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How to Transfer Apple Cash to Bank

Updated on April 10, 2024
At a Glance:
  • Apple Cash is a feature of Apple Wallet that enables users to transfer money to others with Apple Wallet.

  • Recipients can spend the money with Apple Pay, transfer it to another person, or withdraw it to their bank account.

  • To transfer funds to a bank account, link the account to Apple Wallet and follow the provided instructions.

  • Delays, transfer limits, and compatibility with US bank accounts should be considered, and troubleshooting steps such as checking bank statements, updating software, ensuring compatibility, and contacting Apple Support may be necessary.
  • If you have an Apple device like an iPad or iPhone, Apple Cash is an easy way to access your money using your device. The Apple Wallet app provides different services to make it easy to use your money. Integrating Apple Cash payments into your normal banking gives you even more convenience. If you want to learn more about how to transfer Apple Cash to bank account, read on.

    What is Apple Cash? 

    Apple Cash is a feature of the Apple Wallet smartphone App. It allows iOS and iPadOS device users to transfer money to other people who have Apple Wallet. 

    The receiver can then spend that money using Apple Pay, transfer it to someone else using Apple Cash. They can also withdraw the money into their bank account. 

    How to Transfer Apple Cash to Your Bank Account

    After you receive and accept an Apple Cash transfer from someone, you can choose to withdraw that money to your bank account. You have to link your bank account to Apple Wallet to transfer money to your bank account. 

    Follow the instructions below to transfer money from your Apple Cash balance to your bank account:

    1. Open the Apple Wallet app
    2. Tap the image of an Apple Cash card, then tap the More button (…)
    3. Tap Transfer to Bank
    4. Enter an amount of money to transfer then tap Next
    5. Choose the 1-3 Business Days option. If you don’t have a bank account linked to your Apple Wallet app, follow the on-screen instructions to add one
    6. Confirm the transaction with Face ID, Touch ID, or your passcode. 

    After you confirm the transaction, it will take up to 3 business days for the funds to be available in your bank account.

    How to Transfer Apple Cash to Your Debit Card

    After you receive and accept an Apple Cash transfer from someone, you can choose to withdraw that money to your debit card. You have to link your debit card to Apple Wallet to transfer money to your debit card. 

    The instructions for transferring money from your Apple Cash balance to a debit card are listed below:

    1. Open the Apple Wallet app
    2. Tap the image of an Apple Cash card, then tap the More button (…)
    3. Tap Transfer to Bank
    4. Enter an amount of money to transfer then tap Next
    5. Choose the Instant Transfer option
    6. If you don’t have a linked debit card that is compatible you will need to add one first
    7. Tap the button labeled > to choose the card you want to transfer funds to 
    8. Confirm the billing information for your chosen debit card.

    After you confirm the transaction, your funds should be available on your debit card within 30 minutes.

    Troubleshooting Apple Cash Transfers

    Although the procedure for how to transfer Apple Cash to bank accounts is simple, sometimes you may encounter problems that are difficult to understand. Below are a few things to keep in mind if you run into problems using Apple Cash.

    Delays Are Not Unusual 

    Depending on the method, it may take some time for the process to be finalized. Payment processing does not happen on weekends and bank holidays. 

    That means if you initiate a withdrawal on a Friday, you may only see the transaction on your bank statement several days later on Wednesday. 

    This is because Saturday and Sunday do not count within the 1-3 business days it takes to do the transfer. The same would apply on a bank holiday.

    Transfer Limits

    Apple Cash is for personal use. As such, there are limits to the amounts of money you will be able to withdraw to your bank account within a given period. 

    You can transfer a maximum of $10,000 in a single transaction. In addition, you can only transfer a maximum of $20,000 within 7 days. If you reach either of those limits, you will have to wait to transfer Apple Cash to your bank account or debit card.

    You can also try decreasing the amount of money you are trying to transfer.

    Transfer to US Bank Accounts Only

    To withdraw money from Apple Cash to your bank account, you need to link a compatible bank account. Currently, only accounts from banks in the United States are compatible with Apple Cash’s withdrawal function. 

