Timing International Money Transfers: When to Send Funds

What Is the Best Time of Day to Transfer Money Internationally?

The best time of day to transfer money internationally can change based on several things. These include your payment method, the currency markets, and the hours when your bank or money transfer service is open. Usually, doing your international payments during regular business hours in the UK, from 9:00 AM to 5:00 PM, can help you get same-day processing. This timing may also give you better exchange rates.

How Does Timing Affect Exchange Rates?

The foreign exchange market (Forex) operates day and night, Monday to Friday. The largest exchange rate movements often occur when various markets overlap.

• London & New York sessions overlap: This happens from 1:00 PM to 4:00 PM UK time.
• London & Tokyo sessions overlap: This takes place in the early morning, around 8:00 AM UK time.

During these times, currency conversion occurs more frequently. You may find it easier to get competitive rates, especially for major currency pairs like GBP/USD or EUR/USD.

What Days Are Best for International Money Transfers?

Transfers can happen on any weekday. However, most people find that Tuesdays to Thursdays are the best days for several reasons:

• Mondays can be busy because of weekend closures.
• Fridays may cause delays, especially for bank transfers.
• Mid-week often has more money available and fewer public holidays happening globally.

Some providers might not change their foreign exchange rates much on weekends. This can result in a markup or a forward contract being used, instead of the current rate.

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What Affects the Speed of an International Money Transfer?

The speed of your money transfer to the receiving bank can be affected by several things:

• A transfer method (like SWIFT, SEPA, or real-time settlement)
• Business days and bank holidays for both the sender’s and recipient’s countries
• Security checks on large or strange transfers
• If the bank account details are complete, including BIC, SWIFT, and account number
• The payment method being used — wire transfer, debit card, or online transfer service

Transfers that happen early in the day, before cut-off times, usually arrive faster.

Should I Watch the Exchange Rate Before Transferring?

Yes, exchange rate fluctuations can make a big difference, especially for larger transfers. If you time your transfer when the currency’s value decreases or when a country’s interest rate goes up, you can get a better deal.

If you need to send money in the coming weeks, you can use tools like:

• Get alerts from your provider
• A forward contract to lock in the current rate
• Updates about major worldwide events or global economic trends that affect the international market

Many people and financial institutions use these methods to gain from their foreign currency transfers.

Does Time Zone Matter for International Transfers?

Absolutely. Time zones impact:

• When your transfer service begins processing.
• The updates on currency exchange availability.
• How fast the funds reach the receiving bank.

If you are sending money from the UK to Europe, Italy, or the United States (USD), make sure to check the local business hours. This will help ensure that your transfer goes smoothly. If you send money late in the day, it may not be picked up until the next business day in the country that is receiving the money.

Should I Avoid Sending Money on Weekends?

It’s a good idea to wait until after the weekend to make transfers. This is true unless your provider can process transactions quickly. Here’s the reason why:

• Currency exchange services may not display the latest rates.
• Transfers usually wait until Monday.
• You may not use secure messaging systems like SWIFT until the markets reopen.

Tips for Good Timing When Sending International Payments

• Send early in the day: This improves your chances of getting same-day delivery.
• Avoid Fridays: This prevents delays that can happen due to weekend processing.
• Use alerts: Watch for changes in currency markets.
• Plan larger transfers: Try to schedule these around mid-week for better rates.
• Check public holidays: Be aware of holidays in the UK and the destination country.
• Compare rates: Look at various providers to reduce transfer fees and find better timings.

Correct as of 17 April 2025

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