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?
In: Technology
Free transfers are sent via ACH, same as transferring between bank accounts. The banks maintain these as a service for their customers so there’s no fee, but it’s kinda slow. The instant transfer uses credit card networks (visa or mastercard), which are way faster but you need to pay visa/mastercard a cut to use their network.
Latest Answers