How long does an online loan transfer take to your bank account?

Who I am
Marie-Ange Demory

Author and references

This is a very common question among users, and is that, depending on the bank from which it is transferred, the day and the time, the wire transfers may require for a few minutes to five working days. To find out how long a transfer from online loans to your bank account takes, read on!

Know how long it takes to make an effective Bank transfer it is very convenient when applying for loans. This way you can make sure the money arrives on time.

How long does it take for an online loan transfer to my bank account?


    How long does an online loan transfer take to my bank account?

    Well, this depends on several factors. By law, credit institutions must make the transfer on a working day, i.e. between Monday and Friday, taking into account holidays.

    You can put and see Google Calendar on your PC desktop so that you have a clear idea of ​​the days passing at that moment.

    It is important to clarify that banks have a "limit time". That is, if the account movement is made after this time, the money will be effective for the next day. This schedule will depend on the issuing bank, although normally the cut-off time is in the afternoon.

    So if you applied for a loan and it was approved in the afternoon. It is entirely possible that the bank's time limit has already passed. That is, the transfer will be done for the next day. Furthermore, if it is different banks, this procedure will take another 24 hours. Therefore, you will receive your money after 48 business hours.

    Most companies and lenders offer you the money within minutes. However, this refers to the submission and approval of the loan application. The time it takes for your money to take effect will depend on the banks. Therefore, How long does it take for an online loan transfer to my bank account?

    Time depending on the type of transfer

    As mentioned above, depending on the type of transfer, it may take more or less time for the money to clear. Government money such as ISSSTE loans and all types of personal loans, as well as in the case of rewards such as the Worker Bonus, are delayed longer than necessary.

    Here it is explained How long does an online loan transfer take to my bank account?

    Transaction between the same banks

    These types of transfers are the ones that take the least time to reach their destination. Being the same bank, the operation does not have to go through the Bank of Spain, so it is carried out immediately. Thus, the beneficiary receives his money within minutes.

    Banks have a bandwidth system and internet connection according to their needs, different from a local network. Depending on how many megabytes your internet connection has, obviously its speed will be higher.

    With this service you can send money to all SEPA countries almost immediately . This transaction usually takes no more than ten minutes to take effect. However, it comes at a cost, even if it usually doesn't exceed €1 per trade.

    Likewise, it has a maximum amount of 5.000 euros per day or 15.000 euros per month. Normally, financial companies do not use this type of transfer when sending loans to users.

    Order of movements of funds

    This is an urgent transfer, also called OMF. Normally, transactions between different banks usually take 24 hours if both banks are located in the country.

    If for reasons of force you need to transfer money to an account in another bank, but you need to do it immediately, you must apply for a funds movement order.

    Likewise, this must be approved by the Bank of Spain and must be done by 4 in the afternoon. It is important to know that these types of transactions involve an additional amount which will be awarded based on the amount of money you send.

    Like the previous type of wire transfers, lenders usually don't use this one modality. Therefore, if you want to apply for an urgent loan, you have to make your predictions.

    Bank transfers between different banks

    If it is not an immediate transfer between different banks, the time required for it to become effective will be 24-48 working hours. These types of movements are characterized by having a "cut-off time", if made after this time, you must wait for the next working day.

    Before applying for a loan, you must take into account the day you will do it and the time taken by each transfer. This way you will know how long it takes to transfer the online loan to your bank account.

    add a comment of How long does an online loan transfer take to your bank account?
    Comment sent successfully! We will review it in the next few hours.