How long does it takes to get a payment to my bank in local currency?

The time it takes for a payment to be sent internationally can vary based on the payment method, the destination country, and the banks involved.

When you select to receive money in your local currency, the conversion happens before sending the money internationally from a U.S. bank account, the process and timelines are more straightforward. Here’s how it works for SWIFT and wire transfers, considering that ACH is not commonly used for international transfers:

SWIFT Transfers:
- 1-5 Business Days: SWIFT transfers in the local currency can take between 1 to 5 business days. The process involves sending the converted amount directly to the recipient's bank.
- Direct Transfer: Since the currency conversion is done beforehand, the transfer is initiated in the local currency, which can simplify the process.
Wire Transfers:
- Same Day to 3-5 Business Days: Wire transfers in the local currency can take typically 1-3 business days. For transfers involving multiple intermediary banks or less common destinations, it can take 3-5 business days.
- Direct Transfer: Similar to SWIFT, the transfer is initiated in the local currency after conversion, which can streamline the process.

Factors Affecting Transfer Time:

Bank Processing Times: Different banks have varying processing times and cut-off times for initiating transfers.
Time Zones: The time difference between the sender's and recipient's countries can affect processing times.
Holidays and Weekends: Banks do not process transfers on weekends or holidays, which can add to the transfer time.
Regulatory Requirements: Some countries have strict regulations that can delay the transfer process.

Tips to Speed Up the Process:

Provide Accurate Information: Ensure all recipient details (e.g., bank account number, SWIFT code) are correct.
Check Bank Hours: Initiate the transfer during bank hours to avoid delays.

Additional Considerations:

Exchange Rates: Ensure you are aware of the exchange rate used for the currency conversion to understand the final amount being sent.
Intermediary Banks: Some transfers may go through intermediary banks, which can add to the processing time and fees.