Apple Cash is a digital wallet service that allows users to send, receive, and store money. It's a convenient way to pay friends and family or make purchases online.
To use Apple Cash, you need an iPhone or iPad with iOS 11.2 or later. You can also use Apple Cash on Apple Watch with watchOS 4.2 or later.
Apple Cash is integrated with Apple Pay, so you can use it to make purchases online or in-store. You can also use it to pay friends and family directly from Messages.
To send or receive money with Apple Cash, you need a valid debit or credit card.
How Apple Works
Apple Cash is a digital cash card stored in the Wallet app of Apple devices. You can use it for P2P payments and purchases through Apple Pay.
To receive money, it appears in your Apple Cash balance. This balance can be spent or transferred to a linked bank account or debit card.
You can send money to peers directly from the digital Apple Cash card or through the iMessage app. The money shows up on the recipient's Apple Cash card instantly.
Instant transfers to a bank account are possible, but it comes with a 1.5% fee. The balance may take from one to three days to be transferred to a bank account.
There's also an option to set up Apple Cash Family for children under 18 years old. This option limits the amount a child can send to $2,000 per message.
To add funds to the Apple Cash card, you need an eligible debit card.
Features and Benefits
You can earn up to 3% back in Daily Cash on every purchase you make with your Apple Card, which can be used to spend however and whenever you like.
With Apple Cash, you can send or receive money instantly, and the recipient's balance shows up on their Apple Cash card right away. However, it may take from one to three days for the balance to be transferred to a bank account.
If you're setting up Apple Cash for a child under 18, you'll need to know that they can only send up to $2,000 per message, and their balance can only grow when they receive money from another Apple Cash user.
You can use Apple Cash to spend online, in stores, and in apps, and it's also accepted as a payment method through Apple Pay.
Alternatives and Updates
If your bank offers Zelle, it's worth considering as an alternative to Apple Cash. Zelle allows you to send instant transfers at no extra cost, and you can access it directly from your bank's mobile app.
Venmo is another option, and it's available to anyone who downloads the app. You can follow friends and add fun emojis to your payments, or keep your account activity private if you prefer.
PayPal is a good choice if you need to send money internationally, and it also offers a debit card that can be used for online or in-store purchases. The PayPal debit card works similarly to the Apple Cash card.
Samsung device users can use Samsung Pay Cash as an alternative to Apple Cash. However, to take full advantage of Samsung Pay Cash, you'll need to register for a Full Card Account.
Frequently Asked Questions
Why does my Apple cash stop at $500?
Your Apple Cash transfer may stop at $500 if your identity hasn't been verified with the bank that issues the card. Verifying your identity can resolve the issue and allow transfers to continue
Can you have more than 500 in Apple cash?
The maximum Apple Cash balance is $20,000 for organizers and $4,000 for participants in Apple Cash Family. If you need to send or receive more than $500, you may be able to do so with Apple Cash, but check the limits for your specific situation.
Sources
- https://www.apple.com/apple-cash/
- https://www.vice.com/en/article/apple-credit-card-rare-sign-up-bonus-offer/
- https://www.bostonherald.com/2024/12/05/apple-cash-how-to-send-receive-money/amp/
- https://www.idropnews.com/news/apple-cash-may-get-virtual-card-numbers-in-ios-174/207857/
- https://www.idropnews.com/news/apple-to-soon-require-identity-verification-for-500-transfers-in-apple-cash/220444/
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