News

PayPal to roll out instant account transfers for US customers

June 23, 2017

PayPal will soon make it possible for customers in the United States to transfer funds instantly to their bank account via a debit card linked to their PayPal account, according to an announcement from the company.

This new feature is made possible through partnerships PayPal inked last year with Visa and MasterCard. 

PayPal will charge customers a fee of 25 cents per transfer, according to a blog post from the company. 

"We expect that funds will typically be available in your bank account in a matter of minutes, although some banks may take up to 30 minutes," PayPal Executive Vice President Bill Ready wrote in the blog post. "Our beta of this is now available to select PayPal users and will be made available to all U.S. PayPal users with eligible Visa or MasterCard debit cards over the coming weeks and months."