How long do international bank transfers take?

Key takeaways

• International bank transfers typically take between 1–5 business days via SWIFT, depending on the corridor and intermediary banks involved

• Transfers sent over local payment rails through modern providers can deliver funds same-day or next business day for many corridors

• Transfer speed depends on payment method, cut-off times, time zones, weekends, public holidays, and compliance requirements

• Australian businesses can significantly reduce transfer times by choosing providers that use local payment networks over traditional SWIFT routing

Waiting days for an international payment while your shipment is held. Missing a client deadline because funds arrived late. Watching exchange rates move against you while your transfer crawls through the system. These delays cost Australian businesses thousands in lost opportunities and strained relationships every year.

While domestic transfers clear instantly through PayID or NPP, overseas payments can still take time. International transfers usually take 1–5 business days¹, and the uncertainty is the real challenge – you can’t be sure if it’ll be one day or five until the money arrives.

Often the gap comes down to the payment method and provider. Modern platforms can deliver funds same-day or next business day by using local payment rails, but cut-off times, banking hours, and compliance checks still add complexity.

This guide explains how long different types of international transfers take from Australia, what causes delays, and how to make sure your payments arrive on time.

How do international bank transfers work?

International bank transfers work by moving money from a sender's bank account in one country to a recipient's account in another country through either the SWIFT network or local payment rails. When you initiate an international wire transfer, your bank or payment provider converts your currency to the recipient's currency (if needed) and routes the payment through the most appropriate network based on the destination, amount, and urgency of the transfer.

The traditional SWIFT method sends secure messages between banks with payment instructions, often requiring the funds to pass through 1–3 intermediary banks before reaching the final destination². Each bank in this chain processes the transaction during their business hours.

Alternatively, modern providers use local payment networks by maintaining accounts in multiple countries. They receive your AUD locally in Australia, then simultaneously pay out from their account in the destination country using that country's domestic payment system, significantly reducing bank to bank transfer time to same-day or next business day for many corridors.

How long do international bank transfers take?

International bank transfer times depend primarily on the transfer method used. Understanding these different methods helps businesses plan their international payments more effectively:

Traditional bank transfers (SWIFT)

Technically, most international payments sent over SWIFT reach the receiving bank very quickly — around 90% arrive at the beneficiary bank within the first hour². But this doesn’t mean the money is in the recipient’s hands. 

• 1–5 business days for most international transfers

• Faster processing (1–2 days) for major currencies and corridors

• Potential delays for first-time recipients or high-value transfers

Modern payment platforms

Fintech providers like Airwallex leverage local payment networks for speed, significantly reducing how long a bank transfer takes:

• Same day to next business day for supported corridors

• 24/7 processing capabilities for many routes

• Real-time tracking and notifications

Fastest ways to send money abroad

Routing payments via local payment rails through a modern provider is typically the fastest and most predictable method for many corridors, often delivering in as little as one business day or faster. 

When choosing the fastest route for an international money transfer, consider corridor coverage, fee transparency, and whether you need the full amount delivered without intermediary deductions.

• Local payment rails via specialist platforms: Often same-day or next-day delivery depending on corridor; fewer intermediary deductions; best for common routes where local networks exist.

• SWIFT wire transfer: Broadest reach; typical 1–5 business days with variability from correspondent chain, time zones, and holidays.

• Timing tips: Initiate early in the week, avoid cross-border holidays, and ensure complete beneficiary details to reduce manual reviews and minimise transfer time.

Common factors that delay international bank transfers

There are several factors that can affect international bank transfer speeds:

• Bank processing time: Each bank or financial institution has its own unique processes to handle transfers, which affects the processing speed of international transfers.

• Banking infrastructure: Bank transfers are likely faster between countries with well-established banking relationships and advanced financial infrastructure.

• Country-specific regulations: Some countries have stricter regulations for international transfers. This means more thorough documentation or checks, which can slow down transfers.

• Currency exchange: More time is required to lock in fluctuating exchange rates. Less commonly traded currencies may have limited liquidity, leading to conversion delays. Some currencies are more strictly regulated and may have limitations on international transfers.

• Regulatory compliance: Banks must perform Know Your Customer (KYC) checks and adhere to Anti-money Laundering (AML) regulations. Verifying customer identities and monitoring transactions for suspicious activity can sometimes add to processing times⁴ .

• Time zones: If the sending and receiving banks are in different time zones, there may be gaps in processing time due to differing business hours.

