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How long does it take to transfer funds using the IMT form?

Posted by Rik Rik
Message 1 of 2 3,053 Views
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Re: How long does it take to transfer funds using the IMT form?

Posted by DanaeC DanaeC
Message 2 of 2 3,049 Views

Hi @Rik, thanks for your enquiry. Once the form has been received, our IMT Team will attempt to contact you within 3 - 5 business days to confirm your identity, and the details of the transfer. Please ensure that the number we have recorded on your customer profile is the number that you wish them to call you on.

Once this has been done, the funds would generally be received within 3 - 5 business days for an International Transfer, however this is dependent on the processing times of correspondent banks*, and therefore transfers to some countries can take longer. 

*In some cases it may be necessary for correspondent banks to be utilised to assist in the transfer. As banks do not hold offices in every country, it is necessary to establish reciprocal agreements with a representative bank that may assist in getting the funds transferred successfully to the destination.

If a correspondent bank is needed for assistance in the transfer, they are entitled to charge a fee for their services. Other bank charges and fees are unknown to us and therefore not accounted for in the fees quoted when making the transfer. This could mean that the recipient may receive a lesser amount in their account than what you have sent them. Other bank fees and agent fees are out of our control.

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