Payment delivery times depend on the currency, amount, and destination. Below are the typical timelines:
GBP Payments:
Payments below £1,000,000 are processed instantly via the Faster Payments System, with delivery often within seconds. In rare cases, it may take up to 2 hours due to intermediary bank delays.
Payments above £1,000,000 use CHAPS (Clearing House Automated Payment System) and are delivered the same business day if submitted before the cut-off time.
USD Payments: Delivery happens the same day or may take 1-2 working days, depending on processing by both Lync’s partner banks and the recipient’s bank. Payments must be initiated before the 17:45 WAT cut-off.
EUR Payments: Payments through SEPA (Single Euro Payments Area) take 1-2 working days to process.