Banks currently still process during office hours, meaning neither at weekends, nor labour days or during off hours. In case a transfer is initiated on a Friday night, it will be processed Monday morning. IF the user exceeds his limit by an ATM withdrawal during the weekend, the bank will cancel the open Friday payment. Without telling anyone, btw. That’s odd, but the nature of the bank transfer.
Usually the payer is not aware of this process, hence in case a payment has not been received, you should -first of all- try to clarify with your customer directly.
It might happen, that fraudsters are taking advantage of this gap, too. So, our advice, don’t take a wire transfer for granted and include these transactions into your reconciliation process.
Depends at which Banking Institute you have your settlement bank account, you could use our automated matching service.