Apple Ends Support for Funding Person-to-Person Payments With Credit Cards, Renames Apple Pay Cash to 'Apple Cash'

by

Apple yesterday began sending emails to Apple Pay customers, warning them about new changes to the service that are taking effect immediately with iOS 12.2 and watchOS 5.2. With the updates, Apple has ended support for sending money through ‌Apple Pay‌ Cash using a credit card (including the upcoming Apple Card).


Previously, users could link their credit card to fund person-to-person payments in Messages, which are then linked to ‌Apple Pay‌ Cash in the Wallet app. Now, Apple has stopped accepting credit cards as funding options for ‌Apple Pay‌ Cash effective March 25, 2019.

‌Apple Pay‌ users can still send money using a debit card or their existing ‌Apple Pay‌ Cash balance. The company says that the update "will ensure ‌Apple Pay‌ Cash customers never have to worry about cash advance fees that may be charged by issuing banks."

In the same email, Apple discusses ‌Apple Pay‌ Cash Instant Transfers, which lets users quickly transfer money from an ‌Apple Pay‌ Cash balance to an eligible Visa debit card in the Wallet app. These transfers are processed within minutes and a 1 percent fee (minimum fee of $0.25 and maximum fee of $10) is deducted from the amount of each transfer. Traditional bank transfers still remain, offering free ACH bank transfers that take one to three business days.

Lastly, during yesterday's keynote Apple showcased a new name for ‌Apple Pay‌ Cash, now simply called "Apple Cash." The company highlighted the name change during the ‌Apple Card‌ segment of the event, explaining how ‌Apple Card‌ owners will be able to get Daily Cash rewards that instantly appear on their Apple Cash cards.

Jennifer Bailey, VP of ‌Apple Pay‌: "So when you're buying your morning coffee, shopping for groceries, and any time you pay using ‌Apple Card‌, you get Daily Cash. Not a month from now, but every day. So every day you spend, cash is added to your Apple Cash card, which is also in the Wallet app.

This simplifies the name, although the change has yet to appear as of iOS 12.2. It's possible the name change will show up alongside the launch of ‌Apple Card‌ this summer.

If you missed yesterday's event, or want a quick refresher, be sure to check out or six-minute recap of everything Apple announced at the event.

Related Roundup: Apple Pay

Top Rated Comments

(View all)
Avatar
15 months ago

Sorry I'm not familiar with how things work in the US. But this is just your own money right, not credit card? So you're being charged to access your own cash.

So this is like a tax on being poorer and having lower cash reserves? Otherwise you just wait a bit longer?

But why are people transferring money from Apple to a debit card anyway? Because they need to access cash from an ATM? Apple doesn't support ATMs?

I don't understand why you'd put your money into this bank service that then places these "inconvenience fees" on you.

You seem to be making a much bigger deal out of this than it actually is. People pay other people with Apple Cash. The receiving party has two options to transfer that money to their bank. 1) ACH for free (takes 1-3 days), or 2) Instantly to a debit card, for 1% fee. If you want your money now, you pay a convenience fee. This is not uncommon.

Apple Cash is not a ATM card, you cannot use an ATM - besides ATMs charge a $2-3 fee to use unless its your bank's ATM.

Apple Cash is not a "bank service" its a way to send and receive money from people, like PayPal or Venmo. PayPal and Venmo also charge these fees for instant transfer. I'm pretty sure it costs them money to make an instant transfer so they are recouping it by charging you.
Score: 12 Votes (Like | Disagree)
Avatar
15 months ago
I love how Apple lists all of these reasons but leaves out that they themselves are offering a credit card (main reason) HAHA!
Score: 12 Votes (Like | Disagree)
Avatar
15 months ago
Ending that is a good idea. I know plenty of people who have accidentally taken a cash advance on their credit card thanks to trying to use Apple Pay person-to-person. Which is something no one ever wants to do, or ever should do.
Score: 11 Votes (Like | Disagree)
Avatar
15 months ago

1% fee to move money? Wow.

No. It is a 1% fee to move it instantly to a debit card. It’s still free for bank transfers, just as before. This isn’t uncommon in the industry.
Score: 11 Votes (Like | Disagree)
Avatar
15 months ago
all fun & dandy but there's zero reason to stop using PayPal

All of these apple services all under one roof are getting disturbing. One iOS botched update and your life is put on hold. And botched iOS updates are not uncommon.
Really... who wants their money tied to Apple services? Just asking for trouble.

The wisest thing to do is diversify to other providers for: Music, Video, money (especially money) and everything else. So when there's a problem (and Apple certainly isn't immune to them) only one service goes down, not the whole freaking house of cards
Score: 9 Votes (Like | Disagree)
Avatar
15 months ago

So why offer a version with 1% charge? Just trying to take advantage of people?

