What Is the Average EFT Payment Processing Time? (2025) (original) (raw)
Electronic funds transfer times vary according to the payment method, country, financial institution and time of payment. In general, the processing time ranges between instant to three business days. If you’re a business owner, knowing how long it takes to process EFT payments can help you decide which payment methods to use and how long to allow for funds to be received.
Average EFT Payment Processing Time by Payment Method and World Region
Electronic funds transfer (EFT) processing times vary among the different kinds of electronic transfers—whether a transfer is a bank transfer, ACH payment, credit or debit card payment, wire transfer, mobile payment, QR-code payment or any one of the ATM transactions offered by a given bank. To help you sort through your options, we’ve included the processing times for the most common EFT transactions that merchants are likely to use.
Domestic Electronic Bank Transfer Times
Electronic bank transfers are faster for intra-bank transfers (performed within the same financial institution) than they are for inter-bank transfers (transfers between different financial institutions). These transfers are sent using a bank account number and routing number and don’t involve the card networks. However, in many cases, a merchant service provider can still process electronic bank transfers on your behalf.
| Countries | Instant Transfer | Same-Day Transfer | Standard Transfer | Cut-Off Times | |
|---|---|---|---|---|---|
| Europe | Single European Payment Area (SEPA) countries | Available in some countries with transfer limits and the payment of an additional fee | Often possible if sent before 2 pm | 1-2 business days | Generally 2 pm |
| United States | United States and Puerto Rico | N/A | Domestic transfer with a value up to €23,000 posted before 10:30 am ET or 2:45 pm ET | 1-3 business days | Varies by bank |
| Canada | Canada | Often available for intra-bank transfers | Subject to cut-off times | 1-3 business days | Varies by bank |
| Australia | Australia | Available with Osko or PayID with transfer limits | Subject to cut-off times | 1-2 business days | Varies by bank |
| China | China | Available 24/7, year-round with the Electronic Bulk Payment System | N/A | N/A | N/A |
| Brazil | Brazil | Available year-round with Pix | TED payments arrive on the same day if sent before 5 pm | DOC payments arrive on the next business day if sent before 10 pm | 5 pm for same-day receipt (TED), 10 pm for next-day receipt (DOC) |
Factors that Affect the Speed of Domestic Electronic Funds Transfers
The speed of EFT transactions from one bank account to another depends on:
- Whether the transfer is internal or between banks
- Whether the transfer is domestic or international
- The amount of money being transferred
- Whether the customer is verified (in the case of Osko and PayID)
- Whether the payment is posted before or after a cut-off time
- Whether the payment is posted on a weekday, weekend or public holiday
Credit Card and Debit Card EFT Payment Processing Times
Credit card and debit card payments processed through a terminal or payment gateway usually take 1 to 2 business days to process. If a customer uses a debit card, the funds will typically be pulled from their account as soon as they make a purchase. When a customer uses a credit card, the funds will typically show as “pending” until the funds are transferred to the merchant. This could take 24 to 48 hours.
Like standard electronic funds transfers between financial institutions, card payments are processed in batches. Transactions that are authenticated before the cut-off time for processing will be received and paid out to the merchant account sooner than those that are authenticated after the cut-off time.
Digital Wallets
Electronic payments made with a digital wallet will have processing times commensurate to the kind of EFT payment used. PayPal and Stripe in the United States, for example, use ACH payments (Automated Clearing House Network payments) to pull funds from their members’ bank accounts and transfer funds to merchants. They also use the ACH network to pay out funds from a member’s in-app balance. Either way, these electronic fund transfers are likely to take 1 to 3 business days.
In contrast, electronic payments made with a linked card via these same fintech providers will be routed through the relevant card network. As a result, it would take 1 to 2 business days (at most) for the merchant to receive the funds in their merchant account.
Peer-to-Peer Payments
Peer-to-peer payments using apps like Venmo and PayPal are usually completed within minutes. When the time comes to withdraw the stored funds into a traditional bank account, however, processing times will be similar to those of electronic bank transfers or instant for an additional fee.
Wire Transfers
A wire transfer is sent individually rather than in batches, which is why it comes with a higher price tag compared to electronic funds transfers. Wire transfers are typically sent and received on the same day, although international wire transfers may take 1 or 2 business days, or sometimes more, to arrive.
