You can create a transfer whenever you'd like in your account. However, when the transfer is sent is dependent on the processing times of different banks, usually within the local business hours.
Transfers may not be processed until the next day due to being booked outside of business hours, including weekends or public holidays.
If you make a transfer, it will show as 'Processing' in your account until it is processed at the next available time. Once the transfer has been sent, the status will change to 'Sent'.
- What is the "transfer date"?
- What happens if the transfer date is a holiday for the currency of your recipient?
- What happens when the transfer date is not specified?
- Which timezone is my transfer date in?
What is the "transfer date"?
When making a transfer in the web app, you'll be asked to input a "transfer date".
The transfer date is the day we send the money to your recipient, not the day they receive it. Your recipient should get the money within the processing time, usually 3-5 business days from the transfer date.
What happens if the transfer date is a holiday for the currency of your recipient?
If the date you choose for us to send your transfer falls on a holiday or non-business day for your recipient’s currency, then we’ll send the money on the next business day.
Please note, because our partners are located in different time zones across the globe, transfers may also be impacted by regional holidays in the countries you are sending to and from.
What happens when the transfer date is not specified?
The transfer date will be set to the default transfer date, which is the earliest available date we can start processing your transfer.
For most customers, the default transfer date is the current date. The transfer date is also impacted by the available settlement date when you fund a transfer with a different currency.
Which timezone is my transfer date in?
The location of the Airwallex entity you registered your account with, will determine your account time zone.