By Charlie Hinwick, ACCA · Last updated 24 October 2026 · Sources listed at the foot of the page

What does the law say about transfer times?

Regulation 86 of the Payment Services Regulations 2017 sets the maximum execution time. Where it applies, your provider must make sure the money reaches the recipient’s bank by the end of the business day after it receives your payment order, with one extra business day for paper-based orders. Regulation 85 limits this to payments in euro, payments wholly within the UK in sterling, and payments involving only one conversion between euro and sterling, carried out in the UK.

For other payments, such as sterling to US dollars or Australian dollars, the regulations allow you and your provider to agree different terms. In practice that means the timescale is whatever your provider’s terms say, so read them before you rely on a date.

Amendments made in 2024 added one exception for UK sterling payments: a provider with reasonable grounds to suspect fraud may hold a payment, but no longer than necessary and never beyond the end of the fourth business day after receipt.

How fast are SWIFT payments in practice?

Most international transfers that leave a UK provider travel over the Swift network. Swift reported in August 2023 that 89% of cross-border payments on its network reached the recipient’s bank within an hour. The same release noted a gap that matters to you: only around 60% of wholesale payments reached the end customer’s account within an hour, because of checks, batch processing and opening hours at the receiving end.

In other words, the network is rarely the bottleneck. Delays usually happen before a payment leaves or after it arrives at the destination bank.

What slows an international transfer down?

Cause	Why it delays the payment	How to reduce it
Cut-off times	An order received after the provider’s cut-off counts as received the next business day	Book early in the day
Weekends and holidays	Both currencies’ markets and banks must be open	Check public holidays at both ends
Compliance checks	Large or unusual payments trigger source-of-funds questions	Send documents before you book
Intermediary banks	Each correspondent bank in the chain adds processing time	Ask the provider how it routes the currency
Incorrect details	A wrong IBAN, BIC or name can cause a rejection and a return	Confirm details by phone with the recipient

How long do transfers take to common destinations?

Our corridor guides give typical timings and the account details each destination needs. Euro payments from the UK go via SWIFT rather than SEPA when a currency conversion is involved, which is covered in the guides to Spain and France. Longer-haul routes such as Australia cross more time zones, which can push arrival into the next local business day. Every route is listed on the send money abroad hub.

How do you plan a transfer around a deadline?

1. Open and verify your account with the provider weeks ahead, not days.
2. Send source-of-funds evidence before you book a large transfer.
3. Ask the provider for its cut-off time and expected arrival date in writing.
4. Allow at least two spare business days before a completion or payment deadline.
5. If the date is fixed and the amount is large, consider fixing the rate with a forward contract so that a delay cannot also cost you on the exchange rate.

Frequently asked questions

Why is my international transfer taking so long?

The most common reasons are a missed cut-off, a holiday at either end, a compliance check, or a correspondent bank in the chain. Ask your provider for the payment’s tracking reference; most SWIFT payments can now be traced end to end.

Are currency brokers slower than banks?

Not once your account is open, because both use the same payment networks. The first transfer can take longer while identity checks are completed. See bank versus currency broker.

Can an international transfer arrive the same day?

Often, for major currencies booked early in the day. Swift’s own data shows most payments reach the recipient’s bank within an hour; same-day credit then depends on the receiving bank.

Does a large transfer take longer?

The payment itself does not, but large sums are more likely to trigger anti-money-laundering checks. Our large transfers guide lists the documents to prepare.

Can a bank hold my payment because of fraud concerns?

Yes. For UK sterling payments, the regulations allow a hold of up to four business days where the provider reasonably suspects fraud. Providers also have anti-money-laundering duties that can pause any payment while questions are answered.

Last updated 24 October 2026 · Compiled and checked by Charlie Hinwick, ACCA. Nothing on this page is a personal recommendation or regulated financial guidance. Timings are general; confirm them with your provider before you rely on a date.