Apple Pay is more than just a convenient way to make payments; it also allows you to send and receive money from friends and family with ease. This feature, known as Apple Cash, enables users to send money through iMessage or the Wallet app, making peer-to-peer transactions a breeze.
Understanding Apple Pay Cash
Apple Pay Cash is a feature available in the United States that lets you send money to others using the funds stored in your Apple Pay wallet. To use Apple Pay Cash, you need to set it up and link it to a compatible debit card in your Wallet app.
Setting Up Apple Pay Cash
- Open the Wallet App: Find and open the Wallet app on your iPhone.
- Tap on Apple Pay Cash: In the Wallet app, tap on the Apple Pay Cash card or, if it’s not visible, tap the “+” button to add a new card and follow the on-screen instructions.
- Link a Debit Card: You’ll need to link a compatible debit card to your Apple Pay Cash account to send money. Follow the prompts to add your card.
- Verification: Depending on your bank and card issuer, you may need to verify your card. This can involve receiving a verification code via text message or a phone call or following your bank’s specific verification process.
Sending Money with Apple Pay Cash
Once you have Apple Pay Cash set up, you can send money to friends and family using either iMessage or the Wallet app. Here’s how to do it:
Sending Money via iMessage with Apple Pay
- Open iMessage: Launch the iMessage app on your iPhone.
- Select a Contact: Start a conversation with the person you want to send money to.
- Tap the Apple Pay Icon: In your chat with the recipient, tap the Apple Pay icon (a dollar sign).
- Enter the Amount: Enter the amount you want to send.
- Choose a Payment Source: Select the source of funds (your Apple Pay Cash card or linked debit card).
- Authenticate the Payment: Authenticate the transaction using your device’s authentication method (Face ID, Touch ID, or passcode).
- Send Money: Tap the “Send” button to complete the transaction. You can also add a message if you wish.
Sending Money via the Wallet App with Apple Pay
- Open the Wallet App: Launch the Wallet app on your iPhone.
- Tap on Apple Pay Cash: In the Wallet app, tap on your Apple Pay Cash card.
- Tap the “+” Button: Tap the “+” button to initiate a new payment.
- Enter the Recipient’s Details: Enter the recipient’s name, phone number, or email address.
- Enter the Amount: Specify the amount you want to send.
- Choose a Payment Source: Select the payment source (Apple Pay Cash card or linked debit card).
- Authenticate the Payment: Authenticate the transaction using your device’s authentication method.
- Send Money: Tap the “Send” button to finalize the transaction.
Benefits of Sending Money through Apple Pay
- Convenience: Sending money through Apple Pay is simple and quick, especially when using iMessage.
- Security: Apple Pay employs robust security measures, including encryption and authentication, to ensure your transactions are safe.
- Expense Tracking: Transactions made through Apple Pay Cash are easy to track, helping you manage your spending effectively.
Withdrawing money from Apple Pay: step by step
If you have money on your Apple Cash card you can withdraw it to your bank account in 1 — 3 working days, or make an instant transfer to an eligible debit card⁶.
For an instant transfer to a debit card from your phone, you’ll need to:
Step 1. Open Wallet and select the Apple Cash card
Step 2. Tap the More button and select Transfer to bank
Step 3. Enter the amount you want to withdraw, and select Instant Transfer
Step 4. Add the card you want to transfer to if it’s not already in your Wallet
Step 5. Tap Transfer, select the card you need, confirm and you’re done
If you make an instant transfer, there’s a 1.5% fee, from a minimum of 0.25% to a maximum of 15 USD per transfer.
If you need to transfer your money to a bank account you can also do that for no fee, although this may take a little longer to arrive:
Step 1. Open Wallet and select the Apple Cash card
Step 2. Tap the More button and select Transfer to bank
Step 3. Enter the amount you want to withdraw, and select 1 — 3 business days
Step 4. Add a linked bank account if you don’t already have one
Step 5. Tap Transfer, confirm and you’re done
Conclusion
Apple Pay Cash offers a seamless and secure way to send money to friends and family, directly from your Apple device. By following these steps, you can harness the convenience of Apple Pay for peer-to-peer transactions, simplifying the process of splitting bills, repaying loans, and sending gifts. Whether you’re sharing expenses or sending a token of appreciation, Apple Pay makes it quick and hassle-free.