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UK local funds transfers: how long do they really take?

Active Member
James H Member Since: Sep 2, 2015
1 of 7
I am keen to cut out Paypal and so the local funds transfers appealed to me. As other locals may know, almost everything in the UK is now done with the FPS system where funds can take up to 2 hours to arrive from when they're sent. I often hear stories from senders asking me to "check with my bank" and I have done this a few times - each time, the response is the same - "it goes directly to your account the moment it comes in". Anyway, I was shocked to learn that after waiting 2-3 weeks for clients to release money and Upwork to hold on to it, there is now another ~10 day delay doing a transfer?? I transfered it on 31/08 and I got an email stating it would be there by 08/09. Upwork say it's outside their control and they don't know why this is. Can any other members here tell me if this is normal, if the given dates are accurate and why it might take so long?
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Community Guru
Petra R Member Since: Aug 3, 2011
2 of 7

James, please remember that those "2 hours" you mention are for transfers within the UK, NOT international transfers from the USA or other countries...

 

When I do a LFT from Upwork to my Royal Bank of Scotland account on a Wednesday I see the money on a Saturday, usually (95 times out of 100)

 

It only takes longer when there are holidays in the US - in those cases it did take until the next Tuesday, twice I think.

 

A friend banks with Barclays and seems to get hers on the Friday when she withdraws on a Wednesday.

 

The date you were given was a "worst case scenario" - once the money leaves Upwork's bank they no longer have any control over it

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Community Guru
Hanna N Member Since: Jun 17, 2015
3 of 7

I use Barclays and it takes between 2-5 days for me. I think it depends a bit on possible holidays at both ends. 

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Active Member
James H Member Since: Sep 2, 2015
4 of 7
Thanks, Petra & Hanna. It seems then that "local funds transfer" is not the correct term to use as it's an internatioanl funds transfer.
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Community Guru
Petra R Member Since: Aug 3, 2011
5 of 7


@James H wrote:
Thanks, Petra & Hanna. It seems then that "local funds transfer" is not the correct term to use as it's an internatioanl funds transfer.

 

With the funds coming from the USA I never thought of it as anything other than "international" to be honest

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Active Member
James H Member Since: Sep 2, 2015
6 of 7
It was received today, so 4 working days in total. The statement shows it's a Giro credit, so it's not an international transfer after all, it's just on the old (slow) system that almost nobody is still using.
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Community Guru
Petra R Member Since: Aug 3, 2011
7 of 7

Withdrawals come from Upwork's US bank account, and go through intermediaries to your bank account. I have no idea how this could possibly not be an international transfer?

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