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How long does a transfer take?

The duration of a transfer varies depending on several factors, including the payment method and recipient’s location. Here’s an overview of the processing times for different payment methods available through Transfer Vault:

Global Payments

SWIFT: Up to 5 working days.

  • SWIFT is used for international transfers and can take longer due to intermediary banks and varying banking processes in different countries.

SEPA: Up to 1 working day.

  • SEPA payments are for Eurozone countries and select others (like UK, Switzerland, Norway), providing quicker transfers within this region.

UK Payments

Faster Payments Service (FPS): Instant settlement.

  • FPS is a UK-only method supporting GBP transfers, settling instantly.

CHAPS: Same-day settlement if instructed before 5pm.

  • CHAPS ensures same-day settlement for domestic UK payments.

BACS: 2-3 days settlement.

  • Standard method for UK direct debits, taking a few days to complete.

Reasons for Delayed Transfers

If your transfer is taking longer than expected, consider these factors:
  • Payment Method: Different methods have varying processing times.
  • Weekends/Bank Holidays: Non-working days can delay processing times.
  • Recipient Bank: Some banks may have slower processing times.
To ensure faster processing, schedule payments during weekdays and bank opening hours. For detailed inquiries or assistance with your transfers, contact Transfer Vault support.

Do you require any additional help?

Contact us to learn more about our services and receive assistance from our dedicated support team.
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