The time it takes for funds to reflect in your account depends on the currency and the transfer method used. Note: All timelines below are calculated in business days, which exclude weekends and public holidays except for Interac e-Transfers which are available every day and are typically instant.
For Canadian Dollars (CAD):
Interac e-Transfer Auto Deposit: Instantly or within minutes.
EFT or Wire (SWIFT): Within 1 business day.
Pre-Authorized Debits (PAD): Typically within 3 to 5 business days. You’ll receive an email with the estimated arrival date.
For US Dollars (USD):
ACH or Fedwire or Wire (SWIFT): Within 1 business day.
For British Pound Sterling (GBP):
Wire (SWIFT): Within 1 business day.
For Euros (EUR):
SEPA or Wire (SWIFT): Within 1 business day.
Note: Intermediary or traditional banks who are sending those funds on your behalf to us at Venn may place temporary holds during processing. We won’t have insight into these holds or their causes of these external banks. As soon as the funds reach us successfully, they are credited to your Venn account right away. As the receiving bank, we credit funds to your account as soon as they are successfully received. If you’re expecting a payment but haven’t received it, the key question is whether the sender’s bank has successfully sent and completed the transfer.