This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
08/13/2019
Venmo launches instant transfers to bank accounts
Techcrunch.com
PayPal -owned payments app Venmo today announced support for instant transfers to U.S. bank accounts. The feature is an optional alternative to Venmo’s standard bank transfer service, which typically takes one to three business days to process transactions. With Instant Transfer, however, funds from your Venmo account can hit your bank account within minutes.
As of January 2018, Venmo has offered Instant Transfers to eligible Visa and Mastercard debit cards for a small fee. At launch, the fee was a flat $0.25, but Venmo bumped it up to 1% of the transferred amount last October. Now, the minimum fee is $0.25 and the maximum fee is $10. Of course, users can still choose the standard transfer option if they don’t want to pay for the convenience of instant payments.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information