Apple Pay offers a convenient way to pay for purchases, but you might also accumulate funds in your Apple Cash balance from person-to-person payments. Fortunately, it’s easy to transfer this money to your traditional bank account. Here’s how:
Steps to Transfer Money from Apple Pay to Bank
- Open the Wallet App: Locate the Wallet app on your iPhone or iPad.
- Tap your Apple Cash card: Within the Wallet app, find your Apple Cash card. It has a black background with the Apple logo.
- Select “Transfer to Bank”: Tap the ‘…’ (more options) button located on your Apple Cash card. Then hit “Transfer to Bank.”
- Enter the Transfer Amount: Type the amount you wish to transfer from your Apple Cash to your bank account.
- Choose a Transfer Speed: You’ll have two options:
- Instant Transfer: Funds arrive in your bank account within minutes but incur a fee. This is typically 1.5% of the amount with minimum and maximum fees depending on your transaction.
- Standard Transfer Takes 1- 3 business days but is free.
- Select Your Bank Account: If you haven’t linked a bank account yet, you’ll be prompted to do so. If it’s already linked, choose the desired account from the list.
- Confirm the Transfer: Verify the details and confirm with your Touch ID, Face ID, or passcode.
Important Notes
- You can only transfer funds from Apple Cash, not money directly linked to cards in your Apple Pay wallet.
- The initial setup to link your bank account may take a few business days for verification.
- Instant transfer fees may vary.
- Check with your bank if they have limits or fees on incoming transfers.
- Always verify the transfer amount and account information before confirming.
Moving money from your Apple Pay balance to your bank account is simple! Now you can easily access those funds. Let me know if you have any further questions about Apple Pay!
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