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How Long Do International Wire Transfers Take?

Decoding Inward Remittances: Navigating Speed and Efficiency
rohit
Rohit17 January 2024

Cash flow is the lifeblood of any business, and late cross-border payments can bleed through your operational costs. From missed opportunities to strained relationships, delays in foreign or inward remittances have a significant impact.

This blog unpacks the payment system intricacies across key markets, to help you navigate the global payment maze and avoid costly delays.

Time Taken For Inward Remittances Worldwide 

The central banks of various countries have set frameworks and policies to ensure seamless and secure financial transactions. Like India’s NEFT and RTGS, major countries have their payment networks with distinctive processing times and cost structures.

Here are the major countrywide payment systems with their processing times. 

Time Taken by ACH Payments

Automated Clearing House, or the ACH network, is an interconnected computer system that communicates with each other to help transfer or receive payments within the US. 

The ACH network has evolved from person-to-person payments to allow individuals to utilise the network to make bill payments, pay salaries to employees or make mortgage repayments. 

Time Taken by ACH Payments

The National Automated Clearing House, or NACH, governs the payments executed through the ACH network. 

Payments made through ACH usually take 1-3 business days to settle. Such payments, called standard ACH payments, differ in cost structure from same-day ACH, which settles the payments on the same day but comes with a higher fee. 

ODFI (Originating Depository Financial Institution) settles regular ACH payments at 8:30 AM on the following business day after initiating debit requests and settles credit requests at 8:30 AM on the following second business day.

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