Wire transfers themselves are instantaneous. With that being said, there is manual processing on both ends of the process. First, when we send the wire request to our bank, it has to run through the wire department to ensure all information is received, that the banking indication is correct, and that there is no fraud present. Depending on how business the bank is, this may take a few minutes or a couple of hours.
Next, once the funds are received by the bank for the person the wire is being sent to, the receiving bank needs to run it through its checks, apply it to the bank account, etc. Again, this can take anywhere from a few minutes to a couple of hours.
Because of these two processes, wires may be received shortly after we send it or may not appear for four (4) or more hours. Furthermore, each bank sets its own rules for the cutoff time for both sending and receiving wires. We don't know your bank's cutoffs, or we may be limited by the time we receive funds from the buyer or lender.
As such, exactly when a wire The rule, however, is that as long as it's set before cutoffs, it will appear in your account that same day. That's why we can say by the end of the first business day following closing, but we know many times it will be even sooner. Our goal is always to underpromise and over delivery instead of make commitments we may not be able to meet due to the third party factors involved in wire timing.