Google Wallet has received an update with one very nice addition: now when you receive money in your Google Wallet account, it will automatically be transferred to either your debit card or bank account. This kills the delay between receiving money and cashing out, providing you with your money faster.
If you’re not already using Google Wallet, now might not be a bad time to check it out. All you need is an email address or phone number with which to sign up and you can start sending and receiving money from anyone in the U.S., so long as you have their phone number or email address. Naturally, it is complemented by Android Pay, which began handling the commercial payment side of things last year.
Automatic transfers to your debit card or bank account won’t be instantaneous for obvious reasons, but they will be faster than the previous method. According to TechCrunch, debit card transfers should either be instantaneous or within 24 hours, while bank account transfers may take the typical 2-3 days to arrive. Still, it beats having to do it all yourself manually. You’ll also still have the option to leave a balance in your Google Wallet.
Do you use Google Wallet? Which peer-to-peer transfer service does it best?