Bank changelog
Bank changelog
bank.hackclub.com

Instant transfers & emergency funds

 

Improvement

  

The financial system in the US is a little slow. In personal finance, that's annoying. For a hackathon organizer who needs to buy 50+ burritos while herding cats attendees & dodging taxis in NYC, slow money transfers is too much.

As of today we've improved our account transfers beta to instantly add to your balance.

Donations usually take 3-5 days from a donor swiping their card to finally arriving in your account. Hackathon organizers often zero out their balance while waiting for a donation payment to arrive.

You can now request a front for paid funds that are still in transit– if your event is happening within 7 days we'll lend you the funds via an instant transfer from us, to you. Once the event is over we'll transfer the funds back out of your account.

Eligible invoices and donations have a button to request a front:

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Keep in mind we can only front funds that we can confirm paid (ie. they swiped their card successfully, but the funds haven't arrived yet), and we may take up to 24 hours to get your request. Although we're focusing on hackathons running within 7 days, we know everyone has a different story. If you have a special circumstance, please reach out– we are happy to talk through it with you.


p.s. Users who enabled the account transfer beta will also find their transfers reflect in their budgets immediately, instead of the 3-4 days that it used to take.