Apple Cash is a digital wallet that allows you to send, request, and receive money from other Apple users through iMessage. It’s a convenient way to split bills, pay someone back, or receive money from friends and family. But can you add funds to Apple Cash directly from the App Store? Here’s a quick overview of how Apple Cash works and whether or not you can add funds to it via the App Store.
What is Apple Cash?
Apple Cash is a peer-to-peer payment service designed by Apple. It allows users to efficiently transfer money between one another using Apple Pay and iMessage.
To use Apple Cash, you need an eligible debit card or prepaid card in Wallet on your iPhone. Once set up, you can access your Apple Cash card in Wallet and ask Siri to send or request money from contacts, or directly through an iMessage conversation.
When you receive money with Apple Cash, it gets deposited into your Apple Cash card that lives virtually in Wallet. You can use the funds to make purchases using Apple Pay, transfer it back to your bank, or send it on to friends and family.
Adding Money to Apple Cash
There are a couple ways to add money directly to your Apple Cash card balance:
From Your Bank Account
You can use a linked bank account to transfer funds into your Apple Cash balance. This lets you add a set amount of money instantly for use through Apple Cash.
To do so from your iPhone:
1. Open the Wallet app and tap your Apple Cash card.
2. Tap ‘Add Money’ and select your bank account.
3. Enter the amount you wish to transfer.
4. Verify using Face ID or Touch ID.
The money will be immediately available in your Apple Cash card once the transfer completes.
From a Debit or Prepaid Card
When you first set up Apple Cash, you link an eligible Visa or Mastercard debit or prepaid card. This allows instant transfers into your Apple Cash balance.
To add money from your linked card:
1. Open the Wallet app and tap your Apple Cash card.
2. Tap ‘Add Money’.
3. Enter the amount you want to add.
4. Confirm using Face ID or Touch ID.
The money will be added instantly from your debit or prepaid card. There are minimum and maximum limits per transaction that may apply.
Can You Add Money from the App Store?
Unfortunately, there is no direct way to add funds to Apple Cash using your App Store account balance or Apple ID payment method.
The App Store balance and payment methods linked to your Apple ID can only be used to make purchases in the App Store and related Apple services. They do not facilitate direct person-to-person money transfers like Apple Cash.
So while you can use Apple Cash to make purchases in apps, you cannot add funds directly to Apple Cash through the App Store itself. You’ll need to use a linked bank account, debit card, or prepaid card to add funds and make transactions.
Other Ways to Add Money to Apple Cash
In addition to bank and card transfers, there are a couple other ways you can add money to Apple Cash:
Receiving Money from Friends
When friends or family send you money through Apple Cash, it gets added instantly to your Apple Cash card balance. This is an easy way to receive funds that can then be spent, transferred, or sent on to other people.
Cash Back with Apple Card
If you have an Apple Card linked to Apple Cash, you can choose to receive your Daily Cash rewards as cash added to your Apple Cash balance. This provides an easy way to accumulate funds over time to use for purchases or transfers.
Selling Old Devices
Apple provides the option to get paid for trading in old iPhones and other devices via Apple Cash. When you trade-in online or at an Apple Store, you can choose to receive your credit as Apple Cash instead of a gift card.
Using Apple Cash Funds
Once added to your Apple Cash card, you have several options on how to use the funds:
Peer-to-Peer Payments
Send funds to friends, family, and contacts using Apple Pay and iMessage. Apple Cash allows you to easily split bills, pay someone back, gift money, and more.
Apple Pay Purchases
Use Apple Cash to make purchases anywhere Apple Pay is accepted either in apps, online, or at retail locations. It works just like a debit card for payments.
Transfer to Bank Account
Instantly transfer Apple Cash funds back to your bank account linked to the card so you can access it from your bank.
Pay Down Credit Card
If you have an Apple Card, you can use your Apple Cash balance to make payments and pay down your balance.
