How to make a bank transfer: duration, procedures, limits

Fast and very convenient to set up, bank transfer is one of the most common methods for transferring money from one account to another. But faced with the wide range of possibilities, it is not always easy to find your way around. Between the different types of transfers available, the information to enter, the procedures to follow... This guide explains in detail How do you make a bank transfer easily, whether online, in a branch, by mail or via your phone.

Bank transfer in a nutshell

✔️ A bank transfer allows you to transfer money between two accounts.

✔️ It can be carried out online, In agency banking, by mail, or by SMS.

✔️ The bank details are essential to issue a bank transfer order.

✔️ The processing time of a bank transfer is variable : 10 to 20 seconds for an instant transfer, 1 to 3 days for a classic transfer, 4 to 5 days for a bank transfer SWIFT.

✔️ Of frisk may apply depending on the type of transfer made, in particular to international transfers outside the SEPA zone.

❌ A bank transfer is irrevocable after execution, but a transaction that is still “pending” may be cancelled.

What is a bank transfer?

A bank transfer is an operation that consists of transfer money from one bank account to another:

➡️ Or between two accounts held by the same person (from one current account to another, or to a joint account, a savings account, a life insurance contract, etc.);

➡️ Or from one person's account, to that of another beneficiary. We thus distinguish “the creditor”, or “debtor” (the one who issues the transfer) and the “creditor”, or “beneficiary” (the one who receives the transfer).

This transaction can be completed online, In agency, by mail or By phone, and different types of transfers are possible:

The internal bank transfer, or intra-bank, carried out between two accounts domiciled in the same bank (whether they are accounts of the same person, or two separate user accounts belonging to the same bank);
The external bank transfer, or interbank, made to an account located in another bank (and only between two current accounts);
The one-time transfer, a single transaction carried out on an occasional basis on a specific date;
The permanent bank transfer, or recurring, programmed to be repeated automatically on a fixed date or at a regular frequency (weekly, monthly, annual...) for a constant amount;
The deferred transfer, an occasional transfer recorded to be executed at a later date;
The immediate transfer, or standard, for which the money is instantly withdrawn from the debtor's account, but is only credited to the beneficiary's account once the transfer order has been validated by the bank (generally in 1 to 2 days);
The instant bank transfer, a one-time transfer executed in 10 to 20 seconds between two accounts domiciled in the SEPA zone;
The National bank transfer, or domestic, carried out between two accounts held in the same country;
The SEPA bank transfer, carried out in euros between two accounts of the SEPA area : which includes the 27 countries of the European Union, the member countries of the European Economic Area that are not members of the EU (Iceland, Norway, Liechtenstein), as well as the United Kingdom, Switzerland, Andorra, Andorra, Monaco, Monaco, Monaco, Monaco, Monaco, Monaco, Monaco, Monaco, Monaco, San Marino and the Vatican;
The international bank transfer (excluding SEPA), or bank transfer SWIFT, issued in a currency other than the euro in a country outside the SEPA zone.

What information is required to make a bank transfer order?

Les bank details of the beneficiary are essential to be able to make a transfer. These are the elements found on the RIB (Bank Identity Statement), namely:

The name and first name (if it is an individual) or the company name (for a professional);
Bank name;
THE IBAN (International Bank Account Number): the unique identification number of the bank account;
The SWIFT/BIC (Society for Worldwide Interbank Financial Telecommunication / Bank Identifier Code): the bank identification code.

Note: In general, only the IBAN can be sufficient to make a bank transfer.

How do I make a bank transfer?

Depending on the bank, the transfer order can be given in different ways: remotely on the internet, at the counter (except online banking), by mail, or by SMS (for banks that offer it).

Make a bank transfer online

Using the remote banking service via the internet, or via the mobile application, is of course the simplest solution. In practice, here are the different steps to follow to Make an online bank transfer :

1 ️ Access the customer area online or via the mobile application, using secure login details.

2 ️ Go to the “Transfer” section.

