When making bank transfers, it is important not only at what point an electronic transfer is made but at what point the transfer will be affected.
Therefore, it is necessary to learn, among other things, the rules applied in individual banks in the field of making transfers. This allows you to be sure that the transfer will be completed within the prescribed time.
In each bank, there are different rules for booking transfers. In this regard, you can talk about both hours when transfers are carried out in a given bank as outgoing transfers as well as incoming transfers booked on banks ‘clients’ accounts. Most banks during the day perform two or three times both the booking of incoming transfers and the execution of outgoing transfers. When you have an account at a specific bank, it is worth checking exactly which hours are valid in this respect at the selected bank. Individual banks have different hours of both incoming and outgoing transfers. The first outgoing transfers are carried out in the banks in the morning, that is between the fifth and the sixth hour. At about the same time, the first postings of incoming transfers are also carried out. Last transfers are booked or carried out in the late afternoon hours.
Why is it worth knowing when transfers are posted?
When you want to make a transfer on a given day so that the money reaches the other person’s account on the same day it is necessary to have knowledge about the time of bank transfers in which you have an account and you must know at what times the bank, in which is the account of the person to whom the money is sent, performs the booking of transfers. When you make a transfer in the morning, it will be easily accomplished on a given day when you have enough funds on your account. However, the problem may be the implementation of transfers in the afternoon. Then you need to check exactly whether it is possible to execute a given transfer on a given day from the point of view of the time of posting transfers and sending transfers at banks.
Operation of the banking system
One should also take into account that banks use a special interbank system, which is also part of the international system of transfers. This system allows you to make transfers only on business days. Therefore, the bank transfer, which is ordered in the evening on Friday, will take place only on Monday morning. The same applies to all weekend transfers, which will be carried out at the bank where the account is only on Monday morning and they will be credited to another bank on that day. The only option to make transfers on Friday evening and weekend, which allow you to send funds to another person’s account without using the system of inter-bank ordinary transfers, is the use of express transfers.