The secret life of your bank transfers 🕵🏻‍♂️

Admit it. Who hasn’t wanted to understand the mysteries of transfer processing times. Why did your colleague get their salary 5 hours before you? Are your bank details cursed? 😱No, they aren’t — read on to find out why not!

Working days, business days, inter-bank transfers... We thought we’d give you a few more details to let you in on the secrets of your bank transfers. 🤫

There are two types of bank transfer:

• First scenario: it’s simple and stays in the family! These are also called intra-bank transfers. What does that mean? Well, that the two stakeholders have an account at the same bank.
• Second scenario: the two stakeholders have accounts at different banks, so the money goes from one bank to the other. These are also called “inter-bank transfers”.

Even if you suspect it’s no coincidence, it just so happens that your supplier and you both have a Qonto account! This is the ideal scenario because the funds don’t have to leave the bank.

Qonto takes care of everything! When you set up your transfer, we update the balances of the two accounts in real time:

• We debit the amount from Tom’s account,
• and credit André’s account with the same amount.