Is it normal for USD transfers within the EU to take around four days?

Asked Dec 8, 2014· 1 answer ·EMEA, Europe, European Union, United Kingdom, United States Dollar
Faisal KhanAnswered Dec 8, 2014
This transaction should have cleared the next day because of SEPA (as everyone has highlighted).

Couple of reasons here why the transaction took 4 days to clear:

  • Transaction conducted on a weekend, after the time UK banks had posted to SEPA clearing.
  • The sending bank does not have SEPA arrangements
  • The SEPA limit for settlement by either the sending or the receiving bank was reach (though this is highly unlikely).
  • Either the sending or the receiving bank held on to the transfer for purposes of float. In the UK and Europe, you can take an action on a bank for doing so.
  • The Bank itself does not have a USD desk for payment, and most likely pushed this out to an FX broker for onward settlement in which case, this delay is possible.
Money TransferSending Money Abroad (Consumer)Receiving Money from Abroad (Consumer)Outward Remittances EMEAEuropeEuropean UnionUnited KingdomUnited States Dollar
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