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.
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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.
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