Delays and opening hours
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There are controlled time delays for certain actions in the Union Registry that you as an account holder or account representative should be aware of.
Time delays affect:
- How long it takes to make a transfer to another account
- At what times during the day and week and year as transfers are carried out
- The processing time for an application to open or register a representative in an account.
26 hours delay of transfer completion
For security reasons, all transfers have a delayed delivery time of 26 hours.
However, there are exceptions to the rule. A transfer from a trading account to a trusted account has no 26-hour delay but is completed immediately.
Transfers are only completed during working hours (10:00 - 16:00 CET). Transfers that are approved outside working hours are therefore completed at. 10:00 CET the next working day.
TRANSFER FROM | TO TRUSTED ACCOUNT | TO OTHER ACCOUNTS |
Holding account | 26-hour delay on transfer delivery. No approval by additional authorised representative is required but required if one is registered on the account. | Not allowed. |
Trading account | No 26-hour delay on transfer delivery. No approval of additional authorised representative is required unless the account holder chooses have one on the account. | 26-hour delay. An additional authorised representative must approve the transfer. |
Transfer
- If a transfer is initiated from a person holding account, operator account or aircraft operator account to an account in the trusted account list, delivery will be 26 hours from signing, or approving by an additional authorised representative if registered in the account.
- If a transfer is initiated from a trading account to an account that is not in the trusted account list, delivery will take place 26 hours after signing, or approving by an additional authorised representative.
- If a transfer is initiated from a trading account to an account listed in the trusted account list, delivery will be effected immediately after signing, or approved by an additional authorized representative.