One of the main attractions of online personal loans is the possibility of having the money in the account in less than half an hour since the process begins (application + confirmation), but this option can be altered when requesting a loan the end of week. Like many other sectors, the financial sector slows down on Saturdays and Sundays, which means that the deadlines for receiving the money can last up to 48 hours. Except for exceptional situations, this wait is a consequence of the schedules of the bank receiving the online credit.
As for the fast credits of Currency Now, the usual thing is that the payment is made in just a few minutes. Although due to bank hours, there may be cases in which it is delayed, especially on weekends.
Delays when requesting a loan over the weekend, why?
The modus operandi of Currency Now, 100% online and with the help of a last generation algorithm capable of valuing thousands of data in a few minutes, makes it possible to receive money at any time of the day or night, regardless of whether it is Saturday or Sunday. As we said lines back, it is the operation of the bank where the urgent loan is entered that ultimately determines when we will collect it.
On the other hand, the European payment system, called TARGET, which only works on business days, also influences the payment period. They fit all the countries belonging to the SEPA zone (Single Europayments Area – Single Payments Area), which are the 28 states that make up the European Economic Area and Switzerland, San Marino, Monaco, Lietchestein, Norway and Iceland.
Spanish banks conform to the European payment system, called TARGET, which is not operational or holidays or weekends
By law, the payment of an electronic transfer in dollars within this area is one business day from the date of dispatch of the issuer, from 2012 onwards. But it can happen that this shipment occurs on Saturday, Sunday or holiday, non-business days, which will cause delays in the payment when requesting a loan on the weekend.
Add that all entities have a cut-off time
Which is not always the same, after which the transfer is received the next business day. Therefore, if you have not received your fast online credit within a few minutes of being approved, you will most likely have it in your account in the first hours of the next morning.
If you have not received your fast online credit within a few minutes of being approved, you will most likely have it in your account in the early hours of the next morning.