Apple has announced a couple of new updates to its Apple Cash payment system enabling Instant Transfer using Apple Cash with MasterCard debit cards, allowing users to transfer money from your Apple Cash balance to a bank account using a Mastercard debit card and Instant Transfer. To complement this change Apple has also change the fee associated with Instant Transfer raising it to 1.5% from 1%. If the new features sound like something you would use but as yet you haven’t set up or know how to use Apple Cash to send and receive money this quick guide will take you through the process.
A few things worth noting before you try to use the Apple payment service is that you need to be at least 18 years old and live in the United States. You also need a compatible Apple device running iOS 11.2 or later or watchOS 4.2 or later and Apple also requires require your Apple ID to have two factor authentication set up. Finally you will also need an eligible debit card in the Apple Wallet application see can send money.
Apple Cash allows you to make purchases using Apple Pay, and send money to someone using the Messages application making it easy to transfer funds to family and friends. Apple has also made it possible for you to transfer money from Apple Cash directly to your bank account and you can use the Instant Transfer feature to make payments and receive daily cash from Apple Card purchases. One good reason to use the service to send, receive, or request money on Apple devices is that there is no fee, although as explained above there are fees associated with transferring money using other cards such as Mastercard. For more details on all the fees associated with Apple Cash jump over to the official Apple website for the full Terms and Conditions. (Apple Cash card are services provided by Green Dot Bank, Member FDIC.)
How to use and setup Apple Cash
1. To set up Apple can on your iPhone or iPad go to the settings app and scroll down until you see Wallet & Apple Pay
2. Then simply turn on Apple Cash and under the Payment Cards select the AC service
3. Follow the on-screen instructions provided by Apple and you’ll be ready to access the features.
Now when someone sends you money its automatically securely kept on your Apple Cash card which can be found in the Wallet application on your iOS device. You can also set up the Apple payment service for family members under the age of 18 using your the Family Sharing organizer settings section. Don’t forget if you disable the payment feature on a single Apple device, you can still use the money service on other Apple devices where you are signed in using the same Apple ID.
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