How long does it take for inter-bank transfers from ATMs to arrive?

If the transfer is to someone from the same bank, the transfer will arrive in real time. If the transfer is to someone else within the bank, to another person across the bank, or to another person across the bank, the transfer will arrive after 24 hours. Within 24 hours, the customer can use the counter, telephone banking, etc. channel to cancel. Due to the latest anti-fraud transfer regulations, banks will now wait 24 hours for inter-bank transfers to be made using ATM machines.

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There are many methods for transfer settlement, which can be mainly divided into two categories: intra-city settlement and long-distance settlement. Intra-city settlement includes check settlement, payment authorization settlement, intra-city collection and commitment settlement, collection without commitment settlement and limit check settlement, etc. Starting from December 1, 2016, if an individual transfers money to an account with a different name through a bank's self-service teller machine, the funds will arrive within 24 hours. The People's Bank of China issued the "Notice on Matters Concerning Strengthening Payment and Settlement Management to Prevent New Illegal Crimes in Telecom Networks" to comprehensively strengthen the real-name management of accounts, bank card business management and transfer management. It is clarified that from December 1, 2016, individuals who transfer money through self-service teller machines can apply to the card issuing bank to cancel the transfer within 24 hours after the card issuing bank accepts the transfer.

Every transfer settlement business involves the paying account, the receiving account and their respective banks, and is related to the combination of the respective responsibilities, rights and interests of the four parties in this dual economic relationship. In order to properly handle all aspects of economic interest relationships, unified settlement principles must be formulated in accordance with the requirements of objective economic laws for mutual compliance, mutual cooperation and supervision. The "three principles" of transfer settlement that our country has implemented for a long time are: clearing both money and goods; safeguarding the normal rights and interests of both payers and recipients; and no bank advances. After the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China, my country's market economy has developed rapidly. Especially in recent years, the scope of market regulation has gradually expanded, and the methods of commodity transactions, labor supply and demand, and capital allocation have undergone great changes. The settlement principles of the past have been Unable to adapt to the changes in the economic system reform and the requirements of the development of the commodity economy, the bank comprehensively reformed the settlement system in 1989. Banks should abide by the discipline to promptly handle settlement business accepted on the same day. No delays or backlog of settlement vouchers are allowed. Misappropriation is not allowed, and settlement funds between customers and other banks are withheld. Bank drafts and cashier's checks are not allowed to be issued before the payment is fully received. It is not allowed to issue remittance receipts for unfinished remittances. It is not allowed to refuse to accept normal settlement business between customers and other banks.