• Banking days and holidays: Transfers initiated outside regular banking hours, such as weekends, public holidays, or towards the end of a business day are likely to be delayed.

• Intermediary banks: Transfers involving multiple intermediary banks can increase processing time as each bank handles its own verification and processing steps.

• Fraud prevention checks: Banks often implement security measures to prevent fraudulent transactions, and transactions flagged will take longer to process.

• Technical Issues: Technical problems with banking systems or communication networks can disrupt transfers.

• Wrong recipient details: Errors in recipient bank details can cause transfers to fail or be delayed. Correcting errors and initiating a new transfer can add to the overall processing time.

What details do you need to send money overseas?

Before initiating an international transfer, ensure you have all the required information to avoid delays:

Essential recipient details

• Full legal name: Must match exactly as it appears on the recipient's bank account

• Complete address: Physical address (not PO Box) including street, city, state/province, postal code, and country

• Phone number: Some banks require this for verification purposes

Banking information required

• Account number or IBAN: The International Bank Account Number (IBAN) is mandatory for transfers to Europe and many other countries

• SWIFT/BIC code: An 8 or 11 character code identifying the recipient's bank globally

• Bank name and address: Full name and physical address of the recipient's bank

• Routing number: Required for US transfers (ABA routing number)

• Sort code: Required for UK transfers

• BSB number: Required for Australian domestic transfers

Additional requirements by country

• India: Purpose code and supporting documents for amounts over certain thresholds

• China: Business registration details and invoice documentation for commercial transfers

• UAE: Detailed purpose of payment and beneficiary identification

• Brazil: Tax identification number (CPF/CNPJ) required

Transfer-specific information

• Transfer amount and currency: Specify whether you're sending or the recipient should receive a fixed amount

• Purpose of payment: Many countries require this for regulatory compliance

• Reference number: For invoice payments or to help recipients identify the transfer

Your relationship to recipient: Some banks require this for compliance

What fees are involved in an international bank transfer?

International bank transfer fees vary depending on several factors, such as the financial institution or service provider, the transfer method, and transfer amount. Here are some common expenses you may encounter when sending money abroad:

• Transfer fees: Banks may charge a fee for processing the transfer.

• Exchange rate margins: The exchange rate margin is the difference between the mid-market exchange rate and the exchange rate set by the bank. This expense can often be hidden, so make sure you get a good deal with your financial institution.

• Intermediary bank fees: If the transfer involves multiple banks, they may each charge a fee from the transfer amount, so the recipient receives a reduced amount.

• Recipient bank fees: The recipient's bank may charge a fee for receiving and processing incoming international transfers. These fees can vary by bank and country.

• Sending fees: Sometimes, your bank or provider can charge you a fee for initiating an international money transfer.

• Currency conversion fees: If you're sending money in a currency different from your account's base currency, your bank or transfer service may charge a currency conversion fee. This fee is separate from the exchange rate margin.

Hidden costs to watch for

• Poor exchange rates: A seemingly free transfer with a bad exchange rate can cost more than one with transparent fees.

• Correspondent bank deductions: Your recipient might receive less than what was sent due to intermediary fees.

• Weekend markups: Some providers increase margins during weekends when FX markets are closed.

How to track an international transfer

Modern international transfers should be fully trackable from initiation to completion. With Airwallex, you can view the real-time status of your payment directly in your dashboard, so you always know where your funds are and when they’re due to arrive. You can also retrieve FX rates or quotes and select a conversion date of your choice, giving you more control over your payments. 

SWIFT GPI tracking

Many banks now offer SWIFT GPI (Global Payments Innovation)³ which provides:

• End-to-end payment tracking with unique reference number (UETR)⁵

• Confirmation when funds credit the beneficiary account

• Transparency on fees deducted along the payment chain

• Estimated time of arrival for the payment

What to expect from tracking

• Real-time updates: See when your payment is processed, in transit, or delivered. Airwallex provides these updates in-app and via API.

• Fee transparency: Understand exactly what fees were charged at each step.

• Delivery confirmation: Receive notification when funds reach the recipient's account.

• Issue resolution: Quickly identify and resolve any delays or problems.

If your transfer is delayed

1. Check tracking first: Use your reference number or the Airwallex dashboard to see the current status

2. Verify recipient details: Confirm all information was entered correctly

3. Contact your provider: They can investigate delays and provide updates

4. Common resolutions:

   • Providing additional documentation for compliance

   • Correcting recipient information

   • Waiting for the next business day after holidays

   • In rare cases, cancelling and resending the transfer

How Airwallex speeds up international transfers

Airwallex accelerates international transfers for Australian businesses through:

• Global infrastructure: Set up local accounts in 60+ currencies in your business name instantly online within the one account.

