Pay your merchants (even) faster!
“Get money to a recipient, in a usable form, as quickly as possible.” This is a maxim of Balanced’s product philosophy, and we’re obsessed with increasing the speed of our ACH payouts. We’re happy to announce we now support same-day payouts to all Wells Fargo customers – about 15% of bank account holders in the US!
Better than industry standard:
Balanced already provides next business day payouts, much faster than the industry standard 3-5 days. Thanks to a new banking partnership, we now offer same-day payouts to all Wells Fargo customers. Dwolla, by comparison, takes 2-3 days to pay out to their merchants’ bank accounts, PayPal: 3-5 days, and Stripe takes 7 days. Look for more banks to be added to our same-day payout program in the future.
What customers are saying:
Balanced customers have already praised the speed of our ACH payouts:
James Beshara, CEO Crowdtilt: > Another reason we chose Balanced was 24 hr next day direct deposit. This was a feature for our use case that became a must-have as soon as we told users that it was possible. For our users, if you’re collecting money for a party bus on Friday night or the tailgate on Saturday, you’re likely going to begin collecting that money the week of the event. source
Now 15% of our payouts are even faster!
What this means for Balanced customers:
Same-day payouts to Wells Fargo customers will be made immediately available to all Balanced developers, whether you’re using just Balanced Payouts or Processing and Payouts together. No action is required to begin using same-day payouts. Balanced will simply begin speeding up payouts for eligible merchants.
Thanks to Ken Yeung at TNW for covering this announcement.