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How long does a SEPA transfer take?

  • 22-01-2020 8:20am
    #1
    Ben D Bus
    Registered Users, Registered Users 2 Posts: 2,151 ✭✭✭


    Hi, I made a SEPA transfer to an account in Hungary on Monday evening.

    The recipient, being used to instant transfers, is wondering where their money is!

    How long does a SEPA transfer normally take?

    Thanks.


Comments

  • #2
    tuxy
    Closed Accounts Posts: 14,983 ✭✭✭✭tuxy


    https://www.bankofireland.com/help-centre/faq/can-transfer-funds-365-online/#panel2

    3 working days to an account in the EU/EEA but not euro currency. 
    If you started the transfer after 3.30pm that day does not count and it will start processing the next day. 


  • #3
    Bank of Ireland: Aisling
    Closed Accounts Posts: 487 ✭✭Bank of Ireland: Aisling


    Hi Ben,

    Thanks for getting in touch with us here on Boards.

    The information shared above would be correct.

    The funds should be received within 3 working days, if the transfer is made after 3:30pm on a working day, the transfer will begin processing the following working day.

    Thanks,
    Aisling.


  • #4
    Ben D Bus
    Registered Users, Registered Users 2 Posts: 2,151 ✭✭✭Ben D Bus


    Thank you.

    I'm so used to instant transfers with online services.

    Oh well. TransferWise or Revolut from now on!

    Why do electronic transactions take so long in this day and age?


  • #5
    tuxy
    Closed Accounts Posts: 14,983 ✭✭✭✭tuxy


    Ben D Bus wrote: »
    Thank you.

    I'm so used to instant transfers with online services.

    Oh well. TransferWise or Revolut from now on!

    Why do electronic transactions take so long in this day and age?
    It's the currency conversion with SEPA I believe.
    It would be one day if the transfer was in Euro. 


  • #6
    Bank of Ireland: Aisling
    Closed Accounts Posts: 487 ✭✭Bank of Ireland: Aisling


    Thanks for getting back to us here Ben.

    It would take up to 3 working days for the transfer to be completed as it would be a currency exchange.

    Any SEPA transfers made in EURO would appear in the recipients account the following working day, so long as the funds were transferred before 3:30pm on a working day.

    Thanks,
    Aisling.


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