There
are several different factors which affect the amount of time it takes
to wire money. The following are a few of these factors:
The time of day you initiate the process. As a
previous poster pointed out, if you start in the afternoon you may not
get your wire done that day.
The bank you do business with. Not all banks are on
the wire. Smaller banks wire through their correspondent which can add
time to the process.
Which way the money is being wired. If you wire
money from east to west it will be received at an earlier time on the
west coast possibly increasing the chance it will be credited that
day. From west to east is just the opposite.
The competency of the participants in the process.
One time I asked for a wire and the mutual fund company simply forgot
to wire it. They offered their apologies and wired it a day late.
The receiving bank's ability to credit the recipient's account without losing a day in the process.
As you can see there is no fixed answer. However,
generally, you can get money wired and properly credited the same day
or worst case the next day. You would think because large sums of
money are involved and these people do this for a living this process
would work like a well oiled machine. My experience has been that the
well oiled machine is more like a Yugo.
Welcome to the forums. Best of luck to you in your investing.