Swedish international money transfer

togster

Hi all. Apologies if this has been asked before...
Does anyone know how long it takes for money to be transferred from ireland to sweden. I transferred monday at 12 am approx last monday.(still waiting) And also why does it take so long??

griffdaddy

It takes 3 working days as far as i know, but in some cases it takes longer, particularly if you do it after midday or if you don't do it in your account branch (it has to be routed through your local branch in the majority of cases.) I had to send money to Holland yesterday so i was told all this then.

togster

Thanks!!

I did it after midday in my local branch. Just find it strange as to why it takes so long.

Rashers72

Why did you not pay it electronically via the internet with your bank? - cheaper + quicker. I know the AIB service for cross border transfers via the internet is very efficient. Not sure about the others.
Going into any bank branch is always going to be slower, as it involves lots of paper work, checking details, security checking, rekeying of information etc.
You might also have chosen the cheaper, but slower option.
If you needed your funds transferred urgently, you should have advised the branch in advance. They would then advise you accordingly.
It also very much depends on if you paid EURO or SEK to Sweden, and how long the bank abroad took to process the payment.
The introduction of the Euro has slashed the cost of inter country transfers within the Eurozone, but the length of time to process such transactions has remained the same. However, this will change in the coming years.
Hope that helps a little.

togster

Rashers72 wrote:

Why did you not pay it electronically via the internet with your bank? - cheaper + quicker. I know the AIB service for cross border transfers via the internet is very efficient. Not sure about the others.
Going into any bank branch is always going to be slower, as it involves lots of paper work, checking details, security checking, rekeying of information etc.
You might also have chosen the cheaper, but slower option.
If you needed your funds transferred urgently, you should have advised the branch in advance. They would then advise you accordingly.
It also very much depends on if you paid EURO or SEK to Sweden, and how long the bank abroad took to process the payment.
The introduction of the Euro has slashed the cost of inter country transfers within the Eurozone, but the length of time to process such transactions has remained the same. However, this will change in the coming years.
Hope that helps a little.

It did help. Thanks

Sangre

Standard transfers with IBAN/BIC take up to 3 working days and cost about 50c for funds under 12,500e. However you can usually pay around 30e to get it to arrive the same working day. This is only for euro transfers, any non-euro transfers cost about 30e afaik.

p.s. aib is the only bank that can transfer internationally online at the moment (afaik)