A few times a month i transfer money from Apple Cash to my bank NOT using the instant transfer method. It’s usually around 400 and it’s usually in my bank with in 12hrs. I recently did a transfer for 1000 and it is not in my account yet. Does Apple usually hold larger funds for longer times? I am just wondering how long this sat the 1-3 business days i should wait or be worried. Apple Cash support has not been helpful.
iPhone 11 Pro
Actually this is incorrect. To test my theory after I hadn’t received the larger amount I did a bank transfer for $150 from Apple Cash to the exact same bank account and it was in my account in less than 12 hours. It was not an instant transfer. So it definitely has to do with the amount being transferred. But i appreciate the response. It’s more likely they hold larger amounts for reasons, not specified to the general public.
Actually this is incorrect. To test my theory after I hadn’t received the larger amount I did a bank transfer for $150 from Apple Cash to the exact same bank account and it was in my account in less than 12 hours. It was not an instant transfer. So it definitely has to do with the amount being transferred. But i appreciate the response. It’s more likely they hold larger amounts for reasons, not specified to the general public.
Have you registered your account by providing proof of identity? If not your transfers can be limited until you verify your identity.
Apple Cash also has transfer limits based on amounts sent or received in a rolling 7 day period of time. Have you spoken to an Apple Cash Specialist at Green Dot? If not, I strongly urge you to do so.
Contact Green Dot Bank:
For general information about prepaid accounts, visit cfpb.gov/prepaid.
It may be under review, possibly by your bank or Green Dot. Transfers of large amounts multiple times a month could be seen as suspicious; especially as it may indicate prohibited activity (business sales, etc. )
There are several factors that affect the ACH network for transferring funds. The network is associated with the Federal Reserve Bank. Free transfers have the lowest priority and may take 1 to 3 business days before your bank makes funds available.
Apple plays no role in this and has no access to the Federal Reserve Bank system. Apple Cash is a service provided by Green Dot Bank FDIC. If your funds missed the last transfer time for the day, funds may not have actually moved from Green Dot to your bank until the next business day.
There’s no mystery and transfers are Federally regulated. If you want to know more about what is going on, Apple Cash is a service that’s administered by Green Dot Bank. Contact an Apple Cash Specialist at Green Dot Bank by calling (877)-233-8552
You welcome. As noted I reply very frequently in these communities. I do so to help others and provide accurate information. Over the years I’ve worked with banks and for banks and other financial institutions (brokerages and insurance companies). My mother worked for the Federal Reserve Bank in Cleveland for a number of years. I know how the system works.
A one of experiment of transferring funds is not a test and other community members shouldn’t be tempted to draw conclusions. Size of the transfer is not a determining factor in when a transfer is completed.
Here is a good primer on ACH transfers.
https://www.nerdwallet.com/article/banking/ach-transfers
As noted in the article, ACH transfers only happen 7 times a day. Mid size and smaller banks may only transfer once or twice a day. Miss the transfer time and there are no 12 hour transfers.
Banks don’t publish when they transfer and banks are known to hold transfers for up to 24 hours or once per day. Miss a Friday transfer and nothing happens until Monday. Why hold transfers? To reduce costs to the bank. ACH transfers may be free for the sender and receiver, but not for the bank.
I hope this benefits you and other community members that come here looking for answers.
When did you transfer the funds? The ACH free transfer method is one to three business days. If you sent Friday, it may have missed the transfer time and will send on Monday. Then expect to receive it by close of business on Thursday.
Yes it too 4 business days. Please don’t listen to Jeff in his response. He hasn’t experience this personally and is giving a “bot response”. Any transactions over $450 or automatically held the full three business days and it is deposited on 4day. They do this because holding the money on higher amounts helps them accrue interest ie it makes them money. So if you’re in need of your money immediately and it’s a large amount just pay the $15 (max)Apple Cash instant fee.
theres also other scenarios where there could be a fraud block in place… you call Apple Cash customer service. They will advise you if there is one … if not, they will tell you to wait the 1 to 3 business days.
What’s not true? I’ve had $2800 and $3,000 transfers in 12 to 18 hours to my Chase account. Apple Cash, depending on volume only does one to two transfers a day. Transfers are done in bulk to reduce costs. Chase also does the maximum 7 a day. If you’re using a smaller bank your experience may be different.
You even noted that it’s normally 12 hours. You can’t have it both ways, it’s usually 12 hours and you jump to a conclusion to scare other users. Don’t denigrate other users for their experiences, so it fit your narrative.
I contacted my bank and there were no holds or pending deposits so it’s definitely green dot. I saw similar posts over the past few years but nobody responded, saying when or if their money was actually transferred to their bank. Thank you for your response
Again, I appreciate your response. I however never stated that there was a mystery that needed to be solved. I just asked if anybody else had experienced this to share their experiences along with the timeframe in which the money was deposited if it was a larger amount because 2days AFTER my large transaction i made a smaller one and that one was in my account (the Exact same account) within hours and the larger amount is not. You have posted the same response to similar questions over the years but I’m looking for someone who has experienced this personally.
Same here. Waiting for $2100. Have you received your money yet?
This is not true.
Have you received it yet? I am hoping to receive mine soon
Feb 28th and march 1st. Two separate transaction
Apple Cash transfer to bank
