How To Transfer Apple Cash to Your Bank Account

Apple Cash offers a high level of convenience to iPhone users, as this digital card allows them to receive and send money without any effort. While a digital wallet is handy in most situations, there are a few advantages of transferring money from Apple Cash to a bank account. Some of the main ones include the following:

• You won’t be limited when it comes to where you can shop, as despite the widespread use of Apple Pay, not all retailers accept it;
• Always relying on your phone to pay may not be the best option, as your battery can die at any moment. Having enough funds on your physical card is always a good idea;
• There is a limit on how much money you can keep on your Apple Cash balance. At the moment, once you verify your identity, you can have no more than $20,000 on your balance.

Keep reading to learn how to transfer money from Apple Pay to your bank instantly, what steps you need to take, and what fees and limits you should be aware of.

Move Apple Cash to a Bank Account: Step-by-Step Guide

Whether you decide to use an iPad or an iPhone to transfer money from Apple Pay to a bank account, the process is easy and quick.

Using an iPhone to transfer money

To fund a bank account via your iPhone, you have to do the following:

• Go to the Wallet app on your device;
• Find “Apple Cash” and tap to open your digital card;
• At the top of the screen, tap the “More” button shown as three dots;
• Next, choose “Transfer to Bank” in the menu;
• You should specify the sum you want to send in the corresponding field and tap “Next;”
• Finally, you choose how quickly you want to send the money—“1–3 Business Days” or “Instant Transfer.” The latter delivery option charges a fee.

Using an iPad to transfer money

Can you transfer Apple Cash to a bank account using an iPad? The answer is yes, and here are the steps that you should follow:

• Go to Settings on your iPad and choose “Wallet and Apple Pay;”
• Find your Apple Cash card and tap it;
• Next, tap the “Transfer to Bank” button;
• Specify how much you want to send to your bank account and tap “Next;”
• Choose the “1–3 Business Days” variant to send your money to a bank account without paying a fee.

If your funds don’t appear in your bank account after 3 days, it is recommended that you contact customer support.

How to Cash Out Apple Pay to a Debit Card Instantly

Now that you know how to transfer Apple Pay cash to a bank account, you also have an option to send money from the app to your debit card. Remember that you need to have a debit card added to a wallet before you start transferring money to it. To add a card, all you need to do is tap the plus icon in the Wallet app and provide the details.

When you transfer Apple Cash to a card, your money will appear on its balance either instantly or within 30 minutes. Typically, the chosen sum is sent in just under one minute. Because this is a quick delivery of money, you will be charged a 1.5% transaction fee. The current minimum fee is 25 cents, and the maximum fee you will be charged is $15.

If a fee doesn’t bother you, here are the steps to send money from the app to a debit card:

• Open the Wallet app on your smartphone;
• Choose your Apple Cash card;
• Tap the three dots setting in the upper right corner of the screen;
• Find the “Transfer to Bank” option and tap it;
• Next, you need to enter the amount you wish to send in the field and tap “Next;”
• You should then choose “Instant Transfer” in the menu. The money will be sent to a debit card you have previously added to Apple Pay.

According to Apple, if you choose instant transfer and don’t receive the money you sent within 2 hours, you should contact customer support to resolve the issue.

Fees and Limits to Transfer Apple Cash to Bank

Firstly, you cannot send more than $10,000 per single transaction from Apple Cash to your bank account. Secondly, you can send a maximum of $20,000 to your account within 7 days. Another limitation is that it is possible to transfer funds from Apple Cash to debit cards and bank accounts only within the United States.

Other lower limits apply to members of the Apple Cash Family, which can include those under the age of 18. The transfer limit for such accounts is currently $2,000 per single transaction and no more than $4,000 a week.

You should be aware of the fees, which are 1.5% of the amount for instant transfer to your debit card. If you choose the option where money is sent in 1 to 3 days, you won’t be charged any fees.