PayPal adds instant transfer feature for bank accounts

Tech 1 week ago The Verge 29

No one likes waiting to get their money, especially when you’re stuck waiting for PayPal to process it. Fortunately, PayPal is addressing that today with a new option that will let users instantly transfer funds to their bank account (for a small fee, of course), via TechCrunch.

It’s essentially an expansion of the existing instant money transfer feature that PayPal (and Venmo, which PayPal owns) has offered since 2017. That feature only let users instantly transfer funds from PayPal to a Visa or Mastercard debit cards; the new option will let users move it directly to their banks just like they would with PayPal’s free transfer option, just much faster.

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