In an email sent to customers, Apple shared new updates related to Apple Cash, involving instant transfers.
Apple Cash Instant Transfer
Instant Transfer is a way to send your Apple Cash money to your bank account, well, instantly. It requires a debit card and until now was limited to Visa cards. But now Mastercard owners can make use of this feature.
Second, starting on August 26 the cost to make an Instant Transfer will change to 1.5% of the transfer amount, with a minimum fee of $0.25 and a maximum fee of $15. The Apple Cash Terms & Conditions have been updated effective August 5 to reflect the new pricing.
Finally, Apple reminded customers that you can withdraw Apple Cash directly to your bank account instead of using a card. But this is not instant and typically takes 1-3 business days. However, this method doesn’t have a fee.