    If you try to withdraw to an account outside the United States, the transaction will fail. If you need to transfer money to a non-US bank account you can contact Apple Support, who may be able to help you.

    Other Considerations

    Besides the issues outlined above, here are some other things to keep in mind if you are experiencing problems with Apple Cash:

    • Bank statement: If you are unsure whether a transfer has been successful, you can always check your bank statement. 
    • Updates: Make sure you have installed the latest update for Apple wallet, and that you have the latest version of iOS installed (if you are using an iPhone). In rare cases, using outdated software can cause unexpected behavior.
    • Compatibility: Make sure the debit card you have linked with Apple Wallet is compatible with the withdrawal function of Apple Cash. Not all debit cards are compatible with this function. It must be a Visa debit card. It must also be eligible for the service. The best way to find out whether your card is compatible is to contact the company that issued it to you and ask.
    • Connection: Apple Wallet needs a stable internet connection to work correctly. If you are having trouble completing a transfer, check that you have a good signal. If you are using WiFi, make sure the network you are connected to has internet access.
    • Double-check details: It may seem obvious to check that the bank account details you entered are correct, but it is easy to make a mistake when entering long account numbers and routing numbers.
    • Get help: If you do not see the withdrawal in your bank statement after 2 hours (transfer to a debit card) or 3 days (transfer to a bank account), then contact Apple Support for help. Also, contact Support if your transfer keeps failing and you can’t figure out why.

    Frequently Asked Questions (FAQ)

    How do I transfer Apple Cash to my bank account?

    To transfer Apple Cash to your bank account, open the Wallet app on your Apple device, tap on your Apple Cash card, then select ‘Transfer to Bank’. Enter the amount you want to transfer, confirm with Face ID, Touch ID, or passcode, and choose the transfer speed.

    Are there any fees associated with transferring Apple Cash to a bank?

    Transferring Apple Cash to a bank account is generally free for the standard transfer option. However, there might be a fee for instant transfers, which is a percentage of the transfer amount.

    How long does it take to transfer Apple Cash to a bank account?

    Standard transfers from Apple Cash to a bank account typically take 1 to 3 business days. Instant transfers are almost immediate but may attract a fee.

    What are the requirements for transferring Apple Cash to a bank account?

    To transfer Apple Cash to a bank, you need to have an eligible debit card or bank account linked to your Apple Pay, and your device must have the latest version of iOS or watchOS.

    Can I transfer Apple Cash to someone else’s bank account?

    No, you can only transfer Apple Cash to your own bank account that is linked to your Apple Pay.

    Is there a limit on how much Apple Cash I can transfer to my bank?

    Yes, there are limits on how much Apple Cash you can transfer to your bank. These limits are set by Apple and can vary, so it’s best to check the latest limits on their website or in the Wallet app.

    What should I do if my Apple Cash transfer to a bank fails?

    If your Apple Cash transfer to a bank fails, check for any error messages, ensure your bank account information is correct, and that your bank accepts transfers from Apple Pay. If issues persist, contact Apple Support.

    Can I cancel a transfer from Apple Cash to my bank?

    Once a transfer from Apple Cash to a bank is initiated, it cannot be canceled. Ensure you review all details before confirming the transfer.

    Do I need to verify my identity to transfer Apple Cash to a bank?

    Yes, you may need to verify your identity to use Apple Cash, including transferring money to your bank. This process involves providing personal information for verification.

    How can I add a bank account to Apple Cash for transfers?

    To add a bank account to Apple Cash, go to the Wallet app, tap on your Apple Cash card, select ‘Bank Account’, and then follow the prompts to add your bank account details.

    Read More

    Final Thoughts 

    You can choose from two methods of how to transfer Apple Cash to bank accounts or a debit card. If you transfer to a linked debit card, the funds will be available within 30 minutes. A transfer direct to a bank account takes 1-3 business days to reflect in your bank balance.

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    Frank Gogol

    I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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