How long does it take to pay for a payment order? Banking operational day at Sberbank for legal entities

In the article we will talk about how long it takes for money to arrive in the current account of Sberbank and other banks. Let's find out what deadlines the law sets and in what cases the translation may be delayed. We will talk about foreign currency payments, as well as ruble transfers from cards and between current accounts of different banks.

How long does it take to transfer to a current account?

For businesses, the speed of bank transfers is an extremely important parameter of banking services. How long it takes to process the payment determines how long it will take for the goods to be shipped or work on the order to begin.

In fact, it is almost impossible to unequivocally answer the question of how long it takes to send funds to an account. A lot depends on the nature of the transaction, the payer and recipient banks, etc. For example, within one credit institution, money usually arrives within a few seconds after sending a payment order, while a payment sent to another branch or bank can no longer be called instant.

The law establishes the bank's obligation to credit funds no later than the day following receipt of payment from another financial institution. The situation is similar with sending: the payment must be sent maximum the next day after the order is processed by the sending bank. But the process itself often involves multiple financial institutions, resulting in longer payment processing times.

It usually does not specify how long it takes for the money to arrive in the organization’s current account. Typically, ruble transfers are credited to the recipient’s account on the same or the next banking day, provided there are no errors in the documents. The maximum period can be up to 5 days, but such a long period is rare under standard conditions.

The situation with foreign currency payments is much more complicated. On average, they reach the recipient within two days (working days). But this time can increase significantly if there are errors in the documents accompanying the transaction, and it is not always possible to detect them at the initial stage of sending the transfer.

How long does it take for money to reach a Sberbank current account?

Among business representatives it is one of the largest credit institutions. Entrepreneurs and firms are ready to put up with some of the shortcomings of service at Sberbank, because in return they receive increased reliability and reduced risks. But large transactions may depend on how quickly money arrives in the Sberbank current account, and you need to take into account in advance that several situations are possible:

The ruble payment was sent from the same regional branch of Sberbank. If the transaction is completed during the business day, then the recipient receives the money during the same day, and if sent in the evening, in the morning of the next business day.

A transfer in rubles was sent from another regional branch of Sberbank or a third-party bank. It usually arrives early the next day. Only in some cases, when sending a payment in the morning, the recipient sees the money on the account in the afternoon.

Currency payment sent. This case is the most difficult, as it largely depends on the sending bank. Sometimes even its employees cannot tell you how much money goes to Sberbank in this case. However, this operation usually takes 2 working days and only in exceptional cases takes up to a week.

How much does money go from a current account to the current account of different banks?

There are no standards regulating the speed of transferring money between accounts in different banks. In many ways, how long it takes money to transfer from a current account to a current account depends on the specific credit institutions involved in the settlements. Ruble payments usually arrive within a few hours, maximum in the morning of the next business day, and foreign currency payments within 2 business days.

How long does it take for money to arrive on the card from the current account?

A transfer to a card from a bank account may be needed in various situations, for example, when paying salaries to employees or withdrawing an entrepreneur’s own funds. Within one bank, such operations usually take place within a few hours. Money sent in the morning arrives on the card by lunchtime. Only sometimes funds are credited on the next banking day.

Transfers between different banks take a little longer. In most cases, funds become available the same day or at most the next day. But sometimes the operation can last up to 5 days due to the peculiarities of interaction between banks and payment processing by the processing center.

Speed ​​in modern conditions is the main advantage for business. Therefore, when making bank transfers, you need to take into account the timing of transferring money between banks. It is desirable that this time interval be minimal.

Also, individual users who send funds from their accounts want to minimize the time required for this operation. After all, sometimes you need money very urgently, for example, you need treatment or other life situations that do not imply delay.

Transfers within the region

The fastest transfers are within one region. The approximate time for crediting to another bank's account when sending through a cashier is limited to the next settlement day. It depends on the financial institution's operating pattern. All payments are grouped at the end of the day into one payment document.

Money transfer

In the postoperative period, such documents are collected for sending to the main branch.

They are then automatically sent to the recipient's bank through the electronic payment system (EPS).

Amounts may reach the correspondent account of the recipient's bank late on the same day or at the beginning of the next business day. Then the transactions are redistributed to specific branches of the recipient bank. This may also take some time, especially if the number of such operations is quite large.

Transfers outside the regions

A more common type of transfer is sending money to the current accounts of other banks registered in another financial region. It takes a little more time to get through this financial information. The bank's head office is involved here, in addition to regional divisions. Therefore, on average, the time for transferring money between banks in this case can reach up to two business days.

International transfers

When sending money abroad, from your foreign currency account to a foreign currency account in another country, it takes up to three days. This limit depends on the correspondent banks participating in the transaction. After all, money is first debited from the balance of the sending client, then passes from the accounts of the sending bank to the correspondent accounts of German or American intermediaries, and only lastly from their balances is credited to the receiving bank and then goes to the user’s balance.

International transfers

In all international transactions, currency control of such transfers is carried out at several stages.

Therefore, such an operation also takes some time.

