September 7, 2006 at 2:15 pm
#704891
Inactive
For me here in New Zealand …
Bank Transfers from anywhere (Antigua, Gibraltar, Ireland, England, Malta) will be processed in 1-2 days.
Foreign denominated cheques are credited overnight – but the bank has the right to reverse for up to 42 days if required.
But NZ’s banking system is small, fast and up to date – we have overnight processing for nearly all deposited items and domestic repudiation must be done in 5 days.
As I remember it the US and UK have a mish-mash of systems and interfaces, and no centralised clearing exchange … so things are bi-lateral everywhere.
Still – SWIFT transfers do not need much manual processing if done properly (with correct details) so I would have said 3-5 days maximum.