Last updated: 11th December, 2020
Can I transfer money on a weekend?
Wanting to send money on a Saturday, but not sure when it will arrive? Read our guide to sending money over the weekend.
Sometimes you need to send money urgently on a weekend. Maybe your child is abroad and needs a top-up. Perhaps you’re working in Spain and need to send money to your family back home. Or maybe you’ve got a mortgage payment due and you need to transfer the funds to cover it. Below, we cover the options available to you.
Online or phone banking
Do money transfers go through on weekends?
If you have online or phone banking, you can send money to other Spanish bank accounts 24/7, even on weekends and bank holidays. As long as your bank uses Faster Payments (which most do nowadays), your recipient should get their money within two hours of your transfer. The great thing about sending money online or via phone banking is that it’s quick, easy and convenient – you can do it within minutes from the comfort of your home.
When sending money through a bank, it takes longer to transfer to an overseas account. International transfers take up to five working days to clear. Some banks offer an express option, which can get your money there by the next working day. The fees for an express service are more expensive.
Does money transfer on bank holidays?
You can use online or phone banking to transfer money into Spanish bank accounts on bank holidays. International transfers only happen on working days. So, if you’ve set up a payment to come out on a bank holiday, it will arrive the next business day.
High street banks
Do banks transfer money on weekends?
You may be able to go into your bank to transfer money on a weekend, but many Spanish banks are closed on Saturdays or close early (ING closes at 14pm), and are closed on Sundays and bank holidays.
With international transfers, going into your high street bank is the same as using online or phone banking. The payment will take up to five working days to go through, or will arrive the next working day if you ask your bank to arrange an express transfer. You could pay up to EUR25* to transfer funds overseas, even if you’re only sending a small amount of money.
Digital money transfer apps
Alternatively, you can use a digital money transfer app to send money. Money transfer apps can let you send money at the weekend, but how quickly the money arrives in the recipient’s account depends on the banking system in the country you’re sending it to. If their banks are closed on weekends and public holidays, the money will arrive the next working day.
PagoFX by Santander gives you a way to make international transfers at any time – including at weekends. Though, as clearing systems are closed at the weekend any payments arranged on Saturday, Sunday or on bank holidays will likely arrive on the next working day. During working weeks, the majority of PagoFX payments will arrive within an hour and all payments should arrive in fewer than 24 hours if you confirm the transaction before the cut-off time. You can find the cut-off times here.
As well as fast transfer times, PagoFX gives you a full breakdown of its low costs before you press send. You also get the real-time exchange rate which is the same rate, with no mark-up, that you’ll find on Google, Reuters or Bloomberg. As it’s backed by Santander you know you’re getting bank-level security without needing a Santander bank account. Just visit the App Store or Google Play to get started today.
Disclaimer: This article is provided as general information purposes only, and is not intended to cover all aspects of the topic. We recommend that you take professional and specialised advice before taking, or refraining from, any action based on the content of this publication, as this article is not intended to constitute expert advice. We do not guarantee, explicitly or implicitly, that the content of this article is accurate, complete or up-to-date. The information in this article does not constitute legal, tax or other professional advice from PagoFX or its affiliates.