How long does bank review take?

The time required for bank review varies depending on various factors, generally 1-10 working days, including the specific bank's policy, the complexity of the review, and the completeness and accuracy of the required information.

The following are some common review time ranges:

Regular review:

Personal remittance: Usually takes 1-3 working days, the specific time depends on the bank's work process and workload.

Corporate remittance: May take 1-5 working days, especially when involving large amounts of funds or cross-border transactions, the review time may be longer.

Complex review:

High-risk transactions: If the bank considers that the transaction has potential risks, such as large remittances, frequent cross-border transactions, etc., the review time may be extended to 1-2 weeks.

Incomplete or incorrect information: If the submitted information is incomplete or incorrect, the bank will require supplementation or correction of the information, which will extend the review time, and the specific time depends on the speed of information supplementation.

Compliance and anti-money laundering review:

Compliance check: Review time involving compliance and anti-money laundering checks is usually longer, may take 1-2 weeks, depending on the complexity of the transaction and relevant regulatory requirements.

Additional information requirements: If the bank requires additional information or further explanation, the review time may be further extended, and the specific time depends on the complexity of the required information and submission speed.

Emergency situations:

Priority processing: In some cases, if the remittance is very urgent, you can request the bank to prioritize processing. The bank may complete the review within 1 working day, but this usually requires paying additional fees.

To shorten the review time as much as possible, it is recommended to submit the remittance request:

Ensure that all necessary information is complete and accurate.

Actively maintain communication with BiyaPay to understand the review progress.

Respond promptly to any requests from BiyaPay for additional information or further information.

In short, bank review time may range from a few days to several weeks, and the specific time depends on various factors. When encountering review, timely submission of complete and accurate information and maintaining good communication are key to accelerating the review speed.