> Link one bank account (not your primary) to PayPal to receive money, and transfer received money immediately.
Costs 1.5%. Or wait a few days.[1] Plus a fee for receiving cryptocurrency. There are additional fees for buying cryptocurrencies, other than PayPal's own. And none of this is FDIC insured.
[1] https://www.paypal.com/us/legalhub/paypal/pp-balance-tnc?loc...
Their fees for cryptocurrency are small (between 1.5% - 2.5% depending on amounts, higher amounts have a lower fee), but they take it on both the buying and selling end. So if the amounts you're moving require a 1.8% fee, then for both buying and selling you end up with 3.6% in fees. Coinbase and most other CEXes charge this and they claim part of the fee is due to instability in the price, so this fee acts as a spread they can use to not lose money.
I think they meant, initiate the transfer immediately. There's no need to pay for the "fast" transfer vs standard ACH.
Does PayPal support FedNow? Bank-to-bank transfers in under 10 seconds, for $0.045 each? Nah.
How many banks do? Not just theoretically, but practically.
Mine does supposedly but does not let me, the account holder, use FedNow. Instead I'm stuck using Zelle which I can hit the limits of just by paying a mortgage payment.
With PayPal in the UK you can do an instant transfer for free or pay extra for a two-day transfer. I don't know why the option is still there or why anyone would choose it.