Problem

Delay in transferring funds across borders

Incidence:

A 1994 EU survey revealed that the average time for executing cross-border payments is 4.8 working days. Averages in different member states range from 3 to 8 working days, depending on the country and institution involved. At the individual transaction level, time performance among a sample of 34 sender banks ranged from sme-day execution in eight cases to 21 working days in 2 cases.

Related UN Sustainable Development Goals:
GOAL 9: Industry, Innovation and Infrastructure
Problem Type:
E: Emanations of other problems
Date of last update
04.10.2020 – 22:48 CEST