Because some people want the money instantly. This isn't new. The Cash App and Paypal have identical policies.
Score: 8 Votes (Like | Disagree)

Top Stories

Leaker: Apple to Stick With Lightning Over USB-C for 'iPhone 12' Before Going Port-Less Next Year

Tuesday May 26, 2020 2:31 am PDT by
Apple will use a Lightning port instead of USB-C in the upcoming "iPhone 12," but it will be the last major series of Apple's flagship phones to do so, with models set to combine wireless charging and a port-less Smart Connector system for data transfer and syncing in the iPhone "13 series" next year. The above claim comes from occasional Apple leaker and Twitter user "Fudge" (@choco_bit),...

Apple Reissuing Numerous iOS App Updates, Potentially Related to Recent 'This App is No Longer Shared' Bug

Sunday May 24, 2020 9:13 pm PDT by
Over the past few hours, a number of MacRumors readers have reported seeing dozens or even hundreds of pending app updates showing in the App Store on their iOS devices, including for many apps that were already recently updated by the users. In many cases, the dates listed on these new app updates extend back as far as ten days. Apple has not shared any information as to why updates for...

'This App is No Longer Shared' iOS Bug Preventing Some Apps From Opening

Friday May 22, 2020 3:58 pm PDT by
An app bug is causing some iOS users to be unable to open their apps, with affected iPhone and iPad users seeing the message "This app is no longer shared with you" when attempting to access an app. There are multiple complaints about the issue on the MacRumors forums and on Twitter from users who are running into problems. A MacRumors reader describes the issue:Is anyone else experiencing...

16-Inch MacBook Pro, iPad Pro, and iMac Pro With Mini-LED Displays Again Rumored to Launch in 2021

Tuesday May 26, 2020 5:30 am PDT by
Apple plans to release several higher-end devices with Mini-LED displays in 2021, including a new 12.9-inch iPad Pro in the first quarter, a new 16-inch MacBook Pro in the second quarter, and a new 27-inch iMac in the second half of the year, according to Jeff Pu, an analyst at Chinese research firm GF Securities. This timeframe lines up with one shared by analyst Ming-Chi Kuo, who recently...

Jailbreak Tool 'unc0ver' 5.0 Released With iOS 13.5 Compatibility

Sunday May 24, 2020 3:06 pm PDT by
The team behind the "unc0ver" jailbreaking tool for iOS has released version 5.0.0 of its software that claims to have the ability to jailbreak "every signed iOS version on every device" using a zero-day kernel vulnerability by Pwn20wnd, a renowned iOS hacker. The announcement comes just days after it was announced that the tool would soon launch. The unc0ver website highlights how the tool...

Future AirPods to Include 'Ambient Light Sensors' Possibly Related to Rumored Health Features

Monday May 25, 2020 2:53 am PDT by
Apple is reportedly looking to integrate light sensors in a new model of AirPods in the next couple of years, according to a new report today, suggesting their use could be part of rumored upcoming health monitoring features in the true wireless earbuds. In a paywalled article, DigiTimes reports that ASE Technology could be involved in manufacturing the sensors: Apple is expected to...

Top Stories: Apple Glass and iPhone 12 Rumors, iOS 13.5 Update, and More!

Saturday May 23, 2020 6:00 am PDT by
It was another big week for rumors this week, with a flurry of reports about Apple's augmented reality glasses, the iPhone 12, and Apple's "AirPods Studio" over-ear headphones. This week also saw the release of iOS 13.5, bringing a number of health-related updates to Apple's mobile devices. Subscribe to the MacRumors YouTube channel for more videos. Other topics of interest this week included ...

Apple's 'Bounce' AirPods Ad Wins 'Best of Advertising' Award

Friday May 22, 2020 10:09 am PDT by
Apple's creative "Bounce" ad designed to highlight the AirPods took top honors in the 99th annual ADC (Art Director's Club) awards for advertising, earning the "Best of Discipline" award along with two Gold Cube awards in the craft in video and branded content categories. Released in June 2019, the ad features a bored man who pulls his AirPods off of their wireless charging pad and then pops ...

Apple Releases macOS Catalina 10.15.5 With Battery Health Management Features, Fix for Finder Freezing

Tuesday May 26, 2020 1:59 pm PDT by
Apple today released macOS Catalina 10.15.5, the fifth update to the macOS Catalina operating system that was released in October 2019. macOS Catalina 10.15.5 comes two months after the launch of macOS Catalina 10.15.4, which introduced Screen Time Communication Limits. macOS Catalina 10.15.5 is a free update that can be downloaded from the Mac App Store using the Update feature in the...

'Apple Glass' Rumored to Start at $499, Support Prescription Lenses, and More

Tuesday May 19, 2020 6:30 am PDT by
Front Page Tech host and leaker Jon Prosser today shared several alleged details about Apple's rumored augmented reality glasses, including an "Apple Glass" marketing name, $499 starting price, prescription lens option, and more. The marketing name will be "Apple Glass" The glasses will start at $499 with the option for prescription lenses at an extra cost There will be displays in both...