Latest in Gear

Image credit: Venmo

Venmo can instantly transfer money to your bank account

You might never have to worry about having money on hand.
82 Shares
Share
Tweet
Share

Sponsored Links

Venmo

Venmo's instant transfers are no longer limited to sending money to debit cards. The PayPal-owned service now permits transferring money immediately to linked bank accounts. It still incurs the same 1 percent fee with a minimum 25-cent transfer cost and a maximum $10 outlay. If you can tolerate that, though, it might just save your hide if you're running low on funds or just want assurances that money is sitting in your bank account.

This should be generally available in the "coming weeks," and free bank transfers are still available if you're willing to wait the customary one to three business days. There's certainly no mystery as to the strategy here. Venmo is betting that there will be enough of an urgent need for cash (or at least, enough impatient people) that it can make a profit from an otherwise free service.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
82 Shares
Share
Tweet
Share

Popular on Engadget

Google Home update leaves some speakers unusable

Google Home update leaves some speakers unusable

View
BYU researchers extend WiFi range by 200 feet with a software upgrade

BYU researchers extend WiFi range by 200 feet with a software upgrade

View
Apple TV+ adaptation of 'Foundation' will star Jared Harris and Lee Pace

Apple TV+ adaptation of 'Foundation' will star Jared Harris and Lee Pace

View
Google wants to be your guide to Champions League soccer

Google wants to be your guide to Champions League soccer

View
Scoot makes its new single-seat mopeds available in Los Angeles

Scoot makes its new single-seat mopeds available in Los Angeles

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr