What is Apple Cash and How Does It Work

Apple Cash is a peer-to-peer payment service that allows you to send and receive money directly from your iPhone.

It's linked to your debit card or bank account, making transactions easy and convenient.

To use Apple Cash, you need to have an iPhone with iOS 11.2 or later, and you need to set up Apple Pay Cash on your device.

Once set up, you can find the Apple Cash card in the Wallet app, where you can view your balance and transaction history.

To set up Apple Cash, you'll need to follow a few simple steps. Open the Settings app on your compatible iPhone or iPad.

You'll then scroll down and tap on Wallet & Apple Pay. From there, toggle Apple Cash on. This will enable the feature.

To complete the setup, you'll need to tap on Apple Cash under Payment Cards and then tap Continue. Follow the instructions on your screen to finish the process.

To set up Apple Cash, you'll need to open the Settings app on your compatible iPhone or iPad.

First, scroll down and tap on Wallet & Apple Pay. This is where you'll find the option to enable Apple Cash.

Toggle Apple Cash on to activate it. This will allow you to send and receive money, and make purchases with Apple Pay.

Next, under Payment Cards, tap on Apple Cash. You'll then be prompted to tap Continue and follow the instructions on your screen.

By following these simple steps, you'll be able to set up Apple Cash and start using it to send and receive money.

Discover more: How to Add Money to Apple Cash without Debit Card

You might be asked to verify your identity when using Apple Cash to protect your account. This is a normal security measure to ensure that only you can access your money.

Identity verification is an important step in keeping your account safe. You can learn more about it by checking out the resources provided by Apple.

If you're asked to verify your identity, don't worry, it's a straightforward process.

See what others are reading: Verify Cash App Card for Apple Pay

Transferring money with Apple Cash is a straightforward process. You can transfer your Apple Cash balance to your bank account without paying any fees. Most transfers complete within 1-3 business days.

You can transfer up to $10,000 per transfer and up to $20,000 within a seven-day period from Apple Cash to your bank account. There are no fees to transfer money from Apple Cash to your bank account unless you use Instant Transfer to send money to your debit card.

If you need to transfer money quickly, you can use Instant Transfer to send money immediately from your Apple Cash card to a Mastercard or Visa debit card. However, you'll pay a fee of 1.5% of the transfer amount (minimum $0.25, maximum $15).

Here's a summary of your transfer options:

To transfer money with Apple Cash, you'll need to be aware of the limits and fees involved. There's a maximum transfer amount of $10,000 per transfer, and you can transfer up to $20,000 within a seven-day period from Apple Cash to your bank account.

Broaden your view: How to Transfer Apple Cash to Cashapp

If you're using Instant Transfer to send money to a debit card, you'll pay a fee of 1.5% of the transfer amount, with a minimum fee of $0.25 and a maximum fee of $15. This fee will be clearly displayed before you complete the transfer.

Transfers to bank accounts are generally free, unless you're using Instant Transfer. In that case, you'll need to factor in the fee.

Worth a look: Apple Cash Won't Transfer to Bank

Are There Any Fees?

You can transfer money with Apple Cash without paying any fees, but there are some exceptions.

If you choose to use Instant Transfer to send money to a Mastercard or Visa debit card, you'll pay a fee of 1.5% of the transfer amount, which is a minimum of $0.25 and a maximum of $15.

The exact fee is always shown before you complete the transfer, so you can see exactly what you'll pay.

Here's a breakdown of the fees you might encounter:

Most bank transfers complete within 1-3 business days, so you can plan accordingly.

If you're planning to transfer money from your Apple Cash card to your bank account, it's essential to know the transfer limits. You can transfer up to $10,000 per transfer and up to $20,000 within a seven-day period.

Transfers typically complete within 1-3 business days, and there are no fees to transfer money from Apple Cash to your bank account, unless you use Instant Transfer to send money to your debit card.

Related reading: How Do I Transfer Apple Cash to My Debit Card

You can send money using Apple Cash in the Messages app or Apple Wallet, and the recipient will receive the funds directly into their Apple Cash account. To send money, simply tap on the Apple Pay logo in the app drawer and enter the amount you want to send.

To receive money, it goes directly into your Apple Cash account, where you can spend it, transfer it to a debit card, or transfer it to a bank account. Transfers to eligible debit cards are instant, while bank transfers take 1 to 3 business days.

