Au, Ag and bimetallic Au/Ag nanoclusters were prepared under similar microwave-irradiated synthesis conditions in aqueous solutions, using BSA as a stabilizer. The nanoclusters exhibited strong fluorescence with characteristic emission spectral peak features that suggested the presence of multiple emissive states in each case. Time-resolved emission studies revealed the very rare incidence of the time-dependent emission Stokes shift in metal nanoclusters over a time-scale of ∼10 ns. The shifts were of varying degrees: ∼200 cm-1 for Ag, ∼750 cm-1 for Au and ∼1400 cm-1 for Au/Ag nanoclusters. Application of the Time-Resolved Area Normalized Emission Spectra (TRANES) method confirmed the existence of multiple emissive species in each of the nanoclusters, which also helped to explain the time-dependent emission Stokes shift. © 2019 The Royal Society of Chemistry and Owner Societies.