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How long does a bank transfer take with Starling?
Just opened a new bank account with Starling? One of the first things you’ll want to know is how to send a payment - and crucially, how long it takes.
In this guide, we’ll run through how long a bank transfer typically takes with Starling. This includes both UK transfers and international payments. Plus, a few details on an alternative that could work out both quicker and cheaper - the Wise multi-currency account.
But first, let’s get you set up to make your first bank transfer with Starling.
Things you need to make a bank transfer with Starling
To set up a bank transfer with Starling, you’ll need to provide the following details¹
- The name of the recipient’s account
- The recipient’s bank account number and sort code
- The amount you’d like to send
- For international payments, you’ll need the recipient’s International Bank Account Number (IBAN) and the SWIFT/BIC code for their bank. You can find the IBAN by entering the recipient’s account details and country here.
How long does a bank transfer take with Starling?
Most bank transfers with Starling are sent using the Faster Payments Service (FPS). This is a real-time payments system which offers a free and fast way of sending and receiving money within the UK.
Starling bank transfers sent with Faster Payments can arrive instantly, although in some cases it can take up to two hours².
International payments work in a different way. Starling will usually send your payment via SWIFT, which can take between one and three working days³ depending on the country you’re sending to.
You’ll be given an estimated delivery date when you set up your payment using the Starling banking app.
Isn’t a bank transfer instant?
The whole point of Faster Payments is to ensure transfers arrive almost instantly, or within a matter of minutes.
But there are some situations in which bank transfers can take longer. Here are a few examples:
- If the bank you’re sending to isn’t part of the Faster Payments Service - most but not all UK banks are.
- If you’re sending a payment outside the UK.
- If extra security checks are needed⁴ - this can happen if there’s confusion over the identity of the sender or mistakes in the recipient’s account details.
Are there any faster international money transfer options?
If you need a quicker way to send money overseas, Wise is the ideal alternative - and it could save you money too.
Send money internationally with Wise and your payment could arrive in a matter of hours, depending on the country and currency. Payments with Wise take a maximum of 2 days, but it’s often much quicker⁵.
What’s more, Wise only charges small upfront transfer fees, and guarantees you the real, mid-market exchange rate. This could make it much cheaper compared to using your bank.
How do I make a transfer with Wise?
It’s super easy to send money worldwide with Wise. Follow these steps⁶:
- Sign up for a Wise multi-currency account.
- Tap in the amount you’d like to send.
- Fill in your details.
- Fill in the recipient’s bank details (or email address if you don’t have bank details).
- Add a reference for your payment (optional).
- Choose your transfer type and how you’d like to pay - using your bank account is usually the cheapest.
- Check the details and confirm. And that’s it!
Sources used for this article:
- Faster Payments - how faster payments work
- Starling Bank - guide to faster payments
- Starling Bank - when will my international transfer arrive
- GoCardless- faster payments explained
- Wise - how long does a transfer take with Wise
- Wise - how do I send money with Wise
Sources checked on 16-05-2022.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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