PayPal users can now transfer money from the app to their bank accounts in real time.
div > div.group > p:first-child"> PayPal, parent company of peer-to-peer payments app Venmo, announced"Instant Transfer" on Tuesday for users who typically need to wait at least one business day for those funds to land in their bank.
The instant-transfer feature is already rolling out to PayPal customers in the U.S., and should be available to businesses in coming weeks with international expansion"expected in the near future," according to PayPal. Venmo users will get the function"in the near future." The company began offering instant deposit for debit cards two years ago.
PayPal has been continuously moving into more traditional areas of banking like lending to small businesses. It and other tech companies are becoming increasingly popular options for borrowers who want to cut down on paperwork and access funds more quickly.
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