BANK003 - Bank transfer FAQ

How long will my bank transfer take?

How fast is instant bank transfer?

Instant bank transfer is typically within minutes. Once transferred, the transfer will appear pending in your bank account until they clear it. 

Why do wire and free bank transfer take time?

When transferring money to a bank, you can choose the speed of transfer. When choosing a free transfer option, some countries have faster bank transfer methods than others and so can range up to 14 business days and sometimes more for International. Wires are typically 1-2 business days but can be longer for International. 

Unfortunately, XTRM has no control over the time that bank transfers take or how quickly returns come back to us. We wish we did! Please try to be patient and understand that if you did enter incorrect information, your money will bounce back and be credited to your wallet.

I transferred my money using a free transfer or wire, but it has not arrived.

If you enter the bank details incorrectly, the banks will return them. Unfortunately, the timing of this is 100% out of our control. Once it returns, it will be reflected in your wallet, and you will be alerted by email. You can then delete your old bank, relink a new bank with the correct information, and re-transfer. 

We cannot stop a transfer once it has been sent. Nor can we accelerate a return. We wish we could. 

I read the above, but I want more details.

After you initiate a transfer, there are only 2 outcomes:

1. The bank details are correct, and it will be successful.   

2. The bank details are wrong, and the bank cant match your account, and it will be returned.

Please read these points:

• Of the failed transfers, almost all are caused by entering incorrect bank details. So please be careful when linking. A very few are rejected for compliance reasons.
• In the USA, use the correct ABA routing number for ACH. Some banks have 2, one for ACH and one for WIRE. Please use the one for ACH. If you are not sure, please ask your bank.
  
• We don't know if it has failed until it is returned. There is no way around that. That is the way EFT works.
• Return time takes a few days to a few weeks or sometimes even longer for foreign transfers.
• We can request a bank trace, which often takes longer than waiting for a return.
• Once funds return, we instantly credit the user's wallet and notify them via email of the issue.
• Users with returns need to delete and carefully relink their banks.
• In some cases, we will delete their bank for them.
• Managing companies can delete and relink banks for their customers.

My bank says they didn't receive the transfer.

If your bank denies receipt of the transfer. Please request a SWIFT/MT103 from support@xtrm.com. Providing the MT103 message to the bank assists them in locating the payment and crediting the account. Sometimes the banks receive the transfer but don't apply it to your account, so a call from you is all that is needed to credit your account.