How it works

Enter the amount you want to transfer, add a debit card that matches the account owner, confirm the details and tap Transfer. Funds are instantly sent and are available to use right then and there. Instant Transfer is available on both web and through the Outgo app.

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Step by step instructions: 

1. Select “Transfer” on the “Overview” tab on web or the “Balance” tab on the Outgo App.
2. Enter the desired transfer amount, select “Instant” under “Select Speed”, and click “Next”
3. If you haven’t setup a card before, it will prompt you to add a card, or you may select the card you’d like to transfer to. 
4. When you setup a card, fill out all of the card details. The card must match the owner of the Outgo account. 
5. Select the card you'd like to transfer to.
6. Confirm the transfer details and tap “Transfer”

Card eligibility

You can only transfer funds to a debit card that matches the user’s information that setup the Outgo account. When you link an external debit card, a verification process will ensure that the name on the external debit card matches this name. You’ll get an error if the name does not match. Instant Transfer to other individuals or non-owned accounts is not supported at this time.

Associated fees and daily limits

Instant Transfers are a 1% fee up to a maximum of $20 per transaction. Standard factoring fees still apply to funds transferred from your Factorable balance. 

The daily limit for Instant Transfer is $5,000 and can be moved in either one or several transfers. 

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What happens if an instant transfer fails?

If an Instant Transfer fails, the funds will arrive back in your Outgo Checking Account in two deposits: the transfer amount and the refunded Instant Transfer fee. 

Factoring fees are not eligible for a refund after a failed Instant Transfer. 

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