Swift Payments
 

Hi, I have sent payments to the US before and normally they get there on the same day. This time I sent it on Thursday and it still has not arrived. Anyone any ideas why this time it still has not got there?

Re: Swift Payments
 

Today is Independence Day - and therefore a public holiday. No banking will occur.

Re: Swift Payments
 

I've been told that all banks are open.

Re: Swift Payments
 

Uh, no. It's a national holiday. Banks don't open on national holidays.

Re: Swift Payments
 

Whoever told you that lied. ..... They are allowed to lie, Ian-stms assured me that is the case. :unsure:

The Federal Reserve Bank has ten national holidays, and most banks follow the Fed's lead and close on the same days the Fed Closes, given that the Fed controls the wire system (which is relevant to the OP's question), and much of the check clearing, even if they did open they couldn't provide all services. That said, Wells Fargo opens on Presidents' Day in February and Columbus day in October.

Re: Swift Payments
 

They can do, but most don't...and it would be pointless as transfers would still be down.

Re: Swift Payments
 

My son works night shifts in IT for a bank doing overnight processing and he likes Federal holidays because inter-bank transfers are down, meaning an easy night.

Re: Swift Payments
 

Ok. Money has not got there today either. Can anyone enlighten me?

Re: Swift Payments
 

It's Saturday.

Anyway why are you bothering with swift you must be losing out compared to something like Xe.com.

Re: Swift Payments
 

My son says it will depend on the bank. For his bank they will now not process the transfers until Monday.

Maybe contact your bank and ask what their schedule is over this weekend.

Re: Swift Payments
 

But the Fed doesn't open on 7/4, and doesn't open on Saturdays. It will be 6am on Monday morning before the clearing computers in New York start processing wires again. Inward wires are currently queued up waiting.

Re: Swift Payments
 

Maybe I mis-understood my son, translating "his bank won't be processing transfers until Monday", but if OP is really worried he should be calling his bank, otherwise wait until Monday since the chances of a payment submitted on Thursday 3rd July arriving the next Federal business day of Monday 7th July is extremely high, imo.

Re: Swift Payments
 

With all due respect to the call center workers, there is more useful information to be had here on BE about the progress of the OP's wire than from a bank call center. :o

Re: Swift Payments
 

Indeed, the money no doubt arrived at its destination. It will not be posted until business opens on monday.

Re: Swift Payments
 

The "wire" may indeed have arrived. .... Where the "money" is is a whole other question, and, quite frankly, as much a philosophical question as a practical one. :unsure: