PayPal instant bank transfers are here, giving people another option for funds availability, for a convenience fee, of course…
It’s already possible for business to get paid instantly using PayPal. But, until now, individuals didn’t have the same ability. To remedy this disparity, PayPal users can now transfer funds directly to their bank accounts in an instant.
PayPal Instant Bank Transfers Open in the United States
The new PayPal instant bank transfer option comes at a small cost, incurring a 1 percent transaction fee. But, it’s a good option for users seriously pressed for time.
What’s more, businesses will have the same option in the not-too-distant future, as well. And, the individual option will roll out globally, as it’s currently in the works at this time.
This is also a good alternative for PayPal users without a debit card. It’s particularly useful for those earning money in the gig economy. Although this does funnel money away from PayPal to individual bank accounts, it could prove an attractive tool for those who have abstained away from the service.