How To Transfer Apple Cash to Your Bank Account

Antalya, Turkey - September 14, 2021: Back view of new iPhone 13 white smartphone.
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Apple Cash is a way to send and receive money digitally, like Venmo or Cash App. The difference is that you can also use Apple Cash like any other card in your Apple Wallet anywhere you would use Apple Pay.

Apple Cash is a digital card that automatically appears in your Apple Wallet once your iPhone is set up. It doesn’t cost anything to have, but fees may apply for certain uses. You can transfer money between individuals directly through the Messages or Wallet app or use it anywhere that accepts Apple Pay.

Transferring Money From Apple Cash

If you have an iPhone, Apple Cash is quick, easy and free to use in most cases.

Minors can receive Apple Cash from adults who are set up as part of their Apple Cash Family and use it wherever Apple Pay is accepted. Children under 13 can only transfer their Apple Cash to their bank account, but teens can transfer Apple Cash to a bank account or eligible debit card.

How To Transfer Apple Cash to a Bank Account 

Here’s how to transfer Apple Cash to a bank account on an iPhone:

  1. Go to your Wallet.
  2. Tap on your Apple Cash card.
  3. Tap on the three dots inside a circle in the top right corner of your screen.
  4. Tap on “Transfer to Bank” — which is the second option and has an arrow next to it.

Here’s how to transfer Apple Cash to a bank account on an iPad:

  1. Go to the Settings app.
  2. Select “Wallet & Apple Pay.”
  3. Tap on your Apple Cash card.
  4. Tap on “Transfer to Bank.”
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At this point, on both devices, a window will pop up where you can type in the amount of money you would like to transfer. It must be between $1 and $10,000 — also, you cannot enter an amount greater than what you have in your Apple Cash.

Once you’ve selected an amount, tap “Next” on the top right. Your Apple Cash will be on its way to your bank and will arrive in one to three business days after finalizing the transfer. Bank holidays will make the process a little longer.

How To Transfer Apple Cash to a Debit Card Instantly

Transferring your Apple Cash balance to a debit card is quick and easy. Rather than waiting several days, your money is available within 30 minutes, and sometimes instantly.

To transfer Apple Cash to a debit card rather than a bank account, you will first need to add a debit card to the Wallet app by tapping the plus button in the app and then following the steps on the screen.

Some card issuers will have you sign in to your account or download an app to verify your identity before allowing the card to be used through the Apple Wallet.

Once you are done with this, follow the steps for transferring Apple Cash to a bank account on your iPhone or iPad until you tap “Next.” Once you do so, select the “Instant Transfer” option and select the debit card you want to transfer the money to.

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Your money should be available on your debit card within 30 minutes. If it isn’t there after two hours, contact Apple Support.

While transferring Apple Cash to your debit card is much faster than a bank transfer, Apple will charge you a transaction fee. Currently, the fee is 1.5% of the transaction total.

Transfer Limits for Apple Cash

You can transfer $10,000 per transaction or $20,000 weekly from Apple Cash to your bank. Money can only be transferred from Apple Cash to bank accounts or debit cards in the United States.

Your Apple Cash has a maximum balance of $20,000 unless you are part of an Apple Cash Family, where the maximum is only $4,000.

Fees With Apple Cash

There is a small catch with transferring Apple Cash to your debit card. While transferring to your bank may be slow, it doesn’t come with a fee, while transferring instantly to your debit card will cost you 1.5% of the transfer amount, with a minimum fee of 25 cents and a maximum fee of $15 every time you do it.

Since transferring Apple Cash to your bank account is free, a bank transfer is the way to go if you don’t need the money immediately.

What’s the Difference Between Apple Cash and Apple Pay?

Apple Cash is the name of a digital card that comes in your Wallet app. It is a holding place for money received from friends and family and can be used to pay for things anywhere that accepts Apple Pay.

On the other hand, Apple Pay is software in your iPhone that allows you to make secure, contactless payments from your Apple Cash or any card you have loaded into your Apple Wallet. Conveniently, you don’t have to carry all of your cards with you. You only need a compatible Apple device: iPhone, iPad, Apple Watch or Mac.

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Final Take

Apple Cash is a convenient way to send or receive money directly in the Messages app or through the Wallet app to other compatible Apple devices. As with most Apple features, it makes sense for people who already own Apple devices, but it’s not very useful for those who don’t.

Apple Cash can be a great way to easily send a limited amount of money to your children in their Apple Cash Family account — the money can be used almost instantly. This could bring peace of mind to some parents, but there seems to be no significant advantage to Apple Cash over, say, a rewards credit card in your Apple Wallet.

FAQ

Here are quick answers to some common questions about transferring Apple Cash to your bank account or debit card.
  • How do I transfer money from Apple Cash?
    • From your Apple Wallet on your iPhone or iPad, select your Apple Cash card. Select your transfer method and amount, then follow the prompts.
  • How do I transfer money from Apple Cash to a bank account instantly?
    • The only way to transfer money instantly from Apple Cash is to move the funds onto a debit card for a small fee. Bank transfers take one to three business days, while debit card transfers can be instant — though they may take up to 30 minutes.
    • To instantly transfer money from your Apple Cash account to a debit card, simply navigate to your Apple Cash card in your Apple Wallet, then tap it to start the transfer process.
  • How do I transfer money from Apple Cash to a debit card already in my Wallet instantly?
    • To transfer money instantly to a debit card already in your Apple Wallet, just tap your Apple Cash card from your Wallet, follow the prompts and select "Instant Transfer." Then just choose the debit card you want to transfer the money to.
  • How long does it take to transfer money from Apple Cash to a bank account?
    • Transfers from Apple Cash to a bank account typically take between one and three business days.
  • Can you transfer money from Apple Cash to Cash App?
    • Unfortunately, you can't transfer money directly from Apple Cash to Cash App. However, you can transfer your money to a bank account linked to Apple Cash. Once the money is available, you can add it to your Cash App balance. Keep in mind that the bank transfer process takes up to three business days.
  • How do I instantly transfer money from Apple Cash to Cash App?
    • You can't directly move money from Apple Cash to Cash App. However, you can use Apple Cash to transfer money to your debit card instantly. Once the money arrives, you can add it to your Cash App balance. Apple charges a small fee of 1.5% for Apple Cash instant transfers.
  • Why won't Apple Cash let me make an instant transfer?
    • Apple Cash may block an instant transfer if you're not a U.S. resident or are currently abroad and using your Apple device overseas. If you're under 18, your family administrator must set up an Apple Cash account for you and enable instant transfers.
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Virginia Anderson and Amber Barkley contributed to the reporting for this article.

Information is accurate as of Oct. 13, 2023.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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