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Why is Revolut instant but PayPal isn't?

  • 17-08-2020 11:11pm
    #1
    mr_fegelien
    Banned (with Prison Access) Posts: 1,483 ✭✭✭


    I've had people transfer money from their Revolut to mine. Its instant but unlike PayPal, it can be used instantly.

    I have a Revolut card but transferred money to my AIB account. It again came faster than it would be if I transferred from PayPal to my AIB account.

    I heard PayPal makes money by stalling your money. Is this true?


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,856 Mod ✭✭✭✭Henry Ford III


    With negative interest rates for certain durations holding cash might be a very poor idea.

    I'd imagine the difference is down to systems and efficiency.


  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,605 Mod ✭✭✭✭Jim2007


    I don’t think you can really compare these two as the serve different purposes. From what I have heard their business is mainly of two sorts. Most people seem to just sell their junk on the internet and with the proceeds buy more junk with short falls being funded by credit cards, these people don’t usually take money out. Then there are the merchants, but because of the money back guarantee etc, this is deliberately slow in any case. That leaves people who just use it as a payment system funded by credit cards who are not interested in transfers in any case.

    I’d thing transfers are an important part of their business model.


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