Why do apps/banks like Cashapp, Venmo, and Apple Pay charge a fee for instant transfers?

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Is it something that takes more labor or tech and therefore they charge? How is transferring from a bank in one to three days different from transferring right away, if they’re similar by method?

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6 Answers

Anonymous 0 Comments

Transactions typically take a couple days to go thought the communication, verification, etc. process so the “instant transfers” are basically short term loans. So they charge you for that loan.

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