How long does it take to transfer money to another bank?






How long does it take to transfer money to another bank?? Transfer money from another bank is that you have made a transfer to another bank that is not the one you are using. Then the time to receive money will be longer than internal transfer.


The interbank transfer service has made transactions faster and safer for everyone. Not only transferring money domestically, but also transferring abroad has become much simpler. The problem posed here is How long does it take to transfer money between banks?? Please understand these knowledge to be proactive in the work that needs to be transferred to another system.



Other methods of money transfer


Other cash transfers across the network



Bank transfer is a transfer from one bank's account to another bank's beneficiary account. Bank transfers are also known as interbank transfers.


For example, Vietcombank bank transfer to Agribank is called another bank transfer.


Currently, there are many other methods of bank transfer. But the three most common forms are:



  • Go to the bank counter to transfer money.

  • Go to the atm to transfer money.

  • Transfer money online via Internet Banking/ Mobile Banking/ Bank Plus…


How long does it take to transfer money to another bank?


How long does it take to transfer money to another bank? Depending on the method of money transfer you choose, the transfer time will also be different.


Other cash transfers across the network


Transfer money to another bank at the counter


Most banks have the same regulations on money transfer time at the counter. If you transfer money in the morning or before 3pm, the beneficiary will receive the money the same day.


If you transfer money after 3pm (3pm), the beneficiary will receive the money the next morning. Especially, with money transfers on the weekend (Friday afternoon or Saturday morning), if it is not an urgent priority case, it will be pushed to a new week. This means that the beneficiary will receive the money next week.


How long does it take to transfer money via Internet Banking?


Internet Banking is an electronic banking service that helps customers transfer money quickly at home. For this utility, the beneficiary will receive the money almost immediately (choose the feature of fast money transfer via account number). If you transfer at peak hours, at night, you will have to wait until the next day to receive it.


Transfer money at ATMs


The ATM system also allows customers to make wire transfers. This is also considered a form of fast money transfer. Beneficiaries will receive funds in about 30 minutes from successful transfer. It will be received within 6 hours at the latest, note that if it is on a holiday, public holiday or rush hour, it will take longer.


What factors affect money transfer time?


The time you transfer money fast or slow is not the main bank. It also depends on a number of factors related to the customer as follows:



  • When customers transfer money: Some banks when you make a money transfer at night, the time to receive money will be longer. When you transfer money during the day. So everyone needs to transfer money during the day so that the system can work stably.

  • Remittance Bank: Depends on what bank the customer is transferring money to? There are large banks that transfer money very quickly, but some small banks that transfer money more slowly.

  • Ways of money transfer: This is the factor most people suffer from. When you open the service, you don't know about fast money transfers and choose the normal transfer method. So the time that the other party can receive your money will be very long. Everyone needs to be aware of this.


Some questions when making money transfers from bank customers


Transfer money but not receive money for a long time, what to do?


It can be seen that, when transferring money within 1 week, the beneficiary will receive the money. So if after 7 days you still have not seen the money in your account, you must notify the bank to check it immediately. Maybe your transaction crashed. If you cannot continue to transfer, the bank will calculate a refund option for you.


Can I get it back after I transfer?


Nowadays, scams are very common. Many people transfer money only to find out that they were scammed, want to get their money back but don't know what to do? Because the beneficiary information is correct, the bank will not be able to intervene for you. You can only file a complaint with the police. If the case is investigated and the perpetrator is caught, there will be a plan to refund the money to the scammer.


How to handle when transferring money to the wrong account


Many people have fallen into trouble when transferring money to the wrong account. If mistakenly transferred to a non-real account, it is simpler, the bank will automatically refund the money to you.


If mistakenly transferred to any user's account, there will be 3 solutions as follows:



  • If the wrong recipient has not used the wrong amount. Or the beneficiary account has enough balance to repay. Then the bank will automatically deduct money from the wrong recipient to refund you.

  • If the recipient has used part of the wrong amount, or the account does not have enough balance to return the wrong amount. Then the bank considers that person to partially refund, the rest is refunded in the form of installments. The bank will oversee this refund process.

  • In case the recipient mistakenly refuses to return the money. The wrong transferor has the right to ask for the intervention of a competent authority to enforce a refund. If the amount is relatively large, it can be sued.


What is the average bank transfer fee?


Fees for money transfer vary from bank to bank. However, the average fluctuates at 11,000 VND - 22,000 VND.


Banks will give you 2 payment options. The fee can be paid by the sender or by the beneficiary. If a customer needs to transfer an amount greater than 100 million, in addition to the transfer fee, they must also pay an additional inventory and accounting fee.


What should I pay attention to when transferring money to other banks?



  • If you want to transfer money quickly and conveniently, you'd better choose Internet Banking/ Mobile Banking…

  • If you transfer at a bank, it should come in the morning, don't transfer on the weekend because your transaction will be pushed to the next week.

  • Transferring the same bank to the banking system is cheaper and faster than other banks.

  • During the transfer, special attention should be paid to the recipient's account number. Just one of the wrong account numbers will send you money to the wrong person.


The above article bankcuatoi.com has provided readers with some knowledge about time How long does it take to transfer money to another bank? and other related issues. If you find this knowledge useful, please share it with your friends.


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