How long does it take to transfer money?
When dealing with money, nobody wants to spend time waiting around - we’ve all got better things to do than waste time with slow financial processes or waiting in queues. We could all be doing something much more productive and interesting!
This is especially true for money transfers. Some providers have painfully slow processes, and it sometimes seems that your money will never arrive!
Here are some of the factors that affect the speed of your transfer:
- Your transfer provider’s processing time
- The recipient bank’s processing time
- The destination for your money - certain countries may have different procedures for transfers
- Whether you and the recipient need to fill out forms at your sending or receiving institutions
- The payment method for sending and receiving - some methods may need additional time to clear before the funds can be accessed
- The time of day you want to send the money - some providers may only send their money at a set moment during the day, so not immediately
- The method you choose - if you have to travel and queue up before you can make the transfer
How can you speed up your transfers?
The simple way to make sure the transfer process is fast is by choosing the right provider to help you send money abroad.
Here are some of the criteria you should target to make sure that there won’t be any delays on your money’s journey:
- A simple transfer platform which is easy to use yourself from home
- Fast processing and settling times
- 24/7 availability for transfers
- Large network of global banking partners
- Excellent global reach, with lots of countries on the platform
Paysend - we deal in speed
Paysend is an online money transfer platform that you can use 24 hours a day, 7 days a week from the comfort of your own home. This means that you don’t have to travel to a bank or remittance outlet and queue to send your money. You can do it all on your smartphone or laptop at all hours of the day or night - we have Paysend night mode to help you out if you’re more of a nocturnal person!
Sending money with Paysend is fast. How fast? Well, usually your money arrives within a few minutes. Sometimes it takes just a few seconds! So in the time it takes you to make a cup of tea or look at the weather forecast, your money should have arrived on the other side of the world!
Depending on where you’re sending your money, your recipient’s bank’s processing time may be slightly longer than ours (some companies aren’t quite as fast as us ??) so in extreme cases it can take up to three days.
What are you waiting for? You need to head to the App Store or Google Play and download the Paysend Global Transfers app now! Ready. Set. Go!
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Here's the short answer: yes, you can use a credit card to get money into someone's bank account abroad. "Credit card to bank transfer" means exactly that — you fund the transfer with your credit card, and your recipient receives it in their bank account. Or on their card, in their wallet, or as cash to collect, depending on where they are.
The card and the bank account do different jobs. Your card pays for the transfer. A provider like Paysend then pays the money out through local systems on the other end. It's one flow, and it takes about a minute in the app.
One thing worth knowing before you start: a credit card is usually the most expensive way to fund a transfer. Some issuers treat it as a cash advance, and credit tends to carry higher payment fees than debit. You'll always see the full cost, exchange rate included, before you confirm anything. What follows is: the ways your money can arrive, what each one costs, how fast it gets there, and the cheaper routes worth checking first.
Every month, thousands of people working in the Czech Republic send part of their payday home — many of them Ukrainians supporting family across the border. And the traditional route makes it harder than it should be: bank wires that ask for IBANs and SWIFT codes, fees that only show up after the money's gone, and days of waiting while someone at home is counting on it.
Pavel Štich has spent years helping his readers solve exactly that. He's Co-Founder and Lead Financial Editor at Moneyo.cz, an independent Czech platform that compares money transfer services, stock brokers, and alternative investments — and a Paysend Ambassador, which means he tests what he recommends, explains it plainly, and brings his readers reader-only perks. We asked him how Moneyo started, who reads it, and why he chose Paysend.
