Wire Transfer Cut-off Times by Bank

Wire transfers move money in real time, but only during the hours when the underlying settlement system is open and the originating bank is accepting requests. The published bank cutoff is almost always earlier than the underlying system's actual close. Here is a working reference for the major banks across the US, UK, Canada, Australia, India, and the Philippines.

Cutoff times change. Banks revise their schedules during system upgrades, regulatory transitions, and sometimes seasonally. Check the current schedule on each bank's wire transfer page before sending a high-value or time-critical wire.

US banks: domestic Fedwire and international SWIFT

Domestic US wires settle through Fedwire Funds Service, operated by the Federal Reserve. International wires route through SWIFT, with one or more correspondent banks in between. Each bank publishes separate cutoffs for the two.

The Fedwire system itself closes at 7:00 PM ET for customer transfers (the third-party limit) and 7:30 PM ET for interbank transfers. Banks set earlier cutoffs to allow processing time for fraud screening, OFAC checks, and exception handling. The online cutoff is binding if you are submitting through digital channels.

A wire originated after the bank's published cutoff will be processed the next Federal Reserve banking day. The wire is debited from your account on origination, but the receiving bank does not see the funds until next-day settlement.

UK banks: CHAPS for high-value, Faster Payments for retail

UK same-day wires use CHAPS (Clearing House Automated Payment System), settled through the Bank of England's RTGS service. CHAPS runs 6:00 AM to 6:00 PM London time on Bank of England banking days. Banks set earlier customer cutoffs.

For lower-value sterling transfers, Faster Payments (FPS) is the better choice. FPS runs 24/7 with near-instant settlement, but with a per-transaction limit (currently £1 million for most participants). Most personal-account wires under that limit will route via FPS unless you specifically request CHAPS.

Canada: LVTS and the Wire Payment System

Canadian wires settle through Lynx (the new Large Value Transfer System replacement that went live in 2021), operated by Payments Canada. Lynx runs 12:30 AM to 6:30 PM ET on banking days.

Australia: RITS and the New Payments Platform

Australian wires settle through RITS (Reserve Bank Information and Transfer System) for high-value transfers. The Reserve Bank of Australia operates RITS during business hours on banking days.

The New Payments Platform (NPP) handles instant low-value AUD transfers around the clock, with PayID/PayTo as the addressing layer. NPP is the right choice for most retail transfers and many small business payments; reserve RITS wires for high-value transfers and contexts requiring same-day RTGS finality.

India: RTGS and SWIFT

Domestic high-value wires in India settle through RTGS (Real-Time Gross Settlement), operated by the Reserve Bank of India. RTGS runs 24/7 since December 2020.

NEFT (National Electronic Funds Transfer) is the lower-value alternative, also available 24/7, settling in half-hourly batches. UPI handles most retail person-to-person and merchant payments instantly, around the clock.

Philippines: PhilPaSS and InstaPay

The Philippine high-value clearing system is PhilPaSS (Philippine Payment and Settlement System), operated by Bangko Sentral ng Pilipinas (BSP). PhilPaSS runs 8:30 AM to 5:00 PM PHT on BSP banking days.

InstaPay (real-time, lower limit) and PESONet (batch, higher limit) handle most retail and small-business transfers in the Philippines without going through PhilPaSS. International remittance via SWIFT typically goes through one or more correspondent banks, with corridor-specific timing covered in the international remittance settlement times guide.

Working with cutoff times

For a wire that needs to settle on a specific date, work backward:

1. Confirm the destination bank can receive on that date (check for local holidays in the receiving country).
2. Subtract the correspondent bank delay if international (typically one banking day).
3. Submit the wire by the originating bank's online cutoff for the originating banking day.
4. Build in buffer for fraud screening and OFAC compliance review, which can add hours.

To calculate exact send dates, use the Subtract Business Days calculator with the relevant country holiday set. For payroll wires that need to land on payday, see the payroll cut-off guide.

FAQ

What time does Fedwire close?

Fedwire Funds Service closes at 7:00 PM ET for customer transfers and 7:30 PM ET for interbank transfers, but every retail bank sets its own earlier cutoff. Most US retail banks stop accepting outgoing wire requests for same-day settlement between 3:00 PM and 5:00 PM local time. The Fedwire close time is the system maximum, not the customer cutoff.

Why does my bank's online cutoff differ from the branch cutoff?

Banks set earlier cutoffs for online wire submissions to allow time for fraud screening and exception handling. Branch-initiated wires can sometimes be processed up to 30 minutes later because a banker can confirm authorization in person. The online cutoff is the binding deadline if you are using digital banking, even if the branch is still open.

What is CHAPS and how does it differ from BACS?

CHAPS (Clearing House Automated Payment System) is the UK same-day high-value sterling payment system, settled through the Bank of England's RTGS. It runs 6:00 AM to 6:00 PM London time on Bank of England banking days. BACS (Bankers' Automated Clearing Services) is the three-day batch system used for direct debits and most low-value credits. CHAPS is the wire equivalent; BACS is the ACH equivalent.

Are cutoff times the same on Fed holidays?

No. Fedwire is closed entirely on Federal Reserve holidays. Domestic US wires originated on a Fed holiday cannot settle that day; they will queue for the next Fed banking day. International wires routed through correspondent banks may have additional jurisdictional closures. Always verify against the current year's Federal Reserve holiday calendar at federalreserve.gov.