The difference between intrabank and interbank transfers

PR Manager

Jan 5, 2024
4 min

If you manage an account with a financial institution, you probably know what a bank transfer is, because you have had to make one. But have you made both intrabank and interbank transfers? Although they sound similar, there are big differences between them, which can determine how you use your own money.

How to understand these operations?

Both an intrabank and interbank transfer refer to a movement of money between two accounts. However, an intrabank transfer, also known as internal transfer or transfer within the same bank, is a transaction made between accounts within the same financial institution.

A common example of an intrabank transfer is when you have an account with an institution such as Blackcatcard and you transfer money to another person who also has a Blackcatcard account. These transfers are almost instant, as the funds remain within the same banking system. They are often used for managing your finances, consolidating funds, or making payments to other accounts or loans held at the same financial institution.

Interbank, on the other hand, involves accounts held at two different financial institutions. For example, if you want to send money from your Blackcatcard account to someone who has an account at another bank. Interbank transfers may take longer to process than intrabank transfers, as they often require communication and coordination between different banks. The specific time it takes for an interbank transfer to be completed can vary depending on the financial institutions involved and the payment methods used.

Interbank transfers are usually made in cases of paying bills to individuals and companies, sending money to friends or relatives both domestically and internationally. Although, of course, some transactions, such as paying bills, can also be intrabank if both parties to the transaction have accounts at the same financial institution.

Advantages of intrabank transfers

Both types of transfers are essential and unavoidable for individuals, businesses and financial institutions to manage their finances and conduct various financial transactions efficiently.

However, considering that interbank transfers generally have slower speeds and higher costs, it is worth taking a look at the potential of intrabank transfers, particularly with Blackcatcard.

First of all, as mentioned above, in an intrabank transfer the processes take place within a single banking system. This means that in an intra-bank transfer, a financial institution such as Blackcatcard already knows both sides of the transaction, as they have already passed their compliance process. If it were interbank, the receiving bank needs information from the sender and to know the purpose of the transaction. Although in the case of an intrabank transfer it is also necessary to indicate the purpose, the process is much more agile and simple, which translates into a faster transaction.

For this reason, you can invite all your friends, family or anyone to whom you frequently transfer money to open an account with Blackcatcard. If you already have an account with our neobank, you know that the process of registering and opening an IBAN account is very simple and free of charge. All you need is internet access and a few minutes to register on our website or mobile app. Taking into account that intrabank transfers in Blackcatcard have no cost or limit, you will have full control of your money to manage it as you wish 24/7.

And if you want to make the most of this offer, here is a trick that will surely be very profitable for you. You can invite as many people as you wish as referrals. Each one of them, who successfully opens a Blackcatcard account and fulfills a simple requirement to spend 1 000 Euros during the first two months, will receive 45 Euros. And you, as a referrer, will get 35 Euros.

Finally, we are working on the expansion of our client network, in order to extend the possibilities of intra-bank transfers. Therefore, we recommend that you keep an eye on our blog for the latest news.


How do you know when a transfer is intrabank or interbank?

Intrabank transfers are made between accounts within the same financial institution, while interbank transfers involve accounts at two different institutions.

Which transfer is more convenient for me?

It depends on the type of transaction you wish to make. Most likely at some point you will need to make both an intra-bank and inter-bank transfer. Therefore, we recommend you open an account with Blackcatcard to enjoy great rewards, free financial products and some of the most competitive rates in the market.

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