When will my international transfer arrive? (SWIFT)

🌎 New in Holvi! Now you can now send and receive euros and 17 other currencies via SWIFT. 

Most SWIFT transfers arrive on the same business day – many within the hour. Exact timing depends on factors like bank cut-off times, intermediary banks, and the destination country. Please allow up to 5 business days in some cases. 

This guide explains how SWIFT transfers work, why delays can happen, and what to do if your money hasn’t arrived.

Jump to section

• How SWIFT transfers work

• What affects delivery times

• Tracking your international payments

• I’m expecting money – but it hasn’t arrived in my account

• I sent money – but it hasn’t arrived in the recipient’s account

How SWIFT transfers work

Think of a SWIFT transfer like a flight with layovers. Instead of traveling directly from your account to the recipient’s, the money often passes through one or more intermediary (correspondent) banks.

Each bank in this chain checks and processes the payment before sending it on. This is standard for international banking and explains why these transfers take longer than domestic ones.

What affects delivery times

Several factors can influence when your money arrives:

• Destination country – Banking rules, regulations, and infrastructure vary. Some regions process payments faster than others.

• Time zones & bank holidays – Each bank only processes transfers during its local business hours. If your transfer hits a cut-off time, weekend, or public holiday, it waits until the next business day.

• Compliance checks – To prevent fraud and money laundering, banks must run security screenings. If your transfer is flagged for review, it may take longer.

• Incorrect details – A typo in the recipient’s name, IBAN, or SWIFT/BIC can cause rejections or returns.

• Currency conversion – Transfers involving exchange add an extra processing step.

Tracking your international payments

When you send an international payment from Holvi, you can track its progress directly in your account. You’ll also get a push notification on your phone when the payment is delivered.

How to check your payment status

Statuses:

• Payment delivery in progress: Your funds have left your Holvi account and are moving through the banking network.
• Payment delivered: The money has arrived at your recipient’s bank. You’ll also receive a push notification when this happens.
• Payment delivery rejected: Your payment was sent, but the recipient’s bank was unable to accept it. When this happens, the funds are typically returned to your Holvi account.

When the payment is delivered, you may also see an "Amount received" field. This shows the exact amount that was credited to your recipient. This can sometimes be less than what you sent, because banks along the way may deduct their own processing fees.

How long do international payments take?

Good to know

I’m expecting money – but it hasn’t arrived in my account

Mainly Holvi only sees incoming funds once they reach us. We can track payments only to some extent with a payment receipt.

What to do: 

1. Confirm your details with the sender
   Ensure you gave the sender the correct details:
   • Your full account name
   • Your Holvi IBAN
   • Our BIC/SWIFT code: HOLVFIHH
   • Our address
2. Wait 5 full banking days
   Most transfers complete in this time.
3. The sender should reach out to their own bank for further investigations
   Often the sending bank can locate the payment. Most of the time the payment has returned to the sending bank if the payment has not arrived to Holvi
4. Contact us with the MT103
   If the payment is still missing, please provide us with the complete MT103 document. Without it, tracing international payments is unfortunately nearly impossible. The sender will need to request this from their bank.

I sent money – but it hasn’t arrived in the recipient’s account 

What to do: 

1. Review all details
   Carefully check the recipient's account number, SWIFT/BIC code, full name, and address. Every detail must be perfectly accurate for international transfers.
2. Wait at least 5 banking days
   The SWIFT network is complex. Please allow five full banking days before assuming the payment is lost.
3. Request the SWIFT confirmation (MT103)
   If the payment is still missing after 5 days, contact us to request the MT103 document. This is the universal "passport" for a SWIFT transfer. Send this document to your recipient, as it's the most powerful tool for their bank to trace the funds.
4. Initiate a Trace
   If the payment is still missing after 7-10 banking days, contact us to request an official trace. Please be aware that these investigations can take several weeks.