PayPal is on the verge of making it possible for its U.S. customers to instantly transfer funds to their bank accounts via eligible debit cards linked to their PayPal account, according to an announcement from the company.

The move is a new feature made possible through the partnerships PayPal announced last year with Visa and MasterCard. 

PayPal will charge customer 25 cents per transfer for the new feature, according to a blog post from the company. 

"We expect that funds will typically be available in your bank account in a matter of minutes, although some banks may take up to 30 minutes," Bill Ready, executive vice president at PayPal, wrote in the blog post. "Our beta of this is now available to select PayPal users and will be made available to all U.S. PayPal users with eligible Visa or MasterCard debit cards over the coming weeks and months."