Here's the Lowdown on Apple Cash and Making Payments and Receiving Funds

Perhaps you are an iPhone owner who is unaware that Apple Cash is already at your fingertips. It's a virtual credit card that comes preinstalled on iPhones and iPads and can be accessed through the Wallet app.

Apple Cash's primary purpose is to streamline the process of sending money between people who use Apple devices, including through the iMessage app. However, Apple Cash is more than just a P2P service; it can also be used to make in-app purchases, in-store purchases, and online purchases.

It's easy to send money to loved ones with Apple Cash. Once set up, all one has to do is open the iMessage app to send money to a friend or family member without leaving the conversation. For those who use Apple Pay, a separate service that enables contactless payments with any linked card, including an Apple Cash card, it is also helpful.

Some tips and tricks for getting started with Apple Cash

Methods for using Apple Cash

Apple Cash is a virtual cash card that can be loaded into the Wallet app and used for P2P payments and Apple Pay purchases. Your Apple Cash balance will update when you receive funds from another user of Apple Cash. The funds are available for immediate use or can be transferred to another account.

Using the iMessage app or the digital Apple Cash card found in the Wallet app, you can send money to friends and family with Apple Cash. From $1 up to $10,000 per message can be sent or received. While the funds are available on the recipient's Apple Cash card immediately, the funds may not be deposited into a bank account for up to three business days. If you need to make a quick deposit into your bank account, know that there will be a 1 Cost extra 5%

Apple Cash Family can also be set up for minors (those under 18 years old). In this setting, a child can only send up to $2,000 per message. Those under the age of eighteen can't add funds to their Apple Cash card from a bank account either; their balance can only grow through transfers from other Apple Cash users.

Here's The Scoop On Apple Money

Using an eligible device, set up Apple Pay.

There are three requirements for setting up Apple Cash.

  • IOS 11-capable iPhone, iPad, or iPod Devices running iOS 8 or later, or watches running watchOS 4 2 and up for wristwatches)
  • Two-factor authentication set up for your Apple ID (found in Settings).
  • A bank account from which you can transfer money to your Apple Pay

Apple Cash can be activated in the Wallet and Apple Pay section of the Settings app. Follow the on-screen prompts by selecting the Apple Cash card icon. After accepting the conditions, your iOS device will automatically set up Apple Cash.

Once you've activated your Apple Cash card, you can find it in the Wallet app on your iOS device.

First, enable Family Sharing in Settings before proceeding with Apple Cash Family setup. In the Family Sharing section of Settings, the family organizer can add kids to Apple Cash.

Fund your card by adding money.

To load funds onto an Apple Cash card, you must have a debit card associated with your Wallet. The Wallet and Apple Pay section of Settings is also where you can add a debit card to Wallet if you haven't already.

After adding a debit card to Wallet, select the Apple Cash card and tap the "Pay" button. Then, select the elliptical "More" button. Clicking this link will take you to a page where you can manage your Apple Cash account, check your balance, add funds, and make withdrawals to your bank.

Simply select the "Add Money" button and enter the desired amount (at least $10). Money is transferred to your Apple Cash card after you verify your debit card of choice.

Third, make a payment.

Apple Cash can be sent from either your Wallet or your iMessage app. To make a payment or receive funds, both parties must have Apple Cash.

Simply tap the Apple Cash card in Wallet, and then tap the Send button, to send funds. Provide the recipient's name and/or phone number. You can send anywhere from $1 to $10,000 by entering the desired amount, reviewing it, and then confirming it with Face ID, Touch ID, or a passcode.

To send money to someone in an iMessage conversation, either open an existing one with that person or start a new one. To access Apple Cash, press the app button that appears to the right of the keyboard and then select the appropriate icon. A dollar amount (between 1 and 10,000 dollars) will be requested of you. After double-checking the total, you can either use Touch ID, Face ID, or a passcode to send the payment.

Whenever money is sent to someone for the first time, they have seven days to confirm receipt of the funds before they can be considered accepted. Subsequent transactions are processed automatically

Apple Cash purchases, whether made in-store or online, require payment with Apple Pay.

4 Deposit the remainder into your bank account

You may want to transfer funds from your Apple Cash card to a debit card or a bank account as your balance grows. You can do this in the same place where you added money to your digital card by selecting the ellipsis (...) icon that appears next to your card.

Type in the amount you wish to send, then select Next. If you want to transfer funds immediately (for a 1 There is the option of a one- to three-day (for a fee of 5%) transfer, or no fee at all. If you don't already have a bank account, the screen will direct you to do so after making a selection. After your approval, the funds will be transferred.

An instant transfer can only be made to a valid debit card, not a bank account. If you choose instant transfer, your funds will be sent within 30 minutes.

Money-saving options besides Apple Pay

  • Take advantage of Zelle, a peer-to-peer (P2P) payment service, if your bank is one of the nearly 10,000 that support it. With Zelle, you can make instant, fee-free transfers directly from your bank's mobile app.
  • You can send money to anyone else who also has the Venmo app installed. It's a completely separate P2P payment app, unlike Apple Cash or Zelle. Social features such as following other users and adding emojis to payments are included in Venmo, while users also have the option to keep their account activity private.
  • If you need to send money across borders, the peer-to-peer payment service PayPal is a viable option. A PayPal Debit card is also available, which, like the Apple Cash card, can be used for both online and in-store purchases.
  • Those who own a Samsung device have the option of using Samsung Pay Cash in place of Apple Pay Cash. It's a digital wallet that can be accessed from any Samsung mobile device, similar to Apple Pay. However, users will need to go through an additional registration process to upgrade to a Full Card Account in order to take advantage of Samsung Pay Cash in its entirety.

In conclusion

Apple Cash streamlines the process of sending money between people who use Apple products. To send money via iMessage, users need only tap the Apple Cash icon within their text message. It's a convenient place to store additional funds, and you can use it to make purchases wherever you see the Apple Pay logo.

However, Apple Cash can only be used to send and receive funds between Apple devices, so those looking for a more accessible payment service may want to look elsewhere.

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