Apple Pay Cash guide: What it is and how it works

Jason Cross
7 December, 2017
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Note: This article is based on information from the United States. However, Apple Australia has provided information for Australian users.

When iOS 11 landed on 19 September, it came without one of its most anticipated features: Apple Pay Cash. Similar to Venmo or Square Cash, Apple Pay Cash lets you instantly send money to another iOS user. You don’t even need a new app, as it’s built right into iMessage.

It’s an incredibly easy way to send person-to-person money, but it does have a few caveats you’ll need to be aware of. Here’s what you need to know about setting up and using it.

Apple Pay Cash requirements

For starters, both the money sender and receiver need to be running iOS 11.2 or later. Apple Pay Cash was added in iOS 11.2 beta 2, and is in the final release as well. According to Apple’s support page, you’ll need to meet the following requirements:

  • A compatible device with iOS 11.2 or later
  • Two-factor authentication for your Apple ID
  • An eligible credit or debit card in Wallet, so you can send money
  • Be at least 18 years old, and
  • Live in the country where the service is supported.

We have a guide that will tell you everything you need to know about setting up Apple Pay. Once it’s all set up, you’ll be able to send money to friends right within Messages on your iPhone, iPad or Apple Watch.

Setting up Apple Pay Cash

Before you can send or receive money, you’ll need to set up the Apple Pay Cash card. It’s essentially a special prepaid card with some financial services provided top Apple by Green Dot Bank.

First, you may need to head into the Settings menu and make sure Apple Pay Cash is enabled. Go to Settings > Wallet & Apple Pay and look for the Apple Pay Cash toggle at the top of the screen.

apple pay cash toggle

Then, head into the Wallet app, tap on the Apple Pay Cash card, then tap on Set Up Apple Pay Cash. You’ll have to agree to some terms and conditions, but that’s it.

apple pay cash setup

This process will set off automatically if someone sends you money before you get a chance to set it up.

How to send money with your iPhone or iPad

Sending money with Apple Pay Cash is incredibly simple. It’s just an iMessage app.

Apple Pay Cash

1. Launch Messages and then start a new message, or open an existing one.

2. Tap the Apps button and then the Apple Pay button.

3. Press the + or – buttons to adjust the amount, or tap Show Keypad to enter an exact amount.

4. Tap Pay. If you want to add a message here, you can.

5. Tap the send button. You’ll get a summary screen that you’ll need to approve with either Touch ID or Face ID.

That’s all there is to it. The money will be sent immediately, and will be available on the recipient’s Apple Pay Cash card.

How to send money with your Apple Watch

Apple Pay Cash

This is just as easy as it is on your iPhone.

1. Open Messages on your Apple Watch and either start a new message or open an existing one.

2. Scroll down past the message and tap on the Apple Pay button.

3. Turn the digital grown to adjust the dollar amount. If you need to be more exact, tap the dollar amount to show the decimal places, then tap the value after the decimal and rotate the digital crown to adjust.

4. Tap Pay. You’ll be prompted to double-click the side button to confirm.

How to ask for money

You can ask your friend to send you money, too. When they get the request, they can tap it and the payment amount will be filled out automatically (they can adjust it if they want).

Just open Messages, go to a conversation and tap the Apple Pay iMessage app like you would when sending money. Enter the amount, and instead of tapping Pay tap the Request button.

There’s no Request button on Apple Watch, but you can use Siri with a phrase like, “Ask Jason for $15 for tacos.”

How to cancel payment

If you sent money to someone and they haven’t yet accepted it, you can cancel payment.

1. Go to Messages and tap on the payment, or find the payment in the Transaction History of your Apple Pay Cash card in the Wallet app or Settings.

2. Tap the transaction and look for the status field. Tap Cancel Payment. (If you don’t see that option, they’ve already accepted the payment.)

It may take up to a day for the payment to show up back on your account.

After the first transaction, most users will have Apple Pay Cash set to automatically accept payments (that’s the default), so you probably won’t have much opportunity to cancel. You could always try asking them to pay you back…

Using Siri

You can use Siri to both send and request money. Try saying “Send Jane $14 for tacos” or “Apple Pay Greg $12 for tacos.” Or to request money, maybe, “Ask Glenda for $18 for tacos.”

Maybe you should cut back on the tacos.

About that Apple Pay Cash card…

When you receive money, it goes onto your Apple Pay Cash card. That money is then used by default whenever you send anyone else money with Apple Pay Cash. If you don’t have enough in there, you can pay the balance with a debit or credit card.

You can also use money on your Apple Pay Cash card to pay for things using Apple Pay. Apps and in-app purchases, retail, online… it’s just another source of money to use within Apple Pay. Just tap on your payment card whenever an Apple Pay summary pops up on screen for you to confirm, or if you’re buying something at retail, switch to the Apple Pay Cash card before tapping to the terminal.

The maximum balance you can have on the card is $20,000. You can only send or receive up to $3000 per message, and $10,000 within a seven-day period.

Adding money to your Apple Pay Cash card or transferring it to your bank account

You can add money to your Apple Pay Cash card, although you will automatically add any missing balance from a debit or credit card when paying someone. Just open the Apple Pay Cash card in the Wallet app or the Wallet & Apple Pay settings menu. Then tap on the Info tab. Then tap Add Money. Enter the amount you’d like to add, tap Add and confirm.

Taking money off your Apple Pay Cash card is just a little more complicated. You’ll need to add a bank account.

1. In the Apple Pay Cash card info (in Settings or the Wallet app), go to the Info tab.

2. Tap Transfer to Bank.

3. The first time you do this, you’ll have to tap Add Bank Account and enter your bank’s routing number and your account number.

4. Enter an amount, tap Transfer, then confirm with Touch ID or Face ID.

apple pay cash transfer9

A bank transfer can take from 1 to 3 business days (excluding holidays). You have to transfer at least $1 (though you can transfer your whole balance if you have less), you can’t transfer more than $3000 at a time, and you can’t transfer more than $20,000 in a seven-day period.

Is Apple Pay Cash free?

If you use a debit card, Apple Pay Cash is free. But if you use a credit card, there’s a three percent credit card transaction fee every time you use your card to add to your Apple Pay Cash balance.

One Comment

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  1. Neal says:

    But is it available in Australia now becasue it doesn’t appear in my 6S ?

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