Make immediate payments with Instant Pay (2024)

FAQs

How do you politely ask for immediate payment? ›

IMPS offer an instant,24*7 interbank electronic fund transfer service capable of processing person to person, person to account and person to merchant remittances via mobile, internet and ATMs.

Through Online Banking

Enter the recipient's name. Click on Payment type. Select Instant pay. Accept the T&Cs.

A well known use case is the transfer of funds via mobile phone between friends to split a bill at a restaurant.

What is the most professional way to ask for payment? The most professional way to ask for payment is through an email or direct letter reminder. Make sure this letter is: Clear and concise.

A payment due upon receipt is a payment that customers must make immediately upon receiving an invoice for a transaction. Typically, businesses use payment due upon receipt to signify that a payment is due by the following business day.

Request to Pay involves a payee initiating a request for a specific transaction from a payer. The system provides a digital request that the payer can receive on their mobile device. This could arrive on a mobile banking app, or via a third-party fintech. A payer is then able to accept or reject the payment request.

Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts.

Immediate payments, also known as real-time payments or instant payments, are electronic transfers of funds that are completed almost instantly.

How do I get paid with instant pay? ›

Instant Pay is a fee-free benefit that allows you to get up to half of your pay after every day you work. Simply finish your shift and you'll get a notification on your phone offering you a portion of your pay. If you accept, funds are added to your Instant account, to use immediately.

You can send money to someone immediately by using a money transfer service or peer-to-peer payment app. If you're using a P2P app like Cash App or Venmo, for example, the money you transfer will be available immediately in the recipient's app balance. It can take a few days to be transferred to a bank account, though.

Instant payments are credit transfers that make funds available in a payee's account within ten seconds of a payment order being made.

Instant Payments are a subset of Faster Payments, where the speed of the settlement between the payer's and payee's FIs is just as fast as the clearing messages – they both must take no longer than a matter of seconds.

Use either a BSB and account number or a PayID to send and receive a Fast Payment. Send and receive money to and from a personal or business account.

I am writing to discuss the payment arrangements for the [project/service] we will provide. I truly appreciate the opportunity to work with you on this project and I am confident that we can deliver excellent results. As we move forward, I kindly request an advance payment to initiate the project/service.

Be direct about your needs but soften the request with kindness and gratitude. You could say something like, “I feel a bit awkward asking, but I really need some help with [specific thing]. Could you lend me some money? I really appreciate your support and understanding.”