Visa to Facilitate Transfers to U.S. Bank Accounts in Under One Minute

Visa has revealed an enhancement to its Visa Direct service that will facilitate fund transfers to U.S. bank accounts in one minute or less.

The Visa team has announced an upgrade to its Visa Direct service, set to launch on April 15, 2025. This significant advancement will allow individuals, businesses, and government agencies to transfer money instantly to bank accounts associated with eligible debit cards.

Visa Direct is an instantaneous payments platform that enables real-time money transfers utilizing debit cards. It supports 99% of U.S. bank accounts and over 11 billion Visa payment methods worldwide, including cards, bank accounts, and digital wallets.

The enhanced system aims to improve financial efficiency for both commercial and governmental entities by accelerating various types of disbursements. This initiative is anticipated to optimize operations and improve user experience. The update to Visa Direct is in line with the wider industry movement towards modernizing the payments landscape.

Jim Filice, VP at Visa, noted in the press release that Visa Direct already handles billions of real-time transactions across more than 50 applications in the U.S. market. This recent upgrade further underscores Visa’s dedication to promoting the adoption of real-time payments.

Visa is continually broadening its FinTech offerings. Earlier this December, e-commerce businesses in Latin America gained the capability to execute cross-border B2B payments using stablecoins and the Visa payment network.

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