It’s not a loan, and the 1% fee isn’t an interest rate, so annualization doesn’t make sense and usury laws don’t apply.

Getting money today that you would normally get tomorrow is a loan. And whatever you are charged is the interest rate.

Usury laws prohibit interest rates >20%, because otherwise, there are people who would actually be paying back 20% more than the amount they borrowed. In your example, that's impossible - the additional "interest" you're going to pay is never going to exceed 1% of the money you "borrowed"

"im standing at the atm, can you wire me $20 quick, ill pay you back tomorrow"

"i just overdrafted and dont want to get hit with a fee, ill pay you back tomorrow"

etc etc

These seem overly contrived. I think we could all benefit by being a little more prudent financially.

As someone who's previously collected rent from multiple people, and then had to make a combined rent payment to the landlord, getting the money a day earlier often solves many logistical nightmares. Would I pay a 1% fee for it? Probably not. Would I pay a quarter? Sure