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.
Banks generally process wire transfers on business days (Monday to Friday). Transfers initiated on weekends will be processed on the next business day.
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.
Transfers to another person's NAB account
If it's after 9pm, or on a weekend or public holiday, they'll receive the funds the next business day.
The role of business days and holidays
But for checks and other items that might need verification (to protect you and the bank), the money usually won't be available until the next business day. It's important to realize that weekends and federal holidays don't count as business days, even if your bank is open.
Most banks now process payments to accounts at other banks every day (as of May 2023), including weekends and public holidays.
A business day refers to any day in which normal business operations are conducted. In Western countries, a business day lasts eight hours and is considered to be Monday through Friday from 9 a.m. to 5 p.m. local time. Business days do not include weekends and public holidays.
8:00 p.m. ET for next-business-day or 3-business-day transfer. Funds will be received by the recipient's bank either the next business day or within 3 business days. 5:00 p.m. ET for same-business-day (wire) transfer. Funds will be received by the recipient's bank on the same business day.
First, most bank branches keep shorter hours on Saturdays, and they're likely to close at noon. So it helps to plan ahead (using our tool) so that you can make it to a branch before it closes.
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.
If people commonly ask whether is Saturday a business day, the general response would be that Saturday is not counted as a business day. This widely accepted designation pertains to businesses, banks, and shipping schedules.
RTGS transfers are available 24/7, 365 days a year, including weekends, public and bank holidays. Once the transfer is initiated, the beneficiary bank credits the recipient's account within 30 minutes of receiving the funds transfer message.
The money leaves your account immediately. It's usually available within 2 hours. For some banks, it can take up to close of business the next working day.
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.
Deposits made to a Bank of America account on a day that is not a business day (Saturdays, Sundays, and holidays) or after cutoff time on a business day will be processed for deposit on the next business day and generally available on the business day following the process date.
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.
Saturday and Sunday: Weekend deposits (including ATM deposits) are processed on the next day's business as Saturdays and Sundays are considered part of Mondays business.
The best days to transfer money are early in the week, such as Monday or Tuesday, and mid-month. These periods tend to have more stable currency exchange rates because they avoid the busy times at the end of the month and on Fridays, when many individuals and businesses make their transfers.
In most jobs, the working week is Monday to Friday, 8 hours per day; many people leave work earlier on Fridays however. Legally, Saturday counts as a workday (Werktag), this is relevant because many regulations have different rules for workdays versus Sundays/holidays, such as in labor law.
"Business Day" means any day that is not a Saturday, Sunday or bank holiday. "Citibank" or "bank" refer to Citibank, N.A., including its agents and service providers, depending on the home financial center of the account(s) from which a funds transfer using the IIT service is requested.
The term business day means Monday through Friday, except the legal public holidays specified in 5 U.S.C.
Banks can't process standing orders, direct debits, and salary payments over the weekend and bank holidays. These types of payments require processing during standard business hours on working days. If scheduled on a weekend or bank holiday, these payments will be delayed until the next business day.
Is Saturday a business day for bank transfers? No, Saturday is not classed as a business day by banks. Weekends are non-business days for banks, so unless you're using the Faster Payments service, your money transfer won't go through until Monday.
New rules now mean that most victims of bank transfer scams – also known as “Authorised Push Payment” fraud should now get a refund in five working days from their bank or payment provider.