instanttransfer
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PayPal opens instant bank transfers in the US
PayPal made it possible for businesses to get paid instantly, but what if you're an individual who just wants funds in a hurry? You might be set after today. The payment service has launched an Instant Transfer option in the US that shuttles money directly to your bank account, not just your debit card. It'll carry a 1 percent transaction fee and isn't worth it in most cases, but it could be vital if you need to pay a bill and would rather wait seconds for your funds instead of hours or days.
Venmo increases fees on instant money transfers
Effective November 6th, Venmo patrons who use Instant Transfer to move money from their Venmo accounts to their debit cards will notice increased service fees. Instead of a flat $.25 per transfer, Instant Transfer fees will be set at 1% of the total sum.
Venmo temporarily halts instant money transfers
Did you need a friend to pay you back on Venmo as soon as humanly possible? You might have to twiddle your thumbs for a little while. Venmo has temporarily pulled its instant transfer feature in order to make a "few changes" to the service. You can still use regular bank transfers, but that won't help much if you need that money to pay a bill.
