Timing is everything when it comes to making international money transfers. And having to work out how time zones affect international money transfers can be a bit of a curveball.
While you can hop online and make a digital transfer at any time of the day or night, the banking system that enables you to send—or your recipient to receive—money might not be operational. That can slow your remittance down and leave you guessing when the funds will clear in the destination account.
To help you navigate these time zones and avoid unnecessary money transfer delays, this Remitly guide will give you all the information you need to be prepared to make money transfers happen fast and securely.
How international money transfers work
To understand how long money transfers take and why time zones might affect those speeds, it helps to have a bit of background on how international money transfers work. When you send money across borders, several things need to happen for it to be successful:
- Transfer initiation
You provide the recipient’s details and payment information through your bank, money transfer service, or digital wallet.
- Verification and compliance
The sending institution verifies your identity, checks the transaction for potential fraud, and ensures the transfer complies with regulations.
- Currency conversion
If you’re sending money in a different currency, the exchange rate is locked in and the funds are converted.
- International payment processing
The money moves via international payment networks like SWIFT, sometimes passing through intermediary banks. - Funds received
The receiving bank or remittance service processes the incoming transfer and makes the funds available to your recipient.
International money transfers typically take one to five business days when they’re sent through traditional banking channels. Using a digital-first money transfer service like Remitly can speed that up dramatically, cutting delivery times down to hours or even minutes.
How do time zones affect money transfers?
The concept is simple: just because it’s 2 p.m. where you are doesn’t mean it’s 2 p.m. where your recipient is. In fact, it might be 2 a.m., which means that their local banks will be closed.
While the internet never sleeps, traditional banking infrastructure still does. And when you’re making an online transfer, time zones will affect whether you’ll catch banking hours in the recipient’s country.
Banks operate on local business hours, typically Monday through Friday, and many don’t process international transfers outside of these windows. This means a transfer initiated outside banking hours will have to wait to be processed until the next business day begins.
For example, if you send money on a Friday afternoon in the US, it might already be Saturday morning in countries like the Philippines or India. As banks don’t usually push international money transfers through on weekends, it’s likely that things won’t get going until Monday morning local time.
Transfer times and costs
If you missed the Friday cutoff and you’re sending money on a Saturday to give it the best chance of reaching the recipient by the next weekend, you’ll also want to factor costs into your thinking.
Some providers apply weekend markups to exchange rates because foreign exchange markets operate differently on weekends. That means you might pay more, and may get a less favorable exchange rate, when the live foreign exchange market is closed.
Why do bank cutoff times matter when you’re transferring money?
A cutoff time is a bank’s daily transfer deadline: a specific time of day by which a transfer must be submitted to be processed on the same day. It’s usually early in the afternoon, a couple of hours before the official end of banking hours.
If you miss the cutoff, your transfer won’t start processing until the next business day. Many US banks set their international wire transfer cutoff times between 2 p.m. and 5 p.m. local time, but this varies by institution, and remember that the US itself has more than one time zone.
Let’s say you’re sending money from California to the UK. You initiate your transfer at 4 p.m. on a weekday in California, one hour before your bank’s cutoff time. While your bank will start processing the transaction, the bank you’re sending to in the UK can’t do the same until they open the following morning because time zones mean it’s midnight there.
Here, the time zone difference means that you’ll likely add around eight hours to your transfer delivery time.
Do banks process transfers on weekends and public holidays?
Most banks don’t process international foreign exchange transfers on weekends or public holidays. But here’s what can make timing even more tricky: different countries observe different holidays. That means that a working day in the US might be a national holiday in the recipient’s country, which could affect processing times.
Weekends aren’t all the same, either. In most Western countries, the weekend falls on a Saturday and Sunday. However, in many Middle Eastern countries like Egypt and Saudi Arabia, the weekend falls on a Friday and Saturday. In Iran, it’s Thursday and Friday.
This means that if you send money to Egypt from the US on a Thursday afternoon, the transaction won’t be processed until Sunday, Egypt’s next business day.
Keeping these differences in mind and a calendar on hand when you’re planning to make an international transfer can help you to avoid any potential processing delays because of weekends and public holidays.
