Apple Cash Instant Transfer Now Works With Mastercard Debit Cards

Apple Cash, Apple's peer-to-peer payments service that works with Apple Pay and iMessage, received a couple of small updates on Thursday.

Apple Cash
It's now possible to use Instant Transfer with both Mastercard and Visa debit cards. Previously only the latter card could be used, so the addition of Mastercard means Instant Transfer is more accessible to users who want to quickly transfer money from an Apple Cash balance to a bank account without having to wait for the transaction to be processed.

Apple says that beginning August 26, 2021, the cost of making an Instant Transfer will change to 1.5% (previously 1%) of the transfer amount, with a minimum fee of $0.25 and a maximum fee of $15.

If users don't want to use Instant Transfer, they can also transfer money to their bank account using ACH and receive it within one to three business days with no fee.

To make an Instant Transfer, open the Wallet app and select your Apple Cash card, then tap the three-dotted icon. Tap Transfer to Bank, enter an amount, and select Instant Transfer.

Currently only available in the United States, Apple Cash can be used to make and receive payments in Messages, or you can get Siri to send money to a friend or family member.

When someone sends you money, it goes on your virtual Apple Cash card, which is stored securely in the Wallet app on your iPhone. You can use the money on it to send to someone, make purchases using ‌‌Apple Pay‌‌ in stores, within apps, and on the web.

Top Rated Comments

nicho Avatar
13 months ago

That’s true but I have never had a transfer take more than seconds.
Guessing you're under 30 when you say never.
Score: 5 Votes (Like | Disagree)
Remy149 Avatar
13 months ago

Every transfer in the Euro SEPA zone is free by law and most of them are instant now as well.
I can transfer from my Belgian account to my German account instantly, and for free.

Wild how behind the US is in banking. Always funny to me when Americans talk about Cashapp or Venmo. I haven't paid for a bank transfer in over 20 years.
American banks get away with all type of anti-consumer behavior
Score: 4 Votes (Like | Disagree)
InGen Avatar
13 months ago

Still wondering what the holdup has been for a service which seemed poised to launch imminently outside the US at the end of 2018 ('https://www.macrumors.com/2018/10/02/apple-pay-cash-likely-to-launch-in-france-and-germany-soon/').
Like most industry shaking services Apple tries to offer to its users, conventional industry leading corporations oppose, resist & attempt delaying said service in their region to protect their own established monopolies and profits as long as possible.

Apple being an American company cannot work it’s way into all these markets at one time, instead taking the slow route of seeking approval and negotiating its way into each area while overcoming the aforementioned resistance.
Score: 2 Votes (Like | Disagree)
daved2424 Avatar
13 months ago
You have to PAY to use this? I couldn’t wait for this to come to the UK but I ain’t gonna pay to use it. Thank goodness for PAYM.
Score: 2 Votes (Like | Disagree)
Lihp8270 Avatar
13 months ago

Only if you want the funds to be transferred instantly as a debit transaction. If you opt for the standard bank transfer there is no fee. They say it can take 1-3 days for the funds to be transferred but, from my own experience, I’ve noticed the money is usually transferred in one day.
Pretty much every bank transfer in the UK now is instant at any time of the day any day of the week. Free.
Score: 2 Votes (Like | Disagree)
Caliber26 Avatar
13 months ago

You have to PAY to use this? I couldn’t wait for this to come to the UK but I ain’t gonna pay to use it. Thank goodness for PAYM.
Only if you want the funds to be transferred instantly as a debit transaction. If you opt for the standard bank transfer there is no fee. They say it can take 1-3 days for the funds to be transferred but, from my own experience, I’ve noticed the money is usually transferred in one day.
Score: 2 Votes (Like | Disagree)

Related Stories

apple wallet drivers license feature

Three New iOS Features Expected for iPhones Later This Year

Sunday January 30, 2022 6:12 pm PST by
Apple finally enabled Universal Control in the macOS 12.3 and iPadOS 15.4 betas seeded a few days ago, but there are still at least three other features expected to be added to iOS later this year, including support for driver's licenses in the Wallet app. Below, we have listed new features that are planned for future iOS versions, along with a few features that are set to be expanded. Dri...
apple card 1 iPhone 13

Apple Card 6% Daily Cash Listings for Apple Purchases Were in Error, but Apple is Honoring Them

Friday October 22, 2021 1:55 pm PDT by
Yesterday, a number of Apple Card users were seeing mentions of 6% Daily Cash showing up next to some recent Apple purchases, leading to some confusion about whether Apple was launching a special promotion to double the usual 3% cashback program. Not all purchases were showing up with the 6% bonus, as some users were seeing only the standard 3% and Apple Card support representatives were...
apple card 1 iPhone 13

Some iPhone Users Experiencing Issues With Apple Card Payments [Resolved]

Monday January 31, 2022 5:58 am PST by
If you have been experiencing issues with paying off your Apple Card today, you are not alone, as complaints are starting to mount online. As noted by Aaron Zollo, host of the YouTube channel ZolloTech, some users attempting to make a payment towards their Apple Card are receiving an "Account Services Unavailable" error that says "Apple Pay services are currently unavailable." It looks ...
mir russia apple pay

