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> Navigate to the Payouts section of your Balances page > Filter by “method” I have no "method" filter on that page, only "date", "amount" and "status". Also they talk about 2 business days payments as default but in the settings you can only choose between automatic every day / week / month. Since the instant payout is kind of a loan and you have to request it, pretty sure it doesn't affect me but it's all very conf…
Why is this such an important news? Do people regularly use instant pay out? I would think that it's mostly for emergency situations. Normal payout is still free.
Founder still lurks HN as well.
> Navigate to the Payouts section of your Balances page > Filter by “method” I have no "method" filter on that page, only "date", "amount" and "status". Also they talk about 2 business days payments as default but in the settings you can only choose between automatic every day / week / month. Since the instant payout is kind of a loan and you have to request it, pretty sure it doesn't affect me but it's all very conf…
They likely meant the ACH is 2 business days.
Only costs ~$25/month to plug into these rails, plus a few cents per transaction.
https://www.frbservices.org/financial-services/fednow/organi...
https://www.frbservices.org/resources/fees/fednow-2024
https://www.frbservices.org/binaries/content/assets/crsocms/...
The title feels a bit disengenious. Technically, yes, it was increased by 50% of what it was, but it is a shift from 1% to 1.5%, not up to 50% of each transaction.
Why is this such an important news? Do people regularly use instant pay out? I would think that it's mostly for emergency situations. Normal payout is still free.
The title feels a bit disengenious. Technically, yes, it was increased by 50% of what it was, but it is a shift from 1% to 1.5%, not up to 50% of each transaction.
The title feels a bit disengenious. Technically, yes, it was increased by 50% of what it was, but it is a shift from 1% to 1.5%, not up to 50% of each transaction.
Why is this such an important news? Do people regularly use instant pay out? I would think that it's mostly for emergency situations. Normal payout is still free.
I've met drivers who have had to pay out multiple times per day.
The title feels a bit disengenious. Technically, yes, it was increased by 50% of what it was, but it is a shift from 1% to 1.5%, not up to 50% of each transaction.
Yes, it's editorialized. The actual title is "June 2024 pricing update for Instant Payouts for businesses in the United States"
Earlier quoted context omitted.
They likely meant the ACH is 2 business days.
Stripe could choose to support FedNow instant payments and push these funds for pennies (up to $100k at a time), assuming the receiving institution hosting the deposit account(s) is set to receive on those rails. They would arrive within 20 seconds, per FedNow’s SLA. Only costs ~$25/month to plug into these rails, plus a few cents per transaction. https://www.frbservices.org/financial-services/fednow/organi... https:…
Appears they are still lagging in adopting FedNow (while Wells Fargo and US Bank have adopted)