There are tons of great digital payment platforms available, but not all of them process their payments at the same speed. To help you out, here is a quick look at fast cash-out platforms that you can use in 2021.
Paycomp offers some of the fastest payment methods that you can use in 2021. Not only is it reliable, but it can fund any card, making it a convenient option for most people to use. Another bonus is how many options Paycomp has to offer. Paycomp has services like wire transfers, P2P transfers, EFT transfers, prepaid cards, and more!
Potentially one of the most popular money transfer apps in 2021 is Venmo, and the younger generation will likely keep it that way. Venmo is a convenient way to transfer money to other people, but it also boasts a quick cash-out feature. It offers an instant transfer that lets you instantly transfer funds into a linked debit card or bank account for a 1% fee. Otherwise, you can use the free standard transfer, but that will take 1-3 business days to process.
PayPal is one of the most popular digital payment services available, so they need to find faster methods to let their users cash out their funds. You can use their instant option when you transfer the funds from your PayPal balance to your bank account. While it does have a higher fee, it will enter your account almost immediately. If you use the cheaper or free method, then it will take anywhere from 1-5 business days.
Let us say that you need to quickly transfer funds from one financial institution account into another. Typically, that process can take 1-3 business days. However, you can get rid of that problem by using Zelle. Zelle is partnered with tons of banks in the US to facilitate fast bank to bank transfers at a very low cost. Zelle itself is free to use, but the banks may have different fees for transfers. Zelle transfers are practically instant, and most users can complete their payment transfers within 30 minutes.
Another popular app that you can try is Cash App. Cash App offers instant cash out options so you can immediately transfer funds from your balance into a linked debit card. However, your debit card needs to be able to accept instant deposits; otherwise, it will get refunded. Instant deposits have a 1.5% fee. If you choose a standard deposit, you will expect the money to transfer within 1-3 business days.
Google Pay is convenient for people who want fast and easy transactions, and Google Pay is usually free for most transactions. While the downside is that you will need a debit card to do most of your transactions, the whole app is easy to use and affordable. Plus, it offers an instant cash-out option at a 1.5% fee.
You do not have to wait for days to cash out your funds. You can try out the apps listed above to have quick cash-out into your accounts whenever you want it.