PayPal is launching Instant Transfer to bank, which will let those receiving money via PayPal instantly move that into their bank accounts to access as cash or however else they would like to use it. PayPal instant transfer

Like the debit card transactions, PayPal says that the “instant” transfers will vary by bank and may take up to 30 minutes to clear, but that’s still far faster than the “one to three business days” that the company quotes for the free, standard transfer. PayPal is also charging the same fee for instant transfers, whether they be to a bank or debit card: 1 percent of the total transaction, maxing out at $10.

The new instant transfer feature for banks is only available in the US for now, and it should be rolling out over the next few weeks.

Getting faster access to money is becoming more and more critical for most people, especially as the global workforce is evolving and an increase in less traditional and more entrepreneurial jobs means people have potentially less stable and more variable incomes. Faster access to your money can also mean being able to cover unexpected expenses and emergencies, staying on top of bills and avoiding late fees. For businesses, getting faster access to money from their sales can mean they can afford to hire more employees, purchase inventory, quickly invest back into their businesses and better manage their cashflow, said Bill Ready, PayPal’s EVP and COO .