Some bank transfers, like Faster Payments, will go through on Saturdays. Other methods like Bacs and CHAPS do not process on weekends and will wait until the next business day.
The fastest way is to use a money transfer app like TransferGo. We get your money to your receiver's bank account in Nigeria in less than half an hour—usually just 2 or 3 minutes!
Banks process wire transfers on the same day from Monday to Friday. As a result, money sent on weekends will have to wait for the next business day to be processed. Along with that, the wire transfer cut-off times also impact processing times.
Most banks now process payments to accounts at other banks every day (as of May 2023), including weekends and public holidays. Banks batch and process payments frequently each day.
This all depends on the bank transfer method you use. If you and your receiver's bank use Faster Payments, then the money will reach the recipient's account within two hours – even on the weekends. However, this won't be possible with BACS and CHAPS, which will go through on the next working day.
Where you're sending or receiving funds. Domestic wire transfer: Due to EFAA regulations, most bank-to-bank wire transfers between accounts in the US are completed within 24 hours. Some banks make wired funds available to recipients immediately, especially on transfers between accounts at the same institution.
Many transactions will show as pending over non-working days, meaning transactions may show as pending over weekends and holidays. Typical processing times for different transaction types are as follows: Cash and direct deposits are usually cleared by the following business day.
ACH debits, such as bill pay or withdrawals, generally take 1-3 days to process, while ACH credits, such as direct deposits or vendor payments, generally take just one day to process. Same-day ACH, which typically requires an additional fee, processes the same business day.
When you send a wire transfer, you'll receive a Federal Reference number, or fed number, that confirms the transaction¹. If you're worried about your payment, you can contact the sending bank and request a trace on the wire transfer using the reference number¹.
It all depends on the delivery option you choose when ordering your transfer. We don't process transfers on bank holidays, so if you order a standard transfer just before a bank holiday, it will be completed on the next working day. Security checks can sometimes affect the speed of a transfer.
To check your transfer status in your own profile, click on the 'Home' button. Your transfers will be marked as either 'In progress' or 'Completed'. 'In progress' transfers have 2 statuses: 'Awaiting payment': this means that we haven't received your money yet.
Transfers typically happen quickly. Generally, domestic bank wires are completed in three days, at most. If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes.
If money is transferred but not received, the sender should contact the bank or service used to initiate the transfer to track the transaction. They can also contact the recipient's bank to inquire if the funds have been received.
Does direct deposit go through on weekends? The ACH network does not settle payments on weekends (or holidays) when the Federal Reserve system is closed. If your payday falls on a Saturday or Sunday, it won't post until Monday.
FAST is available anytime, 24x7, 365 days. Can I make funds transfer from a FAST participating to a non-FAST participating bank? No, FAST only enables funds transfer between accounts of the 19 participating banks in Singapore.
Initiation date: ACH payments are not processed on weekends or holidays. Payments initiated on these dates will not start processing until the next business day.
Monitoring ACH Transfers
If a payment hasn't appeared within three days, contact your bank or perform an ACH trace number lookup to pinpoint the transaction's status. Banks can trace the funds by reviewing the transaction date, amount, and trace number, ensuring the transferred funds reach their intended destination.
Because ACH transfers are processed in batches, direct ACH payments typically take one to three business days to appear in the recipient's account—longer than it generally takes to process wire transfers, credit card transactions, and ATM transactions. No international payments.
If you make a transfer before 6pm (AEST/AEDT) on a business day, the payee will usually get the funds the following business day. If it's after 6pm (AEST/AEDT) or on a weekend or public holiday they'll get the funds within two business days.
Do banks process payments on weekends? Weekends are generally non-business days for banks. Payments received on weekends are generally processed on the next business day, Monday, unless it's a federal holiday.
Regular payments (i.e. automatic payments) are sent on their due dates even if it falls on Saturdays, Sundays, or public holidays.
Bank Hours: Many banks and financial institutions are closed on weekends, which means that wire transfers may not be processed until the next business day. However, some financial institutions may have extended hours or be open on weekends.
Funds can be transferred almost immediately and usually within a couple of hours, rather than days. Banks and building societies operating the Faster Payments service can process payments and transfers 24 hours a day, any day of the week, including weekends and Bank Holidays.
Batch Processing: ACH transactions aren't processed individually. Instead, they're grouped in batches and sent at specific times throughout the day. This batching system helps ensure smooth operation and prevent network overload but can add some waiting time.