Apple Closes Loophole That Allowed Mir Cardholders to Use Apple Pay in Russia

Friday March 25, 2022 1:41 pm PDT by
Apple this week suspended its Apple Pay service for the Mir card payment system in Russia, effectively closing a loophole that had allowed Russians to continue to use the Apple Pay service. According to Reuters, Mir had remained connected to Apple Pay even after Apple restricted the use of the payments service in Russia on March 1 for Mastercard and Visa cardholders. Russia's National...
tap to pay on iphone credit card

Stripe Launches 'Tap to Pay on iPhone' Beta Program Ahead of 'Spring' Release

Tuesday February 8, 2022 9:28 am PST by
Stripe today announced a closed beta program for Apple's upcoming "Tap to Pay on iPhone" feature, with a sign-up form available on its website. The payment platform said the feature is "coming this spring" in the United States. Tap to Pay on iPhone will allow newer iPhones to accept payments via Apple Pay, contactless credit and debit cards, and other digital wallets, with no additional...
tesla insurance card apple wallet

Tesla Insurance Customers Can Now Add Their Insurance Cards to Apple Wallet

Tuesday January 25, 2022 6:46 am PST by
Telsa car owners who have auto insurance through the electric vehicle company are now able to link their Tesla insurance cards directly to Apple Wallet, providing more accessible access to the cards on the iPhone and Apple Watch. Image from @coffeetabletsla via Tesla North As part of an update to the Tesla app yesterday on the App Store, the company has introduced support for Apple Wallet...
tap to pay iphone feature

iOS 15.4 Beta 2 Adds 'Tap to Pay on iPhone' Framework

Tuesday February 8, 2022 10:51 am PST by
The second beta of iOS 15.4 adds code for the new "Tap to Pay" feature that Apple announced this morning. "Tap to Pay on iPhone" is designed to allow NFC-compatible iPhones to accept payments through Apple Pay, contactless credit and debit cards, and other digital wallets, without requiring additional hardware. Tap to Pay on iPhone is enabled in the latest beta, but it does require...
coinbase app mobile

Coinbase Users Can Now Buy Crypto Assets Using Apple Pay

Friday August 6, 2021 1:23 am PDT by
Popular cryptocurrency exchange Coinbase has announced that it is now allowing traders to use bank cards linked to Apple Pay to purchase crypto assets on the platform. "Today, we're introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7," said a Coinbase blog post on...

Popular Stories

iPhone 14 Pro Purple Rear Flat MacRumors Exclusive

iPhone 14 Pro Predicted to Start With Increased 256GB Storage Alongside Rumored Price Increase

Wednesday August 10, 2022 11:14 am PDT by
Earlier today, analyst Ming-Chi Kuo claimed iPhone 14 Pro models will be more expensive than iPhone 13 Pro models. Kuo did not reveal exact pricing, but he said that the average selling price of all four iPhone 14 models will increase by about 15% overall. While higher prices would be disappointing for customers, it is possible the iPhone 14 Pro and iPhone 14 Pro Max will offer increased...
iPhone 14 Pro Lineup Feature Silver

Kuo: Apple to Increase Prices of iPhone 14 Pro Models

Wednesday August 10, 2022 8:22 am PDT by
Apple plans to increase the prices of iPhone 14 Pro models compared to iPhone 13 Pro models, according to analyst Ming-Chi Kuo. Kuo did not reveal exact pricing for the iPhone 14 Pro models. However, in a tweet today, he estimated that the average selling price of the iPhone 14 lineup as a whole will increase by about 15% compared to the iPhone 13 lineup. In the United States, the iPhone...
iPhone 14 Pro Purple Front and Back MacRumors Exclusive feature

iPhone 14 Is Just a Few Weeks Away: Three Tips to Prepare for the New iPhone

Wednesday August 10, 2022 4:08 am PDT by
The launch of the new iPhone 14 is just a few weeks away, meaning millions of iPhone customers will soon upgrade their existing iPhone or perhaps get an iPhone for the first time. Exclusive MacRumors iPhone 14 Pro renders by graphic designer Ian Zelbo Whether upgrading from an older model or this is your first iPhone, we've rounded up a few tips to help you prepare for the next flagship...
battery percentage ios 16

Here's Why the iPhone Battery Status Icon in iOS 16 Is So Controversial

Wednesday August 10, 2022 4:34 am PDT by
In the latest iOS 16 beta, Apple has updated the status bar battery icon on iPhones with Face ID to display the exact percentage remaining rather than just a visual representation of battery level, and while the change has been largely welcomed, some users are unhappy with the way it has been implemented. In iOS 15 and earlier, battery percent has not been present on iPhones that have...
Apple Watch Body Temperature Finished

'High-Accuracy' Apple Watch Temperature Sensor Revealed by Patent Filing Just Weeks Before Series 8 Unveiling

Wednesday August 10, 2022 5:39 am PDT by
Apple has been granted a patent for a temperature sensor suitable for the Apple Watch, just weeks before the company is expected to unveil the Apple Watch Series 8 with body temperature sensing capabilities. The newly granted patent, spotted by MyHealthyApple, was filed with the United States Patent and Trademark Office and is titled "Temperature gradient sensing in electronic devices."...