You can also use Siri to send money, by saying something like "Send $15 to Susan for lunch."

Consider reading: How to Send Money Back on Apple Pay

To send money, follow these steps: open the Messages app, start a new conversation or open an existing one, tap on the Apple Pay logo, enter the amount you want to pay, tap Pay, and confirm your payment with Face ID, Touch ID, or your passcode.

If you don't have enough money on your Apple Cash card, one of the debit cards in Wallet will fund the rest of the payment. You can also choose to use your debit card instead of your Apple Cash card by tapping on the blue arrow next to the payment method.

To send money on your Apple Watch, open the Messages app, tap an existing conversation, scroll down, then tap the Apple Pay button, enter the amount you want to pay, and confirm your payment with a double-click of the side button.

You can also ask Siri to send money, such as "Send 25 dollars to Jane for movie tickets."

A different take: Apple Cash Payment Failed

Daily Cash is credited to your Apple Cash card every day, so you can use it immediately after making a purchase. This makes it easy to track your rewards and use them right away.

You can deposit Daily Cash to an Apple Savings account, but first, you need to add your Apple Card to the Wallet. This will enable the option to deposit Daily Cash into your savings account.

Daily Cash can also be deposited to an Apple Cash card, making it easy to transfer your rewards to a friend or family member. Just open the Wallet app and follow the prompts to deposit the Daily Cash.

Redeeming Daily Cash as a statement credit toward your Apple Card balance is another option. This credit counts as a payment, so you can use it to reduce your balance.

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You can view your Apple Cash transactions and check your card details in Apple Wallet. This is a convenient way to keep track of your spending and stay on top of your finances.

To deposit your Daily Cash, you have three options: deposit it to an Apple Savings account, an Apple Cash card, or redeem it as a statement credit toward your Apple Card balance. You can only choose one redemption option at a time, so think carefully about how you want to use your Daily Cash.

If you open an Apple Savings account, your Daily Cash will automatically be deposited into that account. However, you can modify your redemption preferences anytime in the Apple Wallet if you change your mind.

Discover more: Change Bank on Apple Cash

Viewing your Apple Cash transactions is a breeze. You can see your transactions and check your card details in Apple Wallet.

To view your Apple Cash transactions, simply open the Apple Wallet app. From there, you can access all your transaction history and card details.

You can also use the Apple Wallet app to check your card details, including your available balance and transaction history.

If you're using an Apple Watch, you can view your Apple Cash transactions directly from the Watch.

Daily Rewards are a great perk of using the Apple Card. You can earn a percentage of every purchase back as Daily Cash.

Daily Cash is credited to you every day, so you can use it almost immediately after making a purchase. This is a big advantage over other rewards programs that can take weeks or even months to pay out.

Some purchases with the Apple Card earn more Daily Cash than others. For example, you can earn 3% cash back on certain purchases, 2% cash back on all other purchases made via Apple Pay, and 1% cash back on all purchases made with the physical Apple Card.

Here's a breakdown of the Daily Cash earning rates:

Daily Cash never expires as long as your account is in good standing. This means you can use it whenever you need to, without worrying about it disappearing.

If you're having trouble with Apple Cash, don't worry, it's usually easy to resolve the issue. Apple Cash is linked to your Apple ID, so make sure you're signed in with the correct account.

First, check that your Apple Cash card is activated and you have a valid phone number associated with it. This is because Apple Cash requires a phone number to send and receive money.

If you're still having trouble, try restarting your device and opening the Wallet app to see if that resolves the issue.

To respond to an Apple Cash request, you'll need to open the request in the Messages app.

Tap Pay on the message to initiate the payment process.

Review the amount to send to ensure it's correct.

On your iPhone or iPad, you can tap Pay to continue, or change the amount if needed.

To confirm the payment, use Face ID, Touch ID, or your passcode.

On your Apple Watch, you can use the Digital Crown to change the amount.

Double click the side button to confirm and send your payment on your Apple Watch.

Recommended read: Apple Cash Payment Not Completed

If you're experiencing communication issues with Apple Cash, it's worth checking the limits. Apple Cash limits are in place to ensure secure transactions.

If you're having trouble sending or receiving money, it's a good idea to learn about these limits. This can help you understand why you're unable to make a transaction.

If you can't send or receive money and need help, follow these steps.