Q:

How long does a telegraphic transfer take?

A:

Quick Answer

It takes about two business days for money sent by telegraphic transfer to reach the receiving bank. Individual banks may take longer to credit the money to a customer's account after they receive it. In some countries, the transfer time is longer.

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Full Answer

The phrase "telegraphic transfer" used to refer to Telex or cable messages sent between banks to bring about the transfer of money. The phrase is still used in the United Kingdom and British Commonwealth when referring to international money transfers, even though these types of transfers are now done electronically. Telegraphic transfers can be completed with a variety of currencies and are one of the safest ways to transfer money internationally.

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