PayPal now lets some US firms bypass 4-day waits and transfer money to their bank accounts in 24 hours


PayPal has announced a new Next-Day-Settlement (NDS) service that allows eligible businesses to transfer money from their PayPal accounts to their bank accounts within 24 hours. The pilot program is only available in the US for now, and PayPal is a little cagey on what it means by “eligible businesses,” however it does say that if your business qualifies for the program, you will already have been notified. Traditionally, PayPal takes 3-4 business days to fully transfer funds from a merchant’s account to their bank, as it uses an electronic network called Automated Clearing House (ACH) to shift groups of...

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