How to avoid time zones slowing down your money transfer
Understanding how time zones affect international money transfers is one thing. Avoiding delays is another. Here are some practical strategies you can use to ensure the funds you send get where they’re meant to go in good time:
Finalize the details in advance
Before you send any money, make sure you have all the information you need. Get your recipient’s payment details (e.g. bank account information, mobile wallet number, or cash pickup location). Be sure to verify your own account information and check that you have sufficient funds available, too.
This is important: if there’s an error in the recipient’s details, your transfer might be rejected and returned to you. This process can take several business days and the delay may be compounded by time zone differences. A simple mistake could mean that your money takes days extra to reach its destination.
Double-check your recipient’s account number, full name, and address, as well as your own information before hitting send. Having everything on hand from the start gives you the best chance of success for a timely transfer.
Send during business hours
Timing your transfer to fall within overlapping business hours at both your bank and the recipient’s can speed up delivery. Take into account your time zone and the recipient’s to find a window when banks in both locations are open.
For example, if you’re sending money from Los Angeles in the US to Manila in the Philippines, the best time will be early in the afternoon: around 2 p.m. your time. Los Angeles is 15 or 16 hours behind Manila depending on Daylight Saving Time, so the transfer can begin processing promptly and potentially land at the receiving bank the next business day.
Always check your bank’s cutoff times when making international transfers. Sending money earlier in the business day, well before the cutoff, ensures that processing can start immediately. This gives it the most time to clear through all the necessary channels before banks close.
Avoid weekend or public holiday transfers
As far as possible, it’s wise to plan your transfers to avoid weekends and holidays in both countries. We mentioned that most banks don’t process international transfers on weekends, so if you send money on your Friday and it’s the weekend at the destination, they won’t process the payment until their next working day.
Think about sending a payment to Mumbai, India, from Los Angeles, US, on a Friday afternoon. As it’s already Saturday morning in India and banks are closed for the weekend. And if Monday happens to be a holiday in the US, the transfer would be delayed again. What you thought would be a quick turnaround ends up taking four or five days just to be sent between the two banks.
Consider checking holiday calendars, both for the US and the recipient country, before you set up a transfer. Transferring within banking hours and well ahead of any non-banking days will give you a decent buffer against delays.
Use instant or real-time payment services
Real-time payment systems have changed the game when it comes to international money transfers. These services process transactions instantly, settling funds within minutes rather than days.
Unlike traditional banking systems that manage transactions in batches at set times during business hours, real-time payments work 24/7, 365 days of the year.
There are some restrictions, though. Real-time payments may not be available in all countries or for all payment methods. They usually work best when you’re sending money to mobile wallets or bank accounts in countries with modern payment infrastructure. The transfer amounts might also be limited compared to traditional wire transfers.
While these services can eliminate time-zone related delays entirely, it’s best to check whether your money transfer provider offers instant or real-time payment options to your recipient’s country.
Use a digital-first provider
Sending money using mobile wallets or digital pick-ups can help to minimize transfer delays caused by time zone differences. These services can bypass traditional banking systems and are therefore less affected by traditional bank processing times.
Digital-first providers are able to process transfers more quickly because they’ve built infrastructure that doesn’t use banking systems to route money to a destination. That means they can move money during off-hours and weekends.
When you’re choosing a provider, look for one that provides a promised delivery time up front, so you aren’t left guessing how long a transaction will take. Remitly, for example, gives you transparent delivery estimates and multiple payment options, including bank deposits, mobile wallets, and cash pick-up.
These services do cut the time it takes to execute a transfer, but sending money does still take some time. Be sure to send money early in the day, if you can, to give the transaction the best chance of being processed as quickly as possible.
Important time zones to know
China’s Single Time Zone Experiment
China spans five geographical time zones, yet the entire country operates on a single time zone: China Standard Time (CST). This political decision means the sun rises as late as 10 AM in western regions like Xinjiang, while eastern cities like Shanghai experience more conventional daylight hours.
