If a person is transferring 5 million dollars from a personal account at one bank into an account at a different bank, how long should it take to receive the monies?
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For such a large amount, a wire transfer of funds will probably be used. Once the wire instructions are received by the originator's bank, and the wire initiated, the transfer should be completed in the matter of a few minutes if both banks are in the U.S., or a few hours to a day or two if the sending bank is outside the U.S.
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For such a large amount, a wire transfer of funds will probably be used. Once the wire instructions are received by the originator's bank, and the wire initiated, the transfer should be completed in the matter of a few minutes if both banks are in the U.S., or a few hours to a day or two if the sending bank is outside the U.S.