• Smart routing: Automatic selection of the fastest payment route for each corridor

• Extended operations: 24/7 processing for many corridors, beyond traditional banking hours

• High success rates: 95% of transfers arrive within 24 hours; 52% arrive same-day or instantly

• Transparent tracking: Real-time visibility of payment status through dashboard or API

• Bulk capabilities: Process hundreds of payments simultaneously without delays

• Local payment rails: Leverage domestic networks in 120+ countries, covering around 90% of transactions for faster settlement.

• Multi-currency corporate cards: Issue and manage cards that draw directly from your global balances to simplify overseas spending and reduce FX costs.

By leveraging local rails where available and maintaining pre-funded accounts globally, we typically deliver transfers 70% faster than traditional banks while providing complete transparency throughout the payment journey.

Ready to experience faster international transfers? Open an Airwallex account today and join thousands of Australian businesses already benefiting from our global payment infrastructure.

International bank transfers: Frequently asked questions

What are local vs SWIFT transfer timelines?

Local payment rails in supported corridors often deliver funds the same day or within one business day, since money moves domestically at each end. SWIFT wires usually take one to five business days due to intermediary banks, cut-off times, and compliance checks, with extra delays possible around holidays or when details are missing. Using platforms that route payments via local rails can shorten delivery times and reduce fees, making a clear difference in how long international bank transfers take.

Why do some international transfers take 5+ days?

Extended delays affecting how long an international money transfer takes usually result from multiple factors: correspondent banking chains with 3+ intermediaries; enhanced compliance reviews for high-risk corridors; weekends and public holidays in multiple countries; time zone misalignment between sender and receiver; and incomplete or incorrect beneficiary information requiring manual intervention.

Can international bank transfers be instant?

Yes, certain corridors using real-time payment networks can deliver funds within seconds or minutes. However, crediting still depends on the receiving bank’s policies, and some banks only post incoming funds during business hours. In practice, most international transfers still require a few hours to one business day.

Do international bank transfers process on weekends?

Traditional SWIFT transfers aren’t processed on weekends as banks are closed, which extends how long an international transfer takes. Some modern providers can process over weekends where local payment networks run 24/7, but FX conversion and recipient bank policies can still delay when funds are finally credited.

What's the fastest way to send money abroad from Australia?

The fastest methods to minimise how long it takes to transfer money prioritise local payment networks over SWIFT, submitting the transfer early and well before cut-offs, transferring major currency corridors with developed infrastructure, and using providers with 24/7 operations. For maximum speed and optimal bank to bank transfer time in Australia, use a provider that maintains local accounts in your destination country and can leverage domestic payment rails.

How can I track my international transfer?

Tracking options depend on the provider. SWIFT GPI gives banks end-to-end tracking, showing when funds reach the beneficiary bank. With Airwallex, you can see real-time updates in your dashboard or app at every stage of the transfer. Traditional banks often only confirm when a transfer has been sent. For the clearest view, choose a provider that offers transparent, real-time tracking.

What happens if my transfer is delayed?

If your transfer is taking longer than expected, first check with your provider for status updates and tracking information. Common causes affecting international wire transfer times include pending compliance reviews requiring additional documentation, incorrect beneficiary details needing correction, or processing delays due to cut-offs or holidays. Most delays resolve within 1-2 additional business days once issues are addressed.

Are international bank transfers safe?

Yes. International transfers are overseen by regulators and supported by strict security standards. In Australia, all providers must register with AUSTRAC, which monitors anti-money laundering compliance, and banks are supervised by ASIC. Encryption and fraud-prevention measures are standard across the industry to protect your money and data.

The key is choosing a reliable provider. At Airwallex, we combine this regulatory oversight with our own global infrastructure, so your funds are not only secure but also delivered faster and with full transparency. 

Sources:

1. https://moneysmart.gov.au/banking/sending-money-overseas

2. https://www.swift.com/swift-resource/252339/download

3. https://www.swift.com/products/swift-gpi

4. https://www.swift.com/swift-resource/252216/download

5. https://www.swift.com/payments/what-unique-end-end-transaction-reference-uetr

This information doesn't take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) read the Product Disclosure Statement (PDS) for the Direct Services available here.