Even with seamless digital tools like Vban, transfers can occasionally take longer than expected. Here are the most common reasons and what you can do about them.
Common Causes of Transfer Delays
Cut-off Times & Time Zones: Banks and processors often have daily cut-off times (e.g., 5 PM local). If the sender and receiver are in different time zones, the transfer may only process the next business day.
Public Holidays: If banks, clearing houses, or intermediaries in any country are closed due to holidays, transfers will be delayed until they reopen.
Weekends: Many financial networks only process payments on business days. Since weekends differ across countries, this can affect international transfers.
Currency Conversions: Cross-currency transfers can take longer due to exchange and settlement steps. For example:
USD: ~24 hrs
GBP: ~4.5 hrs
EUR: ~12 hrs
Intermediary Institutions: If the sending and receiving banks don’t have a direct link, third parties help route the money. This adds extra time (and sometimes fees).
Missing or Incomplete Documents: Some transfers require ID, tax info, or business documents. Missing details may cause delays or rejection.
Incorrect Details: Wrong account numbers, routing codes, or recipient names can trigger reversals and checks.
Fraud Prevention & Compliance: Banks run security and compliance checks to prevent fraud, which can extend processing times.
Global Events or Disruptions: Natural disasters, political issues, pandemics, or technical outages may slow down payment systems.
What to Do if Your Transfer is Delayed
Track It: Use your Vban app or request a payment reference.
Double-Check: Confirm the recipient’s details and documents are correct.
Mind the Clock: Send transfers before the bank's cut-off time.
Contact Support: Reach out for updates and timelines.
Keep Records: Note dates, receipts, and who you spoke with for easier follow-ups.
Tips to Avoid Future Delays
Use instant transfers or digital wallets where available.
Consider a multi-currency account to skip unnecessary conversions.
Always send before local cut-off times.