Payment Processing Times
Volt initiates payments as instant whenever possible
Volt instructs payments as instant whenever possible. However, ultimately the banks might not support instant payments or choose to use a different payment scheme than requested. As a result, not all payments Volt initiates are instant.
Payment schemes vary in processing times. The table below shows the expected time for a payment to be authorised and settled in the beneficiary’s bank account. For non-instant schemes, the indicated days refer to working days (Instant: No). In other words, if you initiate a payment on Thursday and it takes 2 days, you can expect it to arrive on Monday.
The ‘maximum’ represents the cutoff time at which Volt considers a payment as failed if it hasn’t been received.
| Payment scheme | Location | Currency | Instant | Expected | Maximum |
|---|---|---|---|---|---|
| Faster Payments Scheme (FPS) | 🇬🇧 UK | GBP | Yes | Same day | 1 day |
| CHAPS | 🇬🇧 UK | GBP | No | Same day | 3 days |
| BACS | 🇬🇧 UK | GBP | No | 3 days | 5 days |
| SEPA Credit Transfer (SCT) | SEPA | EUR | No | Next day | 8 days |
| SEPA Instant (SCT Inst) | SEPA | EUR | Yes | Within seconds | 1 day |
| SWIFT | Worldwide | any | No | 1 – 3 days | 8 days |
| ELIXIR | 🇵🇱 Poland | PLN | No | 1 – 2 days | 2 days |
| NICS | 🇳🇴 Norway | NOK | No | 1 day | 1 day |
| Pix | 🇧🇷 Brazil | BRL | Yes | Within seconds | Same day |
| PayTo | 🇦🇺 Australia | AUD | Yes | Within seconds | Same day |
| RIX | 🇸🇪 Sweden | SEK | No | 1 day | 1 day |
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