information about the recipient and their bank account before the transfer can be completed.

The fees for this service will vary from bank to bank. The timeframe of a bank transfer depends on the bank itself and the way that it handles international transfers.

4. International Money Orders

International money orders are not electronic and are sent out by mail. You can purchase them through postal services or certain banks.

A money order is a document that can be exchanged for cash by its recipient. You typically pay for it with cash, a traveler’s check, or a debit card. Credit card payments are not accepted with this method.

Delivery Speed Varies by Location

The amount of time for your money to be received can differ depending on the destination country.

If you use a money transfer app like Remitly, you can simply select the country to which you are sending the money and see the timeframe for delivery.

If you are going through your bank, be sure to take into account different time zones, as well as weekends and national holidays.

For more information about transferring money, read up on common money transfer terms.

Frequently Asked Questions (FAQs)

How long does an international money transfer take?

International money transfer times vary depending on the provider, destination country, payment method, and how the recipient receives the money. Some digital transfers may arrive within minutes, while bank transfers can take longer. Transfers involving weekends, holidays, additional processing, or mailed money orders may require more time.

What is the fastest way to send money internationally?

Digital money transfer services and mobile wallets can be among the fastest options for sending money abroad. Depending on the service, destination, payment method, and other factors, some transfers may be delivered within minutes. Check the provider’s estimated delivery time before confirming your transfer.

How long does an international bank transfer take?

There isn’t one standard timeframe for an international bank transfer. Processing times depend on the sending and receiving banks, the countries and currencies involved, and whether intermediary banks are required. Weekends, bank holidays, time zones, and verification requirements can also affect when funds become available.

Why is my international money transfer taking longer than expected?

A transfer may take longer because of bank processing times, weekends or holidays, recipient information that needs to be corrected, additional verification, payment method processing, or requirements in the destination country. Your transfer provider should be able to provide the latest status and estimated delivery time.

Do international money transfers process on weekends?

It depends on the transfer method and provider. Some digital money transfer services may process transfers outside traditional banking hours, while transfers that depend on banks may be delayed until the next business day. Local holidays in either the sending or receiving country can also affect processing.

Does the destination country affect transfer speed?

Yes. Available delivery methods, banking infrastructure, local regulations, currencies, holidays, and provider coverage can vary by country. With Remitly, you can select your destination country to see the delivery options and estimated speeds currently available for that transfer route.

Does the payment method affect how quickly money arrives?

Yes. How you fund a transfer can affect its processing and delivery time. Available options may include a bank account, debit card, or credit card, depending on the service and transfer route. Before sending, review the estimated delivery time associated with your chosen payment method.

Are international money orders slower than electronic transfers?

Generally, yes. International money orders must be physically mailed, so delivery depends on postal transit times in addition to the time needed for the recipient to receive and cash or deposit the money order. Weather, weekends, holidays, and postal delays can extend the overall timeframe.

How can I help avoid delays when sending money abroad?

Before submitting a transfer, carefully check the recipient’s name, account information, and other required details. Complete any identity verification requested by the provider and review the estimated delivery date. If timing is important, compare the delivery speeds, fees, and receiving options available for your destination rather than choosing based on speed alone.