Visa has announced that with Visa Direct, funds transferred to US bank accounts will be available within 1 minute or less starting in April 2025.
Visa Direct funds available in 1 minute
Consumers, businesses and governments can use Visa Direct to deposit funds to bank accounts linked to eligible debit cards in real-time.
Whether splitting a bill with friends, moving money between accounts, receiving an insurance claim payout or a worker accessing their earned wages, this change will ensure that funds are available in bank accounts within 1 minute or less, effective April 2025.
Visa Direct enables real-time money movement to eligible debit cards and reaches 99% of bank accounts in the US, over 11 billion endpoints including cards, accounts and digital wallets around the world.
“Faster payments are crucial for the modern economy, and this move by Visa is a significant step forward”
“Today, Visa Direct processes billions of real-time transactions in the US, across 50+ use cases, making it a preferred choice for consumers when receiving money from businesses or moving money between their accounts,” says Jim Filice, VP, Head of Real-time Payments, Visa Direct.
“This change underscores Visa’s commitment to accelerating real-time payments… and this update will significantly enhance the speed and convenience, while maintaining strong security standards.”
In addition to enhancing the cardholder’s experience, this update opens new avenues for businesses and governments to grow and thrive.
With faster funds availability, organisations can enhance their operational efficiency, deliver better customer experiences and foster trust among their clients.
Whether it’s disbursing government benefits, processing healthcare payments, or handling tips in the service industry, the improved speed and reliability of money movement using Visa Direct empowers businesses and governments to operate in real-time more effectively.
“Faster payments are crucial for the modern economy, and this move by Visa is a significant step forward,” continues Reed Luhtanen, Executive Director and CEO, US Faster Payments Council (FPC).
“Upgrading the US payment system is essential for secure, near-immediate funds availability. The FPC promotes diverse perspectives and collaboration to address barriers to faster payments.
Visa’s initiative sets an exemplary model for financial institutions to meet the demands for speed and efficiency.”
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