But, there are a few situations where you might have questions about timing. However, because of the number of countries and currencies available, it can feel a little overwhelming to keep track of the basics (such as fees and exchange rates) for each type of transaction. Yes. After we send your money out to your recipient's bank, they'll process and clear the money. After 8 PM on a business day, the transfer will be processed on the next business day. Thanks & Welcome to the Forbes Advisor Community! Wise (TransferWise) review: Fees, limits and more | Finder Prior results do not guarantee a similar outcome. The app is fully featured and well-reviewed, scoring 4.4 (Android) and 4.8 (Apple) out of 5. If they dont have that currency balance, Wise will automatically create one for them and add the money to that currency balance. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. It usually takes 12 working days to receive money from SEPA countries and 4-5 working days to receive money via SWIFT payments. We can't confirm when the money has reached and been processed . To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Youll get the mid-market exchange rate and can hold and exchange 50+ currencies all in the same place. You can only receive RON from Romania. 50% of Wise transfers are instant, and 90%+ arrive within 24 hours . Factors that affect how long a money transfer takes. HDFC International Money Transfer [Fees, Charges, Transfer Time] - Wise In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. You can only receive SGD from Singapore. If you need to upload additional documents verification can still be done on the same day in some cases - or certainly within a couple of working days. Are you sure you want to rest your choices? We then attempted to call Wises customer service department, but an automated message informed us the phone lines were closed at the moment. We were directed to find another way to contact Wise or to visit the Wise website to find out when the phone lines are open. Avoid paying with a credit card. To summarise: Bank payments can take 1 or 5 days for major currencies, and will only be processed within banking hours and subject to meeting cut-off times. Make sure your documents are up-to-date, and the images you sent are clear. There are 3 main ways most people receive money from overseas. Click on your transfer. Here are some key facts about Wise safety and security: TransferWise is a financial technology service, not a bank. If you love to travel or shop online with international retailers - or if you need to receive or send regular international transfers - a Wise multi-currency account (formerly called Borderless Account) could make it easier and cheaper to manage your money across borders. Send payments online or in the Wise app, in 50+ currencies. Transfers through your bank are expensivereally expensive. Recipient gets (Total after fees) Transfer fee. I move money -> $ $ -> a few times per month and Wise have never let me down. They give customers an exchange rate thats the midmarket rate plus an additional percentage, or markup, to make a profit on the transfer. She previously edited content on personal finance topics at GOBankingRates. The processing times for wire transfers can vary a lot.