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momac · 12 December 2008, 09:54 AM

If it's a domestic (US) wire transfer it uses the Federal Reserve to send the wire to the Beneficiary bank. This only takes minutes if the Fed is not backed up. If the Fed is backed up it can take up to 1 hour. It it's an international wire it can take 1 day or more. If the transaction is Domestic and takes more than 1 day, that means they are sending it via another means other that wire transfer. They may be using ACH, which is a next day settlement.

Hope that helps.

12 December 2008, 09:54 AM	#21
momac "TRF" Member Join Date: Sep 2008 Location: new york Posts: 69	If it's a domestic (US) wire transfer it uses the Federal Reserve to send the wire to the Beneficiary bank. This only takes minutes if the Fed is not backed up. If the Fed is backed up it can take up to 1 hour. It it's an international wire it can take 1 day or more. If the transaction is Domestic and takes more than 1 day, that means they are sending it via another means other that wire transfer. They may be using ACH, which is a next day settlement. Hope that helps.

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