The reason we use Plooto and not a normal Bank EFT is that the bank accounts are two to sign, and the banks'  are not equipped to handle that setup for electronic payments.  Thus we have to go with a service that will allow two signers to approve the payment, then debit our account, and then direct deposit the payment to you.   Before they can deposit the payment to you, they need to ensure the payment that they are debiting to our account has gone through and not coming back.   (Much like when you deposit a cheque they may put a hold on it until the cheque clears).


While it is not instant, it is likely a shorter time frame than a physical cheque being prepared, having multiple signers sign the cheque, and then mailing.