How To Transfer Money From Apple Pay To Bank Within Seconds?

For iPhone users, Apple Pay is a very convenient service for making payments. It is easy to learn how to transfer money from Apple Pay to a bank or debit card, and for in-store purchases, that can even get you 3% cash back. Let’s take a closer look. 

How To Transfer Money From Apple Pay To Bank Instantly

Although you can use the money in your Apple Pay account for direct purchases, you may need to transfer it to a bank or debit account for other purposes. To do this, you just have to do a few taps here and there. 

1. Open the Wallet app and click on Apple Cash Card. 
2. Then click on the three dots at the upper right corner and choose Transfer to Bank. 
3. Provide the amount of money that you wish to transfer and click Next. 
4. Choose 1-3 Business Days for the standard mode of money transfer. 
5. Confirm the transaction via verification and wait for the transfer to finish. 

Attention! You can immediately send funds from Apple Cash to Bank account by choosing instant mode of transfer. This may incur extra fees but the transaction would be complete within seconds.

Update Your Bank Account Information – Step By Step Guide

Apple Pay to bank account money transfers are pretty smooth. However, if you recently changed your bank account, the transaction would require you to update the information on the iPhone app. Here’s how to do that.

1. Open the Wallet app on your iPhone. Then click to open the Apple Cash Card. 
2. Move to the three dots in the upper right corner and select Bank Account. 
3. Enter the account information and edit the routing number/account number as needed. Then tap Next. 
4. You can delete the previous bank account from the app by selecting Delete Bank Account Information or keep it as it is. 

Extra Reading

Apple Pay Instant Transfer To Bank Account Transfer Not Working? Here’s How You Can Fix It

It is uncommon to experience glitches when transferring money through Apple Cash, but it does happen. If you have trouble during the transaction, there can be several reasons. Following are a few things you should check before trying again. 

• Make sure that your phone is up to date. It can be troublesome to complete money transfers with an outdated iOS.
• Refresh the internet connection and confirm that you are getting appropriate network strength.  
• After that, recheck the bank details you provided. Sometimes, an incorrect account number or routing number can cause a payment failure. 
• Another crucial thing is to confirm that the debit card you use with Apple Pay is compatible. Remember, it needs an eligible Visa debit card, or your transfers will be turned down. 
• Confirm that you are within the transfer limits. As is the case with Venmo and Chime, Apple Pay has also allowed a transfer limit of up to $20,0000 per 7-day period. 

A delay in receiving the transfer is quite common. It can typically take up to 3 business days for the funds to reach the recipient party. Your payment has succeeded. However, if you need to know whether your payment went through, it is best to contact the Apple Customer Support Team for further guidance. 

Apple Pay Transfer Limits

Apple Pay lets you transfer up to $10,000 in a single transaction, and the limit for seven days is $20,000. However, you must remember that Apple Pay transfers only work if you make them to a legitimate bank in the US. 

You don’t have to pay additional charges to transfer the funds to the bank account. However, if you choose instant transfer, there will be associated fees. 

Apple Cash Instant Transfer Fee

Apple Cash charges a fee for instant transfers. You will have to pay a 1.5% fee, with a minimum fee of $0.25 and a maximum fee of $15. 

The fee is deducted when you initiate the transfer. Moreover, the mentioned limits for Apple Cash transfers do not include fees. 

Can I Transfer All Apple Pay Account Balance To The Bank?

Apple Cash lets you transfer up to $10,000 per transaction. 

• You can transfer the entire amount if the Apple Cash balance is less than $10,000. 

Other Apple Cash limits you need to keep in mind. For example, the minimum transfer amount is $1, you can only transfer to accounts in the US, and the linked debit card must be eligible for a Mastercard or Visa card. 

The Bottom Line

Apple Pay is increasingly becoming the user’s top choice when paying at stores and other essential locations such as fuel points. If you prefer to send money to your bank account, that will work out smoothly if your bank is in the US. 

You might be interested in reading: Can You Use Apple Pay At ATMs?

Frequently Asked Questions

How do you transfer money from Apple Pay to a debit card?

Yes, you can transfer funds from Apple Pay to a debit card. Open the Wallet App and tap on Apple Cash Card. Then tap on the More button. After that, click on Transfer to Bank. 

Your debit card should have funds available within 30 minutes; however, if there is a delay, message support.apple.com for assistance. 

Can I transfer money from Apple Pay to Cash App?

It is not possible to send money directly from Apple Pay to the Cash App. However, a workaround exists. You can first transfer the funds from Apple Cash to your bank account and then send the money from the bank account to the Cash App. The Cash App has an “Add Cash” option that allows you to add funds instantly from a linked bank account. 

How to change your instant transfer card on Apple Pay?

You can add a new card for instant transfer by following in-app instructions. The app will let you choose a Mastercard or Visa debit card to transfer funds instantly. 

How can you add a bank account to Apple Pay without a card?

It is possible to use Apple Pay without a card. It is part of the Wallet app, so you can pay wherever a debit or credit card is accepted. 

Can children under 18 use Apple Cash to transfer funds to bank accounts?

Children under 18 can use Apple Cash if they are part of the Apple Cash Family. Teens at least 13 can be added as eligible Apple Cash Family members.

Cassidy Horton

Cassidy Horton is freelance finance base research writer and published hundred of articles on money, banking, loan and more. Her work is published authority finance site on Forbes, Money Under30, NerdWallet and many other finance brands. Further she is considered financial expert by MSN, LegalZoom & Consolidated Credit.