3 ️ ※ Select the account to be debited.

4 ️ Select the account to be credited. If this is the first time a transfer has been made to this account, the operation will first require the addition of the new beneficiary and his characteristics (Name and first name/company name, bank name, bank name, IBAN, Code). SWIFT/BIC). In the vast majority of banks, this operation will involve increased security (confirmation by secret code, validation period imposed before the transfer can be made, etc.).

5 ️ Enter the amount to be transferred (to limit the risks of fraud or scams, the amount is generally limited for an internet bank transfer. Depending on the amount concerned, you may have to ask the bank to increase the ceiling, or carry out the operation in a branch).

6 ️ Add a reference (optional) to provide details to the beneficiary (it may be an invoice number in connection with the payment, for example).

7 ️ Choose the execution date. It is at this stage that it is possible to choose the option instant bank transfer (if the bank offers this service) or to schedule a deferred or recurring transfer (specifying the frequency and the period during which the transfer will be effective).

8 ️ Verify transaction details Before confirm the transfer order. As a precaution, banks generally ask the creditor to confirm their identity and validate the transaction using a secure procedure (by asking to enter a secret code dedicated to sensitive transactions, for example, or by means of a notification to be validated via the application, etc.).

9 ️ ※ One bank transfer notification is addressed to the debtor and to the beneficiary of the transaction.

Make a bank transfer

A bank transfer can always be made in a branch (except online banking that does not have premises, of course). To do this, simply go At the bank counter provided with an identity document and all the information necessary for the transaction (bank details of the credit account and the beneficiary account). Once the transfer order form has been completed, the bank advisor gives a bank transfer certificate as a receipt, certifying that the transaction has been initiated. For security reasons, it is recommended to keep this certificate until the beneficiary has successfully received the funds.

A transfer order can also be made On a vending machine. But this possibility is limited to the execution of a transfer between two accounts held by the same person within the bank. To do this, simply insert your bank card into the ATM, select the “transfer” service, then choose the accounts to be debited and credited as well as the amount to be transferred. The transaction is then immediate.

Make a transfer via secure messaging

If you have trouble making an online transfer, you can contact your bank advisor via the secure messaging of your banking application, on a smartphone, tablet or computer. You can specify the IBAN by attaching a RIB. Indicate how much you want to send. In general, your advisor will be able to make the transfer by himself. You can make a phone call to your agency to ask them to complete the order you sent by email.

Make a bank transfer by mail

Although this method is being used less and less, it is also possible to perform a bank transfer by mail. The letter sent to the bank must include the signature of the issuer and include all the information required for the transfer, namely:

The name and surname, or the company name of the recipient of the transfer;
The bank details of the creditor and the beneficiary (IBAN and BIC/SWIFT);
The amount to be transferred;
The date of the transfer and its recurrence (punctual or permanent).

As a precaution, it is recommended to send this letter by registered letter with acknowledgement of receipt and to keep a copy of all the documents sent.

Make a transfer by SMS

To facilitate the sending of small amounts of money in euros, some banks offer the possibility of issuing a free SMS transfer (via the mobile payment solution” Paylib with friends ”, in particular). In the banking application, simply go to the “Transfer” section, enter the beneficiary's mobile number and the amount to be transferred. For their part, the recipient must simply send their RIB using the link indicated in the text message, in order to receive the funds.

Making an international bank transfer: what are the specificities?

Within the SEPA area, transactions in euros are simplified and harmonized. Sending money to this zone is finally as easy as carrying out a national bank transaction. There are three types of SEPA payments:

SEPA bank transfer, generally used for one-off payments;
Instant SEPA transfer, which allows you to send up to €100,000 in a few seconds;
The SEPA Direct Debit, often used for recurring payments (electricity contract, internet subscriptions...).

For Make an international bank transfer (outside the SEPA zone), the procedure and the information to be transmitted are the same as for the SEPA transfer. That is to say, all the elements appearing on the beneficiary's RIB: identity, IBAN, BIC/SWIFT. However, the bank will often ask for additional information (address of the beneficiary, justification of the origin and destination of the funds, etc.), in particular in the context of the fight against money laundering and the financing of terrorism.

