Sure, there's a couple who can conduct a P2P transfer and have the money transferred as "soon as the next day." but HomeATM does it in real-time.
Enter the amount you want to send, swipe your card, (enter PIN if applicable) and click "send." The recipient gets an email or SMS message on their phone saying you sent them money.
They click the email, swipe their card and enter their PIN (if applicable) and the money transfers in real-time. (meaning they could literally be standing at an ATM and withdraw it.)
P2P, as its been dubbed, allows you to electronically send money from your online checking account to any checking or savings account at any bank in the country. (typically it uses the ACH system and takes 1-3 business days)
This eliminates the cost of using a wire transfer or making someone wait for a check to arrive in the mail and then run to the bank with it. If, for example, your college student needs money right now, the cash can be in his or her account in the time it takes to send it, which with HomeATM, is literally seconds.
HomeATM can make the deposit via email and neither party ever needs or sees the other’s account information.
You can also use this service to move money from your online account to a checking or savings account at another bank.
