Why are bank transfers so long?


#1

Its kind a sad i have to wait up to 2 days for simple payment. I transfer money today and is expected for wednesday. I have an account i ln barclays i tought it should be instant…


#2

If you’re doing a transfer to a UK account, it’s usually pretty fast. From my experience: between 2 to 12 hours. I think they state 2 days to be safe.

I did a SEPA transfer this morning (UK > Germany), execution was done in 1h, received by the company 45 minutes later (<2h overall)


#3

From UK faster payments website:-

As a minimum, all financial institutions in the UK must abide by the Payment Services Directive (PSD) - this states that any payments made by mobile, internet or phone banking (including standing orders) must arrive by the end of the following business day at the latest.