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Average money transfer time?


itruk

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Hey all.

I recently (15th) took a fancy to a watch on puretime and decided to pay using bank transfer.

I used my bank, HSBC, to transfer money overseas to the details given.

Just a general question to how it takes for them to receive it? Nothing has left my account.

I know in the emails from puretime that it was said that the payment may take some time to process.. I was just wondering how long?

Thanks!

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Hey time is around 3 to 5 days normally most Banks Got a Express transfer but cost alot more

The deal is you send money They keep your money to use as They like (to make a profit ) in loans to ohters etc.

And They charge a fee to try to make up if They lose your money and if you use Express transfer They only use 2 days so They miss more time to make a profit and so They want more money to do the service

Hobe it clarify a little for you

I Always b2b if i can more safe never liked paypal since b2b alot more safer for you so you cant get scammed

If you get scammed you can make your bank take the money back :)

Best regards Simon

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Hi and welcome. Make it 2 days for Your banc to prepare the money to be sent, 3 to 5 days because it is really a long way to China and partly they go on foot and another 2-3 days for the Chinese banc to receive it, more if it´s a local branch (all working days).  WU is a better way, at least faster if available. Paid 11,25 euro exchange rate cost and 20 euro WU fees, about 13% on top once (287 eur instead of 255). PP also do charge a lot if You use their conversion option instead of Your bancs.

Please post Your experience when it´s done, including if possible what You we´re charged in transfer and exchange cost because that would be interesting to know.

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Use pp if you can your information your choice .but may help .you never know .u r safe on pp

Sent from my SAMSUNG-SM-N900A using Tapatalk

They're so good that most dealers are afraid of accepting payments from them. Paypal are bastards, they act like a bank but have to follow none of the banking rules. They are fortunate to have a monopoly on these types of payments, I'd be long gone to the competitors otherwise.
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Ezio, I think you're confusing bank transfer and credit card charge. You can't just do a "chargeback" on a bank transfer. Even if you typed in the wrong account number and want your bank to correct the mistake you're going to have a though time.

Hey j3t no im petty sure about it my wife works in the biggest bank in Denmark i once ordered some parts from USA after a month Playing cat and mouse with the seller i realised it was a scam i went to my bank and They Got my moneyback :) might just be for Denmark Then but it still works to this day :)

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Hey j3t no im petty sure about it my wife works in the biggest bank in Denmark i once ordered some parts from USA after a month Playing cat and mouse with the seller i realised it was a scam i went to my bank and They Got my moneyback :) might just be for Denmark Then but it still works to this day :)

It competely will not work in the UK.

 

If I do a direct bank transfer and type the account number wrong I am completely at the mercy of the receiver to give me my money back. I always get the person I'm paying to send me an email and then cut and paste the details into the online banking screen - if it's wrong it's their fault and they still owe me the goods. I think I've only done b2b transfer to companies about 4 times in my life.

 

DirectDebit is the only thing that allows for clawback in the UK for transfers from a bank account.

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I am with HSBC and done the same. Don't send money on a weekend as it will not show up till Monday, sent through again Monday and whammy. Two payments leave my account.

I send money to china almost weekly and it usually shows up in minutes, on weekdays.

I sent £4k to the wrong account number in china and obvs pooped myself a bit.

But contacted my bank about this and they said they can get it back. They sometimes charge a fee (£25 mid 2013).

The contact the intermediary bank who contacts the bank in china, bank in china gives authorisation and funds are released.

The amount you get back will be slightly different, due to exchange rates.

I hope this sheds a bit of light on your situation.

Sent from my iPhone using Tapatalk

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Here in the USA  B2B within the USA are within 24 hours, sometimes minutes, but international can take up to 5 days. I send money to Europe frequently, and it usually takes 4-5 business days. has to go from my bank to and intermediary bank in NY and then to the overseas bank.

 

AFA I have been told and have read, when the money is transferred this is a non reversible transaction. I would imagine that if you discovered within a very short time (minutes or and hour or two), your bank could stop it if say you discovered you made and error in the account number of the recipient. however once it gets to the destination bank, it may not be recoverable. Probably the cases where it was recovered were instances where the account number you sent in error doesn't correspond to any active account at the bank, or the account holder is not aware of the money in the account, and the bank could withdraw it and send it back. However if you sent it to the correct account, and  later you realize it was a scam or you don't want the deal to go through, you are out of luck if the recipient has already picked up the money or transferred it to another account. 

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Fees are crazy on transfer to china. Although it was quick-within 24 hours. My "watch" bank is a small rural bank in my town. Just did a wire transfer to a TD on a cheap $309 piece and banks fees on my end $45 and on $20 on china side so paid $65 bucks in fees. While I am not a PayPal fan certainly a better and quicker deal. Guess that is why it is important to have good feedback and to establish relationships with the TD's. Or buy m2m which is what I usually do.

Sent from my iPhone using Tapatalk

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