How long does the transfer take depending on the bank?
People all over the world make millions of transfers every day. This form of money transfer is becoming more and more popular and more and more often it is used by employers. We are often surprised why for others the payment to our bank account appears on the first of every month, and to us, for example, on the second day. What it depends on? How long does the transfer take?
Internal transfer
If we make transfers to internal accounts, we do not have to worry about the time of their delivery. Internal transfers are performed almost immediately after placing the order, and this is due to the fact that they are carried out in real time. Therefore, if your employer has an account in the same bank as you, you can count on the payment on the same day as the transfer.
How long does an external transfer take?
External transfers are those sent between different banks. In such a case, the intermediary is KIR - Krajowa Izba Rozliczeniowa, which operates the interbank clearing system in the ELIXIR program.
How long does the transfer take between different banks? The time of making the transfer depends on the time of its submission. Individual banks have outgoing and incoming sessions at different times, and in addition, one should remember about the intermediary - KIR - who also conducts such sessions at fixed times. Importantly, interbank transfers are made only on weekdays.
There are 3 sessions in the ELIXIR system, during which transactions made up to an hour earlier are settled.
Session execution dates depend on the time of day:
- morning session - 09:30 - 11:00,
- noon session - 13:30 - 15:00,
- afternoon session - 16:00 - 17:30.
To be sure about the hours of outgoing and incoming sessions, it is best to check this information on the bank's home page. Below we present the session hours at selected banks:
|
Bank |
Outbound sessions | ||
|---|---|---|---|
|
in the morning |
South |
afternoon
| |
|
Alior Bank |
9:30 |
13:30 |
16:00 |
|
BGŻ Bank |
8:00 |
8:00-11:45 |
11:45-14:15 |
|
Bank Millennium |
10:30-11:00 |
14:30-15:00 |
17:00-17:30 |
|
BZ WBK |
08:15 |
12:15 |
14:45 |
|
ING Bank Śląski |
8:10 |
11:30 |
14:30 |
|
PKO BP |
8:00 |
11:45 |
14:30 |
|
mBank |
5:55 |
9:55 |
13:25 |
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|
Bank |
Inbound sessions | ||
|---|---|---|---|
|
in the morning |
South |
afternoon | |
|
Alior Bank |
11:00-12:00 |
15:00-15:30 |
17:00-17:30 |
|
BGŻ Bank |
11:00-12:00 |
14:30-15:00 |
17:00-18:00
|
|
Bank Millennium |
until 12:00 |
until 15:30 |
until 17:15 |
|
BZ WBK |
08:00-18:00 |
08:00-18:00 |
08:00-18:00 |
|
ING Bank Śląski |
11:00 |
15:00 |
17:30 |
|
PKO BP |
11:30 |
15:10 |
17:30 |
|
mBank |
11:15 |
15:00 |
18:15 |
Read more about bank transfers:
Incorrect transfer - how to recover funds?
How to recover an incorrect transfer - new possibilities
Transfer to an account not indicated on the official list - white list
Transfer to an account outside the list of VAT payers - what are the consequences?
With high transactions, for an amount exceeding PLN 1 million, you can use the SORBNET system, which transfers transfers in real time. However, the price for the service starts from PLN 40 for one transaction. If you would like to speed up the execution of the transfer, it is possible, obtaining such an additional option depends on individual banks. The so-called Express transfers involve additional fees, and their prices range from PLN 1 to PLN 15 for an instant transaction.
Quick payments in the wfirima.pl system
By using the wfirma.pl system, the entrepreneur can optimize the payments made for expenses, taxes and social security as well as payments received for invoices issued, which is possible thanks to the integration of the system with Blue Media. Settlement of payments becomes faster and easier thanks to the automatic settlement of payments made or received.
Blue Media integration gives you the option to pay for a single expense or a basket of expenses through the PAY function, available in the EXPENSES »ACCOUNTING tab. After making the payment on the wfirma.pl side, the payment will be automatically added to the cost invoice and the invoice status will change to settled. The details of the function are described in the article: Quick payments for expenses
It is also possible to make quick payments for taxes and ZUS contributions in the appropriate tab: START »ZUS» SETTLEMENT DECLARATIONS or START »TAXES» INCOME TAX / VAT / ANNUAL TAX), where you should select the generated declaration and then select PAY.
More information on the integration of the system in the company with Blue Media is explained in the article: Integration with Blue Media - how to activate it?
