Do Bank Transfers Go Through on Weekends?

Europe & CIS By Western Union July 9, 2024

It’s a Saturday, and your child calls you from university needing money for an urgent book purchase. You also receive a call from your employee, telling you that you’ve run out of supplies for an order due to leave by the afternoon. You need to send money to your child and supplier quickly, so you log into your banking app, set up the transfers, and confirm.
But do bank transfers go through on weekends? We’ll guide you through everything you need to know about bank transfers on weekends and bank holidays. Understanding how different payment methods work can help you avoid delays and make sure your money gets where it needs to go on time.

In this article

• What is a bank transfer?
• Do bank transfers go through on weekends?
• Do banks process payments on bank holidays UK?
• Payments banks can’t process over the weekend and bank holidays
• FAQs about bank transfers on weekends

What is a bank transfer?

A bank transfer is a method of sending money directly from one bank account to another. You can complete a bank transfer by visiting your bank’s branch or conveniently on a mobile banking app. Bank transfers can be done through various ways, including Faster Payments, Bacs, CHAPS, and international payments.

How long does bank transfer take to clear?

Knowing how long do bank transfers take depends on the bank transfer method you use.
• Faster Payments, or instant bank transfers, typically take a few seconds to two hours.
• CHAPS payments are same-day transfers if completed before the cut-off time.
• Bacs payments usually take three working days.
• International payments can take anywhere from one to five working days.

Do bank transfers go through on weekends?

Whether a bank transfer goes through on weekends depends on your bank and the type of payment method chosen. Some methods allow transfers on weekends, while others don’t.

Faster Payments

Faster Payments is a service that enables near-instant transfers between UK bank accounts. Most UK banks support Faster Payments 24/7. This means that if you need to transfer money quickly on a weekend or bank holiday, Faster Payments is your best option.

Bacs

Bankers Automated Clearing System payments, or Bacs payments, are used primarily for direct debits and standing orders. These transfers typically take three working days to complete and do not process on weekends. If you initiate a Bacs payment on a Friday, it will not begin processing until the next Monday, excluding bank holidays.

CHAPS

Clearing House Automated Payment System (CHAPS) is used for high-value, same-day transfers within the UK. CHAPS payments are only processed during business hours on weekdays. If you need to send a CHAPS payment on a Friday evening, processing won’t begin until the next business day, which will be Monday unless it is a bank holiday.

International bank transfers

International bank transfers can be initiated at any time, either in person or through your money transfer app, but they are only processed on business days. This means if you send an international transfer on a weekend or bank holiday, it won’t be processed until the next business day.
When sending money internationally, you need to consider time zones and differing weekend times in other countries. For example, a transfer sent on a Friday in the UK may not be processed until Sunday or Monday in countries where the banks’ weekend falls on Friday and Saturday, like the UAE. You also need to be aware of bank holidays in both the sending and receiving countries to avoid delays.

Do banks process payments on bank holidays UK?

In the UK, banks do not process Bacs, CHAPS, and international payments on bank holidays, which is why public holidays are known as ‘bank holidays’. If you need to send money to a bank account, it’s crucial to schedule your transfers around bank holidays to avoid any delays.
To help you plan, here’s a list of UK bank holidays in 2024:
• New Year’s Day: January 1
• Good Friday: March 29
• Easter Monday: April 1
• Early May Bank Holiday: May 6
• Spring Bank Holiday: May 27
• Summer Bank Holiday: August 26
• Christmas Day: December 25
• Boxing Day: December 26

Payments banks can’t process over the weekend and bank holidays

Banks can’t process standing orders, direct debits, and salary payments over the weekend and bank holidays. These types of payments require processing during standard business hours on working days. If scheduled on a weekend or bank holiday, these payments will be delayed until the next business day.
To avoid payment delays for standing orders and direct debits, make sure to schedule them on regular business days, ideally a few days before the weekend or holiday. This ensures your payments will always be processed on time.
As an employer, ensure your payroll schedule aligns with bank working days. This way, your employees will always receive their salaries on time.

FAQs about bank transfers on weekends

Do bank transfers go through on Saturdays?

Some bank transfers, like Faster Payments, will go through on Saturdays. Other methods like Bacs and CHAPS do not process on weekends and will wait until the next business day.

Are Bacs processed on Saturdays?

No, Bacs payments are not processed on Saturdays. Bacs transactions require three working days. Any payments initiated on a Saturday will begin processing on the next working day, typically Monday.

Are UK bank transfers instant on weekends?

Yes, UK bank transfers can be instant on weekends if you use the Faster Payments service. Most UK banks support Faster Payments 24/7, ensuring near-instant transfers even on weekends and bank holidays.