How long do international money transfers take?
Depending on the method, an international transfer normally takes 1 to 5 business days.
One of the key things to consider when you're sending money overseas is working out how long it's likely to take.
The processing time for an international transfer varies based on which type of provider you're using as well as where you're sending the money.
As a rule of thumb, you can expect an international money transfer to take between 1 and 5 business days.
You can compare how long international money transfers may take with dedicated money transfer services and popular Australian banks below.
How long do international money transfer services take?
International money transfer services like Wise, Revolut and Western Union are known for processing international transfers quicker than the banks.
Here are the standard transfer times of popular providers:
It will normally take up to 2 business days for your transfer to be processed. How long the money takes to then arrive in the recipient's bank account will depend on which bank they're using and the country they're located in. Card payments are generally processed instantly, but bank payments may take 2 days to be processed.1
It will normally take less than 1 business day for the money to arrive in the recipient's account, and may even be transferred within seconds, depending on the transfer method and currency.2
It can take up to 5 business days for the money to arrive in the recipient's account when using an account-based transfer. Cash pickup transfers or mobile wallet transfers can be processed in minutes, but may attract higher fees.3
Compare money transfer services
You can compare popular international money transfer providers based on transfer speed in the table below:
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How we picked theseHow long it takes to send money overseas using an Australian bank?
It takes around 1-3 business days on average for international transfers to arrive in the recipient's bank account when you use an Australian bank. Keep in mind that transfers submitted on a weekend or public holiday, or after the bank's currency cut-off time will be processed on the next business day.
Here are the standard international transfer times for the Big Four Australian banks:
It normally takes 1-3 business days for the money to arrive in the overseas account. If the transfer hasn't arrived within 5 business days, you can reach out to Westpac to confirm the status of the payment.4
It normally takes up to 3 business days for the money to arrive in the overseas account, but may take longer depending on the country you're sending money to.5 Transfers made after the relevant currency cut-off time, will be processed on the next business day. For example, the cut-off time for transfer to New Zealand is 12:30pm (Sydney time), so any transfers after 12:30pm won't be processed that day.6
It normally takes up to 2 business days for the money to arrive in the overseas account.7
It usually takes up to 3 business days for the money to arrive in the overseas account. Like CBA, there are currency cut-off times each day. If you submit a transfer after the cut-off time, it will be processed on the following business day.8
Can you transfer money overseas instantly?
So money transfer services will let you transfer money within seconds or minutes, depending on the transfer method. However, you may need to pay higher fees in order to have the transfer processed instantly.
Here are some other options for sending money overseas as quickly as possible:
Online money transfer services
Companies like OFX and TorFX specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient's bank account, often in as little as a day.
Cash transfers
Services like WorldRemit allow you to transfer cash for nearly instant pickup. While it's a fast way to send money, you may pay more in fees than you would with a digital money transfer service.
What impacts the speed of an international money transfer?
When you send an international money transfer through a bank or money transfer service, you may be provided with an expected delivery date, though this isn't a guarantee of any sort.
Settlement time varies based on many factors, some that are in your control and some that aren't:
- Your bank. Smaller banks may take longer for international transfers, as they may not have an International Bank Account Number (IBAN).
- Receiving bank. If you're sending an international money transfer to a bank other than your own, the banks have to communicate which can take time.
- Time of transfer. Sending transfers earlier in the day is better. If you send it at the end of the day, it has to wait until the next business day to start processing. The same goes for the end of the week, or right before a bank holiday.
- Type of transfer. Some banks offer expedited international money transfer services, but beware of high fees added to your transfer total.
Finder survey: On average, how long do people say their international money transfer takes?
Response | Male | Female |
|---|---|---|
| Same day | 4.27% | 0.53% |
| 1 business day | 1.67% | 2.11% |
| 3-5 business days | 1.86% | 1.05% |
| 2 business days | 1.11% | 1.41% |
| Unsure | 0.74% | 1.05% |
| 5+ business days | 0.18% |
Source: Finder survey by Pure Profile of 1110 Australians, December 2023
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