Instant transfers require the use of real-time payment (RTP) processors, and they charge a fee to use their services. Instead of next-business-day transfers, which are processed in batches only on business days, these RTP transfers are processed alone on a case-by-case basis – instantly – and are processed 24/7. Similar to rush shipping, you’re paying for a premium service that separates your request from the batch and expedites it.
The instant transfer fee is determined by your employer’s contract. Instant transfers always cost a flat fee instead of a percentage like some other services. No matter the amount you transfer, you’ll always pay the same flat fee per instant transfer.