Digital wallets revolutionized how we pay, and if you use Apple Cash, you can easily send money through iMessage or even ask Siri to do it for you.
With Apple Cash, you can easily send money to your families, friends, or colleagues. With just a few taps on your iPhone or iPad, the cash inside your Apple Cash Wallet can be transferred.
When Apple Cash released Instant Transfer, the money in your Apple Cash wallet can only be transferred to Visa debit cards. With the new update Apple just released, Mastercard debit cards are now supported.
So using Instant Transfer can send funds to an eligible Mastercard from your Apple Cash instantly.
If you want to learn more about Apple Cash, you can visit this official Apple website. Keep in mind also that Apple Cash is only available in the US.
Instant Transfer Fees
While this is convenient for us, using Instant Transfer will cost you some fees. Starting August 26, 2021, Apple will now charge 1.5% (1% previously) if you use Instant Transfer. In addition, there will also be a minimum fee of $0.25 and a maximum fee of $15 per transaction.
Looking For No Fees?
If you want to transfer your Apple Cash funds to your bank account at no cost, you can always use ACH (Automated Clearing House) transfers. But take note that funds in your bank account will arrive in 1 to 3 business days.
There you have it! If you have a Mastercard, I’m sure you’ll love this new update. Just take note of the fees Apple will charge you when using Instant Transfer.
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