But the major difference between an international bank transfer and a SEPA, or national bank transfer, is mainly due to costs associated with the transaction, often very expensive due to the costs of execution and currency conversion.

This type of transfer also requires a longer transfer time, generally between 4 and 5 working days and a visit to an agency is generally required.
To reduce these constraints, international transfer platforms have been created. This system reduces the cost and time of transfers and saves you from going to an agency to sign a transfer mandate. SWIFT.

1) Wise

Formerly Transferwise, Wise is the leading company in the field of international money exchanges. The service is also sometimes directly integrated into your bank (this is the case of the N26 bank, which executes international transfers with this solution)

The advantage of Wise is that money is sent very quickly, currency conversion fees are very low, and you can send money in any currency.

2) XE.com

Like Wise, Xe offers international money transfer services. The fees are a bit higher than TransferWise. They also offer a great conversion tool that allows you to know the exchange rates: https://www.xe.com/currencyconverter/

3) Western Union

A globally recognized company, Western Union allows you to send money abroad by transfer to a bank account or directly in cash to a Western Union branch.

What is the maximum amount for a bank transfer?

The regulations do not impose any ceiling for a bank transfer, except for the instant SEPA transfer, which must not exceed €100,000. But in practice and for security reasons, almost all banks set their own limits. This may be a maximum amount per transaction, per period, or a limited number of bank transfers over a given period of time (week, month, etc.).

The ceilings are therefore extremely variables from one bank to another and generally amount to a few thousand euros on average in traditional banks, and much more in online banks.
To make a very large transfer, most banks allow you to increase the maximum limit, temporarily, or permanently. To do this, you must contact your bank and make a Request to change the ceiling. For really very high amounts, adjustment will not always be possible. The bank transfer must then be carried out in several operations, or directly in a branch, through a bank advisor (the only one authorized to carry out the control and security measures necessary for very high transactions).

How long does a bank transfer take?

The deadline for a bank transfer is variable and depends on the type of transfer used and when it is made (business day and hour, or not). An internal transfer is generally immediate. National or SEPA transfers will take between 1 and 3 days, and for a bank transfer SWIFT 4 to 5 days will be required for its execution.

✔️ Internal transfer: immediate or a few hours

✔️ Domestic transfer: 1 day

✔️ SEPA transfer: 1 to 3 days

✔️ SEPA instant transfer : 10 to 20 seconds

✔️ International bank transfer (excluding SEPA): 4 to 5 days

What are the fees for a bank transfer?

The fees for a bank transfer vary from one bank to another and depend on the type of transfer executed. In the vast majority of cases, standard internal and SEPA transfers (made online) are free. In an agency, the operation is carried out for a few euros.

The SEPA instant bank transfer is still billed in most banks (€1 per transaction, on average). But from 2025 and in accordance with the new European regulations, all banks will have to offer an instant transfer service, the price of which must be in line with that of the traditional transfer. However, in France, a standard bank transfer is almost always free.

For a international bank transfer SWIFT, on the other hand, the prices are much higher. The overall transaction price is very often high, because banks apply transmission and reception costs (often expressed as a percentage of the transfer amount) in addition to exchange fees linked to the conversion into another currency.

Can we cancel a bank transfer?

In principle, A bank transfer is irrevocable. Cancellation is not possible once the transfer order has been executed. In fact, it depends on the type of transfer made:

❌ One instant bank transfer is irreversible, without exception.

✔️ A one-time transfer is cancellable if the transfer order has not yet been processed by the bank. It is necessary to intervene quickly, as long as the status of the transfer appears to be “pending”.

✔️ A delayed one-time transfer allows more leeway. Cancellation is possible up to the day before the execution date.

✔️ A permanent bank transfer can be modified or cancelled at any time and at the latest 1 day before the next due date.