Thursday night, Apple announced some new features are coming to Apple Cash, which is Apple’s version of Venmo that works through iMessage.
Here are the following changes coming to Apple Cash:
- Starting today, you can use Instant Transfer with Mastercard debit cards in addition to Visa debit cards. Instant Transfer is the fastest way to transfer money from your Apple Cash balance to your bank account.2
- Beginning August 26, 2021, 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 today, August 5, 2021, to reflect the new pricing.
- You can also transfer money to your bank account using ACH and receive it within 1 to 3 business days with no fee.
The Apple Cash card is additionally where Daily Cash rewards from Apple Card are stored.
Apple Cash is available to use on the iPhone, iPad, Apple Watch and Mac.
To learn more about Apple Cash and how it works, please visit Apple’s page on it.
What are your thoughts on the new Apple Cash update? Comment below or let us know on Twitter at @appleosophy.