What is Instant Pay?

Posted by Checkbook on Jun 03, 2020

What is Instant Pay?

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Basic economics explains that having $100 now is more valuable than having $100 in two days from now. Besides inflation, this is because with two extra days of having that $100, you can invest and grow that money.

This, in part, explains why Instant Payments are so valuable. It is incredibly convenient to be able to instantly send and deposit money without extra fees for a variety of reasons.

But how do “Instant Payments” from Checkbook work?

  1. The recipient receives payment from the sender via a Digital Check that shows up in their email inbox.
  2. The recipient selects the “Instant Pay” option.
  3. The recipient inputs their Debit Card information.
  4. Funds are in their Checking Account in seconds!

It really is that easy. No fees, no waiting, no hassle. Great for businesses, individuals, families, and just about everyone.

Related Posts

What are Real Time Payments?

Real time payments allow individuals and businesses to, with the push of a button, instantly make funds available for use.

What is a Digital Check?

Checkbook.io’s Digital Check takes the Paper Check of the past and digitizes it

What is a Virtual Credit Card (VCC)?

With a virtual credit card, you can create temporary extensions of a pre existing credit card.


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