Apple Cash Security
Apple Cash utilizes the security layers of Apple Pay to help keep your money and information safe. Here are some of the key security benefits:
Encrypted Transactions
Each transaction is encrypted and processed using a secure token unique to your device, so your debit/prepaid card details are never shared.
Secure Enclave
The Secure Enclave security chip on iPhone and iPad provides advanced cryptographic security to protect your financial info.
Two-Factor Authentication
Adding money to Apple Cash requires two-factor authentication through Face ID, Touch ID, or your device passcode. This prevents unauthorized access.
Fraud Protection
Apple Cash transactions feature the same anti-fraud protections as Apple Pay purchases, so you get alerts on any suspicious account activity.
Passcode Requirements
Access to view your Apple Cash card and make transactions requires authentication via Face ID, Touch ID, or your device passcode.
Apple Cash Fees
Apple Cash does not charge any direct fees for most transactions between friends and family. However, there are some instances where fees may apply:
Instant Transfer Fee
An instant transfer fee of 1% will apply when immediately transferring Apple Cash funds to your bank account instead of waiting 1-3 business days.
Prepaid Reload Fees
Your prepaid card provider may charge a fee when reloading your prepaid card balance using Apple Cash.
Debit Transaction Fees
Your bank may charge non-sufficient funds or overdraft fees if trying to add Apple Cash funds from a debit card with insufficient funds.
So in most cases sending money to friends, Apple Pay purchases, and standard bank transfers are free. But instant, prepaid, and overdraft transactions may incur fees – check with your specific card provider.
Pros of Apple Cash
Here are some of the key benefits of using Apple Cash for payments and peer-to-peer transfers:
- Seamless integration with Apple Pay and iMessage
- Simple peer-to-peer money transfers
- No fees for most standard transactions
- Instant availability of funds
- Secure encryption and two-factor authentication
- Access cash back rewards instantly
- Make app and online purchases easily
Cons of Apple Cash
And here are a few potential downsides to keep in mind:
- Only available on Apple devices running iOS 11.2 or later
- Need an eligible Visa/Mastercard debit or prepaid card to add funds
- Fee charged for instant transfers to bank account
- Requires two-factor authentication which can be inconvenient
- Daily and weekly transaction limits may apply
- Limited consumer protection compared to credit cards
Frequently Asked Questions
Here are answers to some commonly asked questions about Apple Cash:
Is Apple Cash free to use?
Yes, in most cases Apple Cash is free to use with no fees charged. The only exceptions are instant transfers to banks, prepaid reload fees, or overdraft fees that may apply in certain situations.
Is Apple Cash secure?
Yes, Apple Cash utilizes encrypted transactions, two-factor authentication, and other security measures to help keep your money and information safe when sending or requesting funds.
Can I cancel a payment?
Unfortunately no, once an Apple Cash payment is sent you cannot cancel it. However, you can request that the recipient sends the funds back.
What cards work with Apple Cash?
You can add funds to Apple Cash using a Visa or Mastercard debit card, prepaid card, or bank account from a supported financial institution. Credit cards are not supported.
Can I withdraw cash from Apple Cash?
No, there is no way to withdraw physical cash. But you can instantly transfer funds to a bank account or spend it using Apple Pay.
Conclusion
In summary, Apple Cash provides a convenient way to send money to friends, pay bills, and make purchases right from your iPhone. But it currently does not offer any way to add funds directly via the App Store or your Apple ID payment methods.
To add money to Apple Cash, you’ll need to use a linked bank account, eligible debit/prepaid card, or receive peer-to-peer payments from others. While it would be a nice feature, there is no direct integration with the App Store for funding your Apple Cash account at this time.
Despite that limitation, Apple Cash remains a handy service for iOS users who want a quick and easy way to handle money transfers on the go and make purchases using Apple Pay. With encrypted transactions and two-factor authentication, it provides a good level of security for digital payments made through your iPhone or iPad.
