SWIFT and USD payment rails, with same day support for broker payouts

Understanding Cut Off Times

Every wire has a daily cut off, the deadline by which it needs to be submitted to process that same business day. Cut offs exist because a payment needs time to clear compliance and sanctions screening and be transmitted before the relevant settlement system's own operating window closes for the day. Miss the cut off and your payment queues for the next business day, which matters most around Fridays and public holidays, since a payment submitted Friday afternoon after cut off may not settle until the following Monday or Tuesday, depending on the destination. We publish our specific cut off times, by currency and destination, on the Fees & Charges page, and flag the relevant cut off in the app before you confirm a time sensitive wire.

Why Some Wires Take Longer Than Others

A wire between two banks with a direct correspondent relationship, in a major currency corridor like USD to a large US or European bank, will generally settle same day or next day. A wire to a bank without a direct relationship needs to route through one or more intermediary banks, each adding processing time and, in some cases, a small deduction from the transferred amount. We will flag when a destination is likely to require intermediary routing before you confirm the wire, so there are no surprises about timing.