Even between Chase held accounts, a new service heavily advertised by Chase, called "Quick Pay", can take a full business day to credit the recipient's account. This would be less than QUICK on a Friday.
Transfers can take up to 5 business days between different banks. This doesn't include the required FULL PC registration required prior to initiating a transfer. (Mobile registration isn't allowed.)
So, if you want to be TECH SAVVY and pay someone for their services with your cell phone, you might want to use it to call your bank and find your nearest ATM, and run and get the cash, (if you want the recipient to have access to the funds anytime soon.)
The insult here is this. The GIVER'S funds are IMMEDIATELY deducted, and recipients' accounts (even CHASE accounts, linked to the Quick Pay registration) aren't even PENDING a deposit, so overdraft fees could add up while waiting for this Quick Payment. It would seem to me that Chase (while claiming that the service is free) is burying the fee in day-to-day interest accrual while holding the funds in 'no man's land' limbo.
Sometimes "Old School" is still the best school. Write a check, (the recipient could take a picture of it with their phone and deposit that, at least it would show as 'pending') or carry cash.
There are a few possible applications where this would live up to the advertising. Both giver and recipient would be registered from home and have Chase accounts. Amounts would need to be smaller than the 'verification required' threshhold and on a business day. Okay? So, go ahead, buy your already registered, Chase account holder associate lunch already, what are you waiting for?