For iPhone users, Apple Pay is a very convenient service to get payments through. It is quite easy to learn how to transfer money from Apple Pay to bank or debit card and for in-store purchases as well that can even get you 3% cash back. Let’s take a closer look.
- You can send money from Apple Pay to Bank by Open Wallet > Apple Cash Card > Transfer to Bank > Amount of money > Mode of transfer > Confirm transaction.
- In order to update your bank account information in the app, you have to Open Wallet App > Apple Cash Card > Bank account > Account information > Next.
- If you payment on Apple Pay is not going through, check internet connection, debit card information, transfer limits, or contact the customer support team.
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How To Transfer Money From Apple Pay To Bank
Although you can use the money in your Apple Pay account for direct purchases, there may be a need to transfer it to a bank or debit account for other purposes. You just have to do a few taps here and there to get this done.
- Open the Wallet app and and click on Apple Cash Card.
- Then click on the three dots at the upper right corner and choose Transfer to Bank.
- Provide the amount of money that you wish to transfer and click Next.
- Choose 1-3 Business Day for standard mode of money transfer.
- 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
As you can see, Apple Pay to bank account money transfers are pretty smooth. However, if you have recently changed your bank account, the transaction would require you to update the information on iPhone app. Here’s how that can be done.
- Open the Wallet app on your iPhone. Then click to open the Apple Cash Card.
- Move to the three dots on the upper right corner and select Bank Account.
- Enter the account information and edit the routing number/account number as per need. Then tap Next.
- You can choose to delete the previous bank account from the app by selecting Delete Bank Account Information or keep it as it is.
Apple Cash To Bank Account Transfer Not Working? Here’s How You Can Fix It
It is very 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 why. Following are a few things you should check before trying again.
- Make sure that your phone is up to date as it can be troublesome to complete money transfers with an outdated iOS.
- Refresh the internet connection and also confirm that you are getting appropriate network strength.
- After that, recheck the bank details that you are providing. Sometimes, incorrect account number or routing number can be the cause of payment failure.
- Another crucial thing is to confirm that the debit card you are using with Apple Pay is compatible. Remember, it needs an eligible Visa debit card or your transfers will be turned down.
- Confirm that you are not exceeding the transfer limits. As is the case with Venmo and Chime, Apple Pay has also let a transfer limit of up to $20,0000/7 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. This does not mean that your payment has failed. However, if you do not know whether your payment went through or not, it is best to contact Apple Customer Support Team for further guidance.
Apple Pay Transfer Limits
Apple Pay lets you transfer up to 10,000 in a single transaction. The limit for 7-day period is $20,000. However, you have to keep in mind that Apple Pay transfers would only work if you are doing so to a legit bank in the US.
Luckily, 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.
The Bottom Line
Apple Pay is increasingly becoming user’s top choice when it comes to paying at stores and other important locations such as fuel points. If you rather choose to send money to your bank account, that would work out smoothly as well as long as your bank is located in the US.
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.
