This is a new payment solution that allows you to send money directly from your business checking account to any 3rd party that has a US-based Visa debit card, instantly. Many instant payment solutions are wallet-to-wallet (think Venmo or Paypal), which means the recipient still needs to transfer the money to a bank account, taking more time and money, especially over weekends and holidays when ACH transfers are frozen. In just a few steps you can send money instantly and directly to someone's bank account using Instant by Wise. Its super easy to use, see below!
This is simple for the recipient also. They will receive a text message and/or email notification about the payment. They just enter their Visa debit card* information and billing address like any other online payment. They also have the option to save that so making Instant by Wise payments are even easier in the future! Once this is done, the payment is sent and will appear in the recipients' bank account.
*at this time, only Visa debit cards that were issued by a financial institution in the USA
**Limit: at this time, Instant by Wise payments to debit cards are limited to $2000 or less