When making a bank transfer, users take many factors into account — fees, transfer time, methods of sending funds, and so on. Each factor is important, as it affects convenience, urgency, and cost. Today, we’ll talk about the duration of a bank transfer using the example of sending money between NAB and Commonwealth Bank. In today’s world, where time is a limited resource, it’s important to consider when the recipient will be able to access the funds.
When you transfer money from Commonwealth to NAB or back, the money will usually arrive on the same business day if the transaction took place during business hours, and the next business day if you transfer in the evening and on weekends or holidays.
Therefore, if it’s important for you that the recipient receives the funds on the same day, make sure to initiate the transfer during the banks’ business hours.