The practical implications affect daily life significantly. In Kashgar, located in far western China, noon feels more like mid-morning based on the sun’s position. Local residents often operate on unofficial “local time” that differs from official Beijing time by up to three hours.
For international money transfers to China, this unified system actually simplifies timing. You only need to remember one time zone regardless of where your recipient lives in the country.
India’s Half-Hour Difference
India Standard Time (IST) sits at UTC+5:30, placing it 30 minutes ahead of its western neighbors and 30 minutes behind its eastern ones. This half-hour offset creates unique coordination challenges for international business and personal communications.
Nepal adds another layer of complexity by operating 15 minutes ahead of India at UTC+5:45. These fractional time zones mean standard world clocks often don’t display the correct local times for these regions.
When sending money to India or Nepal, double-check your timing calculations. Banking hours and transfer processing times require careful attention to these non-standard offsets.
Australia’s Time Zone Maze
Australia manages to pack multiple time zone complications into one continent. The country uses three main time zones, but several states and territories add their own variations through daylight saving time adoption.
Western Australia operates on Australian Western Standard Time (AWST) at UTC+8. Central states use Australian Central Standard Time (ACST) at UTC+9:30. Eastern states follow Australian Eastern Standard Time (AEST) at UTC+10.
The complexity multiplies during daylight saving periods. Not all states observe daylight saving time, and those that do don’t always start and end on the same dates. South Australia and the Northern Territory create additional confusion with their half-hour offsets from the eastern and western zones.
Russia’s Time Zone Reforms
Russia has undergone multiple time zone changes in recent decades, creating confusion for anyone trying to track the country’s current time structure. The nation spans eleven time zones, making it the country with the most time zones in the world.
Recent reforms consolidated some zones while maintaining others. Kaliningrad operates two hours behind Moscow time, while Vladivostok runs seven hours ahead. These changes have affected business operations and international communications across the vast country.
Understanding Russia’s current time zone map becomes crucial for international money transfers, especially given the country’s size and the varying processing times across different regions.
Pacific Island Peculiarities
Several Pacific island nations have created unique time zone situations based on economic and political relationships rather than geographical logic.
Samoa made headlines by jumping across the international date line in 2011, moving from UTC-11 to UTC+13. This change placed Samoa 24 hours ahead of American Samoa, despite the islands being only 120 miles apart.
Kiribati stretches across three time zones but officially operates on a single time for administrative convenience. The Line Islands, part of Kiribati, use UTC+14, making them among the first places on Earth to experience each new day.
Cross time zones with confidence
Time zones can interfere with your international money transfers, but they don’t have to be a blocker when you’re sending money abroad. Understanding how banking hours, cutoff times, and weekends can affect transfer times empowers you to plan ahead and avoid unnecessary waiting.
Investigating alternative payment methods can help, too. Choosing a service that operates 24/7, instead of during business hours Monday through Friday, allows you to overcome hurdles like cutoff times and closed branches.
FAQs
Why is my money transfer delayed?
Your money transfer could be delayed due to time zone mismatches between the sending and receiving countries. If you initiated the transfer when the recipient’s bank was closed, or if you sent the money after your bank’s cutoff time, it won’t be processed until the following business day.
Do exchange rates change based on time zones?
Currency markets fluctuate constantly throughout the day across different time zones. That said, when you initiate a transfer, the exchange rate is typically locked in at the moment you hit “send.” This at least helps to ensure that you know exactly how much your account will be debited and your recipient will receive, regardless of market changes.
Can I send money instantly at night?
Your chosen transfer method will decide whether you can send money instantly at night or not. Mobile wallets and digital remittance services often operate 24/7 and let you transfer money in real time, and at any time. Interbank transfers usually need to be made during business hours.
Does the weekend affect all transfer types?
Not all types of transfers are affected by the weekend. Although banks only process transfers during business hours, mobile wallet transfers and other types of non-bank remittances will often be processed on weekends.
How can I avoid delays when sending money abroad?
Plan ahead by checking the banking business hours in the sending and receiving destinations, being sure to account for time zone differences that might affect processing times. You can also choose faster, always-on methods like mobile wallet transfers, to quickly get your money where it needs to be.