Factors That Affect the Speed of a Wire Transfer

Money is critical and has a lot of means to be dealt with. Many fraudsters will try their best to lure you into a trap and then deceive you. Most of such scams happen while transacting in money transfer certificates. Wire transfers between domestic U.S. banks are mostly completed within 24 hours. On the other hand, international transactions take one to five business days.

Though, that’s not the same for all wire transfers. As you understand, “what is a money order or how long does a wire transfer take?” you need to bestow some more time on identifying numerous variables that can potentially hinder the speed of electronic money transfers. Note that some of these factors will be beyond your control, but you can still work on manipulating others to speed up the transaction.


All electronic funds transfers don’t move at the same speed. Certain factors influence their pace. Read below these factors thoroughly and get going.

Time of Transfer

When the transaction was made makes a huge difference in how long it takes to clear. Time and day when you submit your wire transfer paperwork is essentially the most common variable here. Be at ease! You can have control over it since it is easy to alter precisely to speed up the process.

Each financial institution has its unique cutoff time for electronic fund transfers. While for some, it is 2 p.m., Monday to Friday for same-day clearance, some others have a cutoff time of 5:15 p.m. for international transactions and 6 p.m. for domestic ones.

Thus, submit all your paperwork before the deadline if you wish the transfer goes out the same day. Otherwise, it will not go out until the following business day. So, it all depends on the time of transfer.

Location of Recipient

Domestic work gets done rapidly because of territorial privilege. And if you are sending the money within a single institution, it will be way swifter to get it done. International transactions are overwhelming at times. Typically, they take longer, partly because of the recipient bank. The recipient often slows down the process to ensure security against fraudulent transactions.

In fact, some nations are labeled “slow-to-pay” due to their prolonged finance-related processes. Some of these nations are China, Brazil, Indonesia, Russia, Argentina, and Cambodia.

Bank’s Method of Fund Transfer

The three most commonly used methods of wire transfers are FedWire, CHIPS, and SWIFT. Let’s see how these three methods affect the momentum of money transfer.


Often considered the fastest method of electronic fund movement, FedWire is reserved for large amounts and time-sensitive transactions. It is applicable only when domestic transfers are to be made. But these are processed almost immediately as once a wire is sent by your bank through FedWire, the recipient gets it instantly, particularly if the recipient bank is the same.


Short for Clearing House Interbank Payments System, CHIPS is the process of grounding multiple transactions into batches and sending in a large transaction. There might be a slight delay compared to other methods as wires are sent in groups rather than as individual transactions.


Society for Worldwide Interbank Financial Telecommunications (SWIFT) is the primitive method of electronic funds movement. Under this system, wires are sent via intermediate banks before reaching their final destination. Due to this, the bank’s cutoff times and other administrative factors delay the transfers.


Wire transfers are used for sending huge funds because they are secure. You are provided with a Federal Reference Number that ensures the uniqueness of your transactions. This reference number can also be used for tracking the status. Overall, it is speedy, secure, and typically helps you get past all the hurdles en route.