With WooCommerce Payments, after a shopper makes a purchase with your store, the funds from the transaction are placed into a pending balance on your account.
With scheduled deposits for a US account, these funds will remain in the pending balance for two days before being moved to the available balance and then being automatically paid out on the next business day. This payout can then take a day or more to arrive in your account as it is transferred through the banking network. With an instant deposit, you can request part or all of the available balance up to the daily limit be paid out to your connected account and that balance will arrive within minutes.
Scheduled payouts require no manual interaction and no fee is charged for the transaction; however, the funds take longer to arrive in your account. Instant deposits require a manual request, a fee is charged for the service, and the payout will arrive within minutes.
Only eligible accounts can request instant deposits, while all accounts receive scheduled deposits.