Apple Pay Cash is now live for U.S. users, allowing iPhone, Apple Watch, and iPad owners to transfer money to virtual Pay Cash cards.
The app requires iOS 11.2, and works with iPhone 6 or later, iPhone SE, the 5th generation of iPads, iPad pro, iPad Air 2, iPad mini 3 or later and the Apple Watch.
Apple Pay Cash allows users to send and receive money through iMessage conversations using the Messages app. Cash is sent from a linked debit or credit card, according to Apple. If you are receiving cash, it is stored in an Apple Pay Cash card in the Wallet app. That cash can be used for purchases or it can be transferred to a bank account.
According to Apple, you will have to have two-factor authentication turned on to use the app.
The app is being rolled out to the latest iOS beta first, so it may not be available immediately to some.
There are limits on the amount of money that you can send and received per day and per transaction. If you are adding cash, there is a minimum of $10 per transaction. You cannot add more than $3,000 per day. You cannot add more than $10,000 over a 7-day period.
If you are sending or receiving cash, there is a $1 minimum and a $3,000 maximum. You can send or receive up to $10,000 over a 7-day period.
According to Apple, here’s what you need to use Apple Pay Cash:
- Your eligible device
- A supported card from a participating card issuer
- The latest version of iOS, watchOS, or macOS
- An Apple ID signed in to iCloud
Here’s how to set up Apple Pay Cash:
- Open the Wallet app.
- Tap on the Apple Pay Cash card that appears there.
- Apple will walk you through the setup process, and ask if you want to enable Apple Pay.
- You'll be directed to the Settings app to confirm your information. From there, Apple Pay Cash will take a few seconds to activate.
- Once activated, an Apple Pay Cash card will appear in Wallet and you'll be able to access Apple Pay Cash in the Wallet app.
- Alternatively, you can also use the Settings app to enable Apple Pay Cash. Go to Settings > Wallet > Apple Pay > Apple Pay Cash and tap the button to toggle it on. Sometimes this option won't show up until it's been activated through the Wallet app, though.
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