Card transactions

Card transactions can be called faster. Debiting from the balance and crediting using the Visa or MaserCard systems is carried out between different banks from several minutes to several hours. But you need to know that if the operation is carried out in different currencies, then the adjusted exchange rate difference may be written off from the sender within two business days.

All banks have their own checkout and cash service hours. The payment day at Sberbank lasts exactly as long as the operation of the electronic systems lasts. Today, a specific service schedule can be established for each client, and for those who use payment systems, transactions can be carried out around the clock.

Payment order execution deadline

Banking institutions establish their own rules for accepting and processing payments. However, if we are talking about protected expense items, then their consideration and processing has clear deadlines, as well as payments marked “urgent”.

Each representative office has its own work schedule; accordingly, the central branch of Sberbank works seven days a week. By going to the website of the representative offices, you can familiarize yourself with the specific work schedule of each of them. In addition, there is information according to which you can find out contact numbers in a specific city or select the closest office.

According to the operating regulations, Sberbank processes payments that were processed in accordance with established standards. In particular, payments are executed on business days, except weekends and holidays. You can find out how long it takes for Sberbank to process payment orders directly from the person with whom the service contract was concluded or from a bank representative.

The internal rules of the bank set the processing time for payment orders

Thus, the execution of financial documents received from the client is carried out on the basis of documents received by the bank:

• in paper form – from 9:00 to 15:00;
• in electronic form from 09:00 to 17:00, and on Fridays and pre-holidays processing is carried out from 09:00 to 16:00.

All instructions for processing payments are carried out within two days after the documents are received by the bank.

It is worth noting that a payment day in Sberbank is a period of time during which the institution can operate. The moment the electronic payment system opens marks the beginning of the working day. As soon as such systems cease their activities, the bank payment working day also ends. During this period of time, a variety of transactions may occur that are within the competence of Sberbank.

Rules for processing urgent payments

They can be considered by the bank for a certain specified period. Payments that have the status of “urgent payment” are reviewed by Sberbank instantly. They, as a rule, are marked “urgent”; they can be carried out even after the end of the operating time, in accordance with a certain list of currencies and if there is a limit on the amount established on the bank client’s account.

It is also worth noting that Sberbank introduced innovations for its corporate clients by offering them payment processing time (for corporations only). Thus, those users who exchange financial documents through the Sberbank Business Online system have every chance to use the time from 07:00 to 23:00; the ability to use time both on weekends and on holidays has also been introduced.

Thus, the introduction of information technology allows you to put your business on stream, thereby expanding its boundaries and not depending on time frames.

For corporate clients, the processing time for payment orders is reduced

Innovation in the modern banking world

Working in Sberbank’s “business online” software in real time is not difficult, since the clear and convenient interface developed by the bank’s specialists will allow you to carry out a lot of operations without wasting time on traveling and signing copious amounts of paperwork.
There are many advantages to working with an electronic system, but the urgent payment option is especially beneficial, thanks to which clients can make transactions on their account around the clock.

By sending a request to the bank to transfer funds, the client authorizes it to carry out a money transfer operation in accordance with the details specified in this document. Such an operation must be carried out within a certain period of time. The validity period of a payment order is also limited by law. In this article we will look at the regulatory regulation of these deadlines.

Payment order execution deadline

In order to understand the procedures for the credit institution to fulfill the payer’s request to transfer funds, it is necessary to distinguish between:

• deadline for execution of the order;
• the period when the payment order is valid.

The deadline for the execution of the payment document in question is the period of time during which the credit institution is obliged to carry out the operation of transferring the payer’s funds. This period is established by Art. 31 of the Federal Law of December 2, 1990. The bank is obliged to execute the order no later than one business day after receiving the payment document. Determining the length of the operating day is the prerogative of the bank. For late execution of an order, the bank will be required to pay interest.

The specified period does not coincide with how long the payment order is valid. The period of time corresponding to this period is regulated by other norms of legislation and will be discussed below.

It is important to note that the deadline for the execution of tax payments is regulated by a separate rule of law.

After receiving a client’s request to transfer money, the credit institution carries out a number of procedures, including:

• confirmation of rights to use funds;
• checking the integrity of the order;
• checking the order details;
• checking the availability of funds required for transfer.

The payer has the right to revoke a payment order if the time for irrevocability of the transfer has not yet arrived.

How many days is a payment order valid?

Now let’s consider another period of time, namely the validity period of the payment document for the transfer of funds.

It is normatively established that a payment order is valid for ten days from the date following the day of its preparation. This period is calculated not in working days, but in calendar days (clause 5.5 of the Transfer Rules approved by the Bank of Russia on June 19, 2012).

For example, a payment order was drawn up on January 10, 2017. In order to answer the question of how long a payment order is valid from the specified date, you should calculate ten calendar days starting from January 11, 2017. The relevant date is January 20, 2017. Therefore, this order can be presented to the bank for execution no later than January 20, 2017 (inclusive). If the order is submitted later, the bank will not be able to execute it due to the expiration of the deadline.

Thus, the payer, if he has information that the validity period of the payment order is ten days, has the opportunity to determine the date of presentation of the specified document for execution within the specified period.