PayPal allows instant bank account transfer
Since last September, PayPal has allowed companies to transfer their balances to their bank accounts immediately, and today individuals can also get their money directly into their bank accounts with a 1% commission of the transfer value.
The company has only now launched the service in the United States and may be required and important for many users who cannot afford to wait for hours or days to get their money after they have asked to withdraw them from PayPal to their bank cards.
The service will be implemented in the United States through the immediate clearing platform used by major US banks for immediate and rapid transfer.
PayPal is working to make service available later in many countries of the world, but this has its own complexities and needs to collaborate with multiple clearing and quick settlement agencies.
This service is aimed at those who do not have a bank card as well as independents and online workers through the provision of mini-services who receive non-periodic financial payments and need greater flexibility in receiving remittances.