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  1. #1


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    I put a deposit on an apartment by wire transfer. The money was debited two days ago,I have not heard from the owner. It is a referal so I am not too concerned yet with time differences etc. but by tommorow I will be a little concerned. Is this normal? RR

  2. #2


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    You don't say from where to where the transfer was made but it does vary from country to country and depends which banks were used. I got a wire transfer from Australia to England 'instantly' - it arrived the same day. Generally when bank transfers are done from the USA to England, I find it takes 5 - 7 days to show up yet I recently did a Euro transfer from one Euro country to another (supposedly straightforward) Ireland to Austria and it took 2 weeks in cyberspace (or in the coffers of the Austrian bank). I think the delay is probably 'normal'.

  3. #3
    My experience (all in Italy) has been that it can take a week between the time the transfer is debited from your account (in my case, Citibank) and credited to the receiving account.

  4. #4
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    Originally posted by Marian:
    My experience (all in Italy) has been that it can take a week between the time the transfer is debited from your account (in my case, Citibank) and credited to the receiving account.
    Said like a banker! And the amount received by the beneficiary may be slightly different if the bank(s) take out the chunk(s) of commission(s) in which case the apartment owner may see a credit for an amount that was not expected and take time to have this figured out with the bank... This is where good communication between the Sender and the Beneficiary would help since if there is a delay in confirming receipt the delay may be quite justified.

  5. #5
    Wow. I worked in the Middle East and I would wire money from my bank there to my bank in the States. The money was out of my account there and into my Stateside account before I got home from the bank. I can't believe it takes over a day at the most.. I live and learn.

  6. #6
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    Tom, I worked in this field for 45 years.

    If you wire money from elsewhere to Canada and specify a value date, that value date will apply as the date the account of the beneficiary will be credited. Ditto if the account is held with any major U.S. bank in a major U.S. money centre.

    Unfortunately, not all national clearing systems work as well. At least in my times (i.e. until about 15 months ago ), if I wired money to a European country other than UK or to an American bank which is not directly a Head Office or located in a big money centre, it would have taken more because of various "relay stations" where branches are involved (and in the U.S. you may not have branches but various small banks operating within a well defined teritory of a Federal Reserve regional bank).

    Also the European banks insist that they provide better service if the sender indicates the account of the beneficiary in the IBAN format, which was created so as to specify in machine readable format the entire path to the beneficiary's account including the country, the bank, the branch and the account number. Alas, IBAN -like any international standard- is voluntary and the North American banking does not apply it as a rule, but if you take an IBAN to the International Banking Centre of a major American or Canadian bank they may find somebody around who know what this is. Let me be clear: this is not a criticism but the stating of the fact that IBAN has not penetrated yet to the level at which it did in Europe.

    When I had to make wire (SWIFT) transfers for the rental of an apartment in Italy, the apartment owner sent me the IBAN and I made sure my bank knew how and where to place it in the wire transfer. Even then, because of whatever arrangements exist in Italy, it took some time until the apartment owner could verify that the funds were indeed in his account, less the 15 Euro commission his bank took (which I reimbursed the owner when we did the final cost tally, and that was on top of my commission payment here which amounted to about CAD40).

    Where salaries are involved, that usually works much better because these are more or less standing instructions transmitted in large files. What I said above is relevant to individual money transfers, not to repetitive transactions.

  7. #7
    When I had to make wire (SWIFT) transfers for the rental of an apartment in Italy, the apartment owner sent me the IBAN and I made sure my bank knew how and where to place it in the wire transfer. Even then, because of whatever arrangements exist in Italy, it took some time until the apartment owner could verify that the funds were indeed in his account,
    Exactly! This is what happened in my three experiences. (And of course there is the extra step before any transfer takes place: Your bank takes your $ and buys the Euros before the transfer takes place.)

  8. #8


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    In my experience, it generally takes a week or more for the money to hit the recipient's account in Italy. I wouldn't panic yet .

  9. #9
    I live in Italy, and when i wire money from my own US account into my own Italian account it often takes as long as 10 days before the money is credited to my italian account.

  10. #10


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    I just completed a wire transfer for my apartment rental in Paris next July. My banker had a little problem with the IBAN number, at first. When she attempted to make the transfer, she received a response that the given number was not applicable for the bank and the city that was on the form.

    I contacted the apartment owners in the US, they re-sent the IBAN number to me. It was identical to the one they had given me before for the bank. I passed that very same number along to my banker, again...and voila! It worked. Go figure.

    This was on Monday. I received confirmation from the owners on Thursday that the EEE's had been transferred.

    This was a transaction from my bank, RBC, to a bank in Paris. That's really fast, I thought!

    "You know that bank I used to cry all the way to? I bought it." ~ Liberace
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  11. #11
    knowing ,doing this all my life, depends on the clearing system for each country.
    My latest experiences are from and to US -Spain -France. money is in my account in 72 hrs.

    However, it can happens, i get customers in France sending payment that takes 4 days to hit our company account.in country!

    so do not panic, just wait a couple days then call in and ask.calmly.

  12. #12
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    When I did a transfer from the UK to Italy for a rental deposit, the renter wanted a fax of the copy of the transfer order form. She was happy with that as a confirmation that I had sent the money as she said the actual time it could take varied hugely. (Fax is no longer very common in the UK, so luckily my husband had the facility at his office but it was a bit of a palaver)So much simpler with credit cards.

  13. #13


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    Money recieved today one week it total after I sent it from my bank. RR

  14. #14
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    Originally posted by Robert Rainey:
    Money recieved today one week it total after I sent it from my bank. RR
    Bingo!!!

  15. #15


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    The point is that some banks in Italy have direct correspondents in US and some not.

    Ask your banker (if in Italy) if your Italian bank has a direct correspondent in the states.

    One of my recurrent customers is from France -whenever she decides to pay me...but that is another story- with the IBAN number her monay are transferred within 2 days, same with SWIFT.

    From USA the accounts that I take care of will receive money within 3-4 working days.

    Other people sending me wires from the states in other ways took as long as 2 weeks.

    I got to tell you that the little banks that have no correspondent banks in Italy, and are not used to this kind of transactions usually have no clue with what to do with the IBAN, SWIFT BAC or ABI number, so more than one time people had to send back the same wire that was "floating" back and forth from here to there.

    One week is pretty standard,I think.
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