The most common scheme that is used for transfers is SEPA payments. SEPA payments are cleared within the same day if the payment is done before noon, while payments that made afternoon are cleared the next day.
The SEPA Instant Credit Transfer Scheme was introduced recently and went live in November 2017. With SCT Instant, depending on your financial institution, it takes 10-30 seconds to transfer funds from debtor to beneficiary accounts.
Sending money within the UK via Faster Payments usually takes less than two hours to clear in the recipient's bank account. Regardless of whether you are sending or receiving via Faster Payments scheme, the money will clear by the end of the following business day at the latest.
Another scheme wamo supports for GBP transfers is BACS. They’re mainly used for transfers that are worth over 250,000 GBP. BACS payments take 3 working days to clear.
Regardless of the currency, SWIFT payments take 3 days before the funds are cleared by the receiving bank.