Google Wallet is updated to incorporate automatic transfers to bank accounts

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Google has updated their mobile application and has allowed automatic transfers to a bank accounts which will no longer require to get the money from your “Wallet balance” making faster and more effective the process of accessing cash.

The features have been announced via the application update, says TechCrunch but will begin operating gradually from next week and users can slowly transfer automatically their money, saving the step that meant it was necessary to activate a transfer of the source account to the Wallet account then use this balance.

This change will also affect transfers to friends, as the money can go directly to the bank accounts without having to wait a certain amount of time for the transaction to finish. But this is only an option and users can also keep their Wallet balance if they wish, as this option will not disappear.

This move could help Google Wallet to be real competition from other money transfer services such as PayPal or Venmo, among others.