How Long Does it Take to Transfer Money?

I have wondered that myself many times, how long does it take to transfer money, really?  It seems a little slanted for sure, as the bank gets money instantly but you will have a waiting period of a day or even more.  In the age of electronic banking it seems almost criminal that they can steal your money for twenty four hours when they know darn well it’s there ready in the other account.  None the less, transferring money and the times associated with doing so are going to vary greatly depending on institution and the funds being transferred.

Large, Out of State Checks

Ha, ask yourself “how long does it take to transfer money any way” in this case and you will end up blue in the face from holding your breath.  The last time I deposited a check like this, Wells Fargo held it for over two full weeks. They are one of the worst institutions, I thought US bank was much more reasonable about the situation, only holding the same amount from the same account three days, and this was a check for well over ten thousand.  So know your bank if you need the money now, and if you can take the hit, a bank issuing the check must cash it for you, so going to the back who issued it in the first place is probably the fastest way to transfer that money.


PayPal is great if you will be using the funds online, but it does take a day or two to post to a checking account.  PayPal is a great way for online businesses to take money as PayPal guarantees all transactions.  They only take a modest fee, and are a great company to work with if you are doing transactions from all over, and you don’t really know where the money is coming from or where it is going to.  PayPal is the preferred method of payment for EBay and, and if I buy something online it is with a PayPal account.  Money posted to these accounts shows up near instantly and the security they offer is second to none.

Western Union

The old favorite, having Western Union transfer money for you has been a long standing service offered for many years, pre internet, and they just get better with time.  They are faster now than ever before, and are one of the best and safest ways to send loved ones instant cash from across the nation, state, or what have you.  If you are within hours of the person it may still behoove you to drive it to them, but it is a great way to get emergency money to someone fast.  I don’t recommend it in a national disaster though, there are too many people with the same idea doing it at the same time, and banks and ATMs in Louisiana went out of money from people trying to help loved ones when hurricane Katrina hit.

Leave A Comment...