Knowing EFT Processing Times Puts You In Control
Whichever electronic payment methods you use and accept, knowing how long each one takes to be completed puts you back in control of your cash flow and helps you plan your spending and the timing of payouts strategically.
If processing bank-to-bank EFT transactions is something that you’d value, make sure it’s offered as one of your payment processor’s merchant services as part of a complete, end-to-end payment processing solution.
FAQs
How long do EFT payments take to process? ›
How long does it take for an EFT (electronic funds transfer) transaction to process? EFT transactions typically take 48 – 72 hours to settle.
How many hours does EFT payment take? ›
EFT payment processing times
| To recipient's Nedbank account | To other banks | |
|---|---|---|
| Monday to Friday Before 16:30 | Instant | Next day |
| Monday to Friday After 16:30 | Instant | Next 2 days |
| Saturdays Before 9:30 | Instant | Received on Monday |
| Saturday and Sundays After 9:30 | Received on Monday | Received on Tuesday |
How long does it take for money to reflect in EFT? ›
Payments are posted to the recipient's account within 2 business days. The transaction date that will reflect on the recipient's transaction history will be the date that the recipient's bank processed the transaction.
How long does payment processing take? ›
Credit and debit card transactions are often processed instantly, but funds can take a few days to clear. ACH or Direct Debit transactions typically take 1-3 business days, while wire transfers are usually processed the same day.
Why do EFT payments take so long? ›
In addition to this, interbank EFT transactions are also subject to certain checks for fraud and risk purposes, and therefore are processed with a 24- to 48-hour delay. The electronic transfer of funds process provides for the money to effectively be kept in suspense until the actual transfer takes place.
How long does it take to run through EFT? ›
To avoid the "Run Through" status, gain at least 200 EXP in raid (by killing or looting) or be in raid for at least 7 minutes before extracting. You do not have to do the maps in any order, they can be done in any fashion as long as you survive.
How long should an electronic money transfer take? ›
ACH debits, such as bill pay or withdrawals, generally take 1-3 days to process, while ACH credits, such as direct deposits or vendor payments, generally take just one day to process. Same-day ACH, which typically requires an additional fee, processes the same business day.
Are EFT funds available immediately? ›
EFT requests entered after 4 p.m. ET will not process until the next business day. Bank wires you submit before 4 p.m. ET are typically available the same day. If you submit your wire request after 4 p.m. ET, the money is typically available the following business day.
How long does it take for EFT to work? ›
EFT is all about bonding with your partner and building better attachments between the two of you. And that may take longer depending on what kind of issues got you to seek EFT in the first place. Still, EFT is considered a short-term therapy because it takes 8-20 sessions to start seeing results.
How long does EFT take to clear? ›
How long it takes for an EFT payment to clear heavily depends on what type of transaction is being performed. Debit card and ATM transactions often clear instantly. ACH transactions typically clear the next day. International transactions might take longer — often two business days.
How fast is time in EFT? ›
Time, in EFT, passes 7x faster than real time. So, for every minute that passes in real life, 7 minutes will have elapsed within the game world.
The best way to check on the status of an EFT payment is by using your business's online banking service. You can log in to your business account and select the “Electronic Funds Transfer (EFT)” option or equivalent, reviewing the EFT's status.
Why is payment processing taking so long? ›
One common reason for the delay in debit card payment processing is the security checks conducted by the card issuer and payment networks. These checks are designed to protect against fraud and unauthorised transactions by verifying the authenticity of the transaction and the identity of the cardholder.
What is the payment processing speed? ›
Payment processing speed is an amount of time involved in receiving a response from the API call to the payment gateway. The entire transaction usually takes no longer than a few seconds.
EFTs can be used to withdraw cash, pay bills, send money to a friend or family member, receive payment from an employer, or make a purchase using a debit or credit card. An EFT transfer can take anywhere from a few seconds to a few days to process.
Can you track an EFT payment? ›
An EFT payment works by digitally moving money from one bank account to another, eliminating the need for physical checks. All EFT transactions are encrypted for security and come with a unique EFT trace number to facilitate tracking.
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Last Updated: 2025-02-12T17:56:27+07:00
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