Fed’s new instant payment system could be trouble for PayPal, Venmo

L4sBot@lemmy.worldmod to Technology@lemmy.world – 297 points –
Banks serving as guinea pigs for Federal Reserve’s instant payments system
arstechnica.com

Fed’s new instant payment system could be trouble for PayPal, Venmo::The Fed's goal is to connect 9,000 financial institutions nationwide.

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What bank do you have that charges $35 for a transfer?

I transfer between b of a and chase bank, both known for having decently high fees, without any of those fees.

The $35 amount I've only seen with overdrafting. Do you overdraft every single transfer?

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