PayPal Adds New Feature: Instant Transfer for Bank Accounts

Thanks to the appearance of various technologies, life has become more convenient and it also includes the way we transfer money. PayPal is among the payment methods leader in the digital wallet and has dominated the market for some years. Released in 1998, this company hasn’t stopped to find innovations in the goal to make people’s life easier. Good news for the users because PayPal has launched a new feature called “Instant transfer to bank account”. This option allows people to transfer instantly their balance to their bank account. Unfortunately, this real-time transfer solution is only rolled-out to the consumers in the US but certainly, it will extend on other countries.   

Instant Transfer Pros

The quick system is the main advantage of using this option. The users can transfer their funds into their bank account instantly. This ability also includes the gambling sector. In fact, in the gambling field, when the players open an account in PayPal casino, they are able to have fun with the various games available in the site. If the chance is on their side and they win prizes, they can move their gains into their bank account directly. In addition, the freelancers can also transfer their money immediately without waiting for some days.

The high-level of security and safety is the next benefit of Instant Transfer for Bank Accounts. PayPal has a layer of security and fraud protection to protect your financial data. Thus, your banking information will never be revealed.  

Moreover, convenience is also the pros of this new solution. Undoubtedly, the e-wallets are handy permitting people to shuttle funds at anytime and anywhere. Due to the growth of mobile devices, you can withdraw your money directly on your smartphone. With the lower fees (1% of transaction value), it should be among the best features to get funds to your bank account.

Instant Transfer Cons

There are any significant disadvantages on using this solution apart from the fee that PayPal charged. Nonetheless, it is a small fee compared to other methods. As the new option operates in the US, it can be its possible drawback. However, the firm is working on how to spread it to other territories within a few weeks.

PayPal Other Types of Instant Transfers

Aside from this new option, the company already released other features improving its reputation as well as providing an efficient payment process to consumers. In 2017, “Instant Transfer to debit card” was launched by this firm and it has shown a big success among the users. In this option, people are able to transfer their funds to their debit cards directly. Then, the feature “Funds Now” was released in 2018 which helps the sellers to get money transactions within a few seconds. With this solution, you will get your money in a shorter time because PayPal’s commitment is to help you to get it.   

Conclusion

With the various tasks that people have to face, their common requirement is easier and simpler life. When it comes to shuttling money, choosing the fastest and the most convenient option is paramount. All these conditions can be found at this PayPal instant transfer to the bank account. This means a quick, easy, small fee, and flexible feature.