Do you Want to Know How to transfer money from Apple Pay to Bank Immediately with or without a debit card? Facing a card issue already in the wallet, want to know the transaction fee and how long it will take to transfer funds? then this post is for you.
How to transfer money from Apple pay to the bank Immediately with a Debit card
At the time of transferring money from your Apple Pay account to the bank, you can either transfer money directly to your bank account or to your debit card.
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In both conditions, money will be credited to your bank account.
However, the difference is if you use a bank transfer method to transfer funds it’ll take 1 to 3 days, which is probably what you don’t want if you are in need of funds immediately.
On the other hand, Apple Pay’s instant money transfer will transfer funds immediately but you need an eligible Mastercard or Visa debit card.
So if you don’t have the eligible debit card linked to your bank account, the instant bank transfer will not work.
So in this case you have to transfer money to your bank, here is how to do it-
- Open Wallet App on your iOS device-
- For iPhone: Open your Wallet app. Tap on the Apple Cash card there and click on the More Button.
- For iPad: Navigate to setting app, choose Wallet & Apple Pay there. Now tap on the Apple cash card.
- To Transfer money directly to your bank tap on transfer to Bank.
- Enter how much money you want to transfer to your bank account.
- You have to set up your bank account by following the on-screen instruction if you haven’t added one already.
- Confirm the transaction.
Now you just have to wait till the money will be credited to your bank account.
To avoid unnecessary delay transfer it on workdays only so you can receive funds within 3 days.
How do Transfer Money to the bank from Apple pay without a Debit card
Yes, you can Transfer money from apple pay to your eligible debit card, and it is the only option to receive funds instantly.
Here is the step-by-step process to transfer funds instantly to an eligible debit card-
- Make sure that you have the latest OS installed on your iOS device. iPhoneOS or iPadOS if you are using the iPad.
- Add your eligible debit card to the Apple Wallet app.
- Open the wallet app on your iPhone/iPad and tap on your Apple cash card.
- Choose Transfer to Bank, Enter the fund that you want to send, and click on the instant transfer option.
- Select the debit card you want to send funds.
By Following the process above, Your funds will transfer immediately.
In any case, it will not take more than 30 minutes.
How to Transfer Money from Apple Pay to a Debit card already in your wallet instantly
The debit card already in the wallet is a known bug that appears for some users.
Their users try to add cards in their wallet app but it’ll notify you that card is already in your wallet.
Even it is not listed in your Apple Pay account or showing in the wallet.
If you are facing this error, here is how you can fix it-
- Make sure that you have the latest iOS/iPadOS/macOS update installed on your device.
- If you have try sign out of your Apple ID and back in and see if this fixes your problem.
- Check that your Apple ID region is correct, Fix it if not. It is not available in all countries.
- Also, check that your bank also supports Apple pay.
If this troubleshooting guide has not fixed your issue, then you can contact Apple Pay Customer support.
What is Apple pay instant transfer Fee, Charges & Terms
Apple Pay Wallet is a commercial service, So of course, it’ll charge a fee on the transaction that you do on it.
However, the transaction fee to transfer money is nominal and will not exceed $10.
Apple charges 1% on each transaction which can’t be below 0.25% and not more than 10%.
Here are few other terms of transfer money-
- Minimum & Maximum Transfer Limits: Apple Pay users can transfer a minimum of $1 to $10,000 to their debit card or bank account. If you are part of the Apple Cash family you can transfer the maximum sum of $2,000 in a single transfer.
- Fees and Charges: For the Apple Pay instant transfer 1 percent of fees will be charged. These fees can be low as $0.25 but can’t be more than $10 on each transfer. The same is true of cash users.
- 7-Day transaction limit: Pay users can transfer up to $20,000 total to the bank or debit account within a 7-day period. For the Apple cash users, this limit is $4,000.
- Add Cash balance limits: The verified Apple cash users can have $20,000 in their wallet app. for the users who are part of the Apple Cash family, they can have $4,000 in their wallet.
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How Long it will take to transfer funds from Apple pay to the bank
As you know you can send money to your bank account from an Apple cash card by either using your bank account number or debit card.
How Long it will take to transfer funds? – the answer to this question depends on which method you used to transfer money.
If you are transferring money to a bank
For users who don’t have an eligible debit card, they can send money directly to the bank account.
Once the process is done, it will take up to 3 working days till the funds will appear in your bank account.
If you are transferring money to a debit card
In case if you choose to send money to your debit card, the funds will be added to your account instantly.
It will take a maximum of 30 minutes to credit.
