We’re beta-testing a new feature: instant transfers with a debit card. If you’ve been selected for the beta, you should have received an email invitation to test the feature. If you haven’t been invited to the beta, you won’t be able to make instant transfers yet—but we’ll be making them available to you very soon.
The beta test will run for several weeks. After that, we’ll briefly put the feature on pause while we prepare to launch it to all our customers.
How do instant transfers work?
Instant transfers are made with a debit card through the card network. The card network processes transactions in real-time, allowing you to transfer money almost instantly.
The primary advantage of instant transfers is their speed—you don’t have to wait several business days like you would with a typical bank-to-bank transfer. The primary disadvantage is their cost; card processors charge substantial transaction fees. For the beta test, Azlo will be absorbing the cost and instant transfers will be fee-free. In the future, however, we will charge to cover processing.
What cards can I link?
You can make instant transfers to or from a card that meets the following criteria:
- A U.S. debit card or reloadable prepaid card;
- That operates on the Visa or Mastercard network;
- And belongs to you or one of the business owners listed on your Azlo account.
Making an instant transfer
If instant transfers are enabled for your account, you can transfer money into or out of your Azlo account by taking the following steps:
- Log in to your Azlo account on a computer (instant transfers aren’t available on mobile yet, though they’re coming soon).
- Click the big blue “Move Money” button and select “Transfer Money” from the menu that appears.
- If you haven’t already linked a debit card, press the “Link New Card” button to enter and save your card information.
- Select your linked card, then choose the transfer direction and amount.
- You’ll be prompted to review and confirm the transfer before it’s sent.
While the beta is underway, instant transfers will be limited to:
- Up to four transfers into Azlo, with a per-transfer limit of $1,000.
- Up to four transfers out of Azlo, with a per-transfer limit of $2,500.