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Apple Cash Instant Transfer now works with Mastercard debit cards

Friday 6 August 2021 15:02 CET | News

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

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 26 August, 2021, the cost of making an Instant Transfer will change to 1.5% (previously 1%) of the transfer amount, with a minimum fee of USD 0.25 and a maximum fee of USD 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

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.


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Keywords: mobile payments, product upgrade, Apple, Apple Pay, ACH, instant payments
Categories: Payments & Commerce | Mobile Payments
Countries: United States
This article is part of category

Payments & Commerce