iOS guide: How to use Apple Pay Cash

How to set up and use Apple Pay Cash to send and receive money using iPhone, iPad or even Apple Watch.

Apple Pay Cash, iPhone, iPad, Apple Watch
Jason Cross/IDG

I’ve called it a step toward a new cryptocurrency. I’ve talked about how Apple Pay is just yet another chip taken out of the shoulders of conventional banking. I’ve even looked at Bitcoin and why that digital asset is growing in stature among Apple users. Today, I want to explain how to use the new iOS 11.2 feature, Apple Pay Cash.

What is Apple Pay Cash?

Announced at WWDC 2017, Apple Pay Cash is Apple’s answer to services like Venmo and PayPal. It lets you send money to other iOS users via Messages. The money you send is taken from the Apple Pay card(s) you already use. When that cash is received, it is added to a new virtual payment card found in the Wallet. You can pay for things using the balance on that card and Apple Pay. You can also transfer the money into your bank account.

There are lots of ways to use this feature, for example:

  • Sharing restaurant and household bills
  • Giving your children virtual pocket money
  • I guess we will even see it used to pay fees for services.

What are the fees and limitations of Apple Pay Cash?

Apple Pay Cash is made available with help from a company called Greendot. You can read the terms and conditions for what they do here. On that page, you’ll find the following fees:

  • P2P Transfer using a credit card: 3% of the transaction amount.
  • P2P Transfer using a debit or eligible prepaid card: 0%.
  • P2P Transfer using your Apple Pay Cash Card balance: 0%.
  • Purchases made using your Apple Pay Cash Card with merchants outside the U.S.: 3%.

There are some other limitations:

  • You may be unable to use some prepaid cards, and Apple says you cannot use credit cards to pump cash into your card.
  • You cannot transfer money from gift cards into Apple Pay Cash.

What devices are compatible with Apple Pay?

The following devices are compatible with Apple Pay Cash:

  • iPhone SE
  • iPhone 6 or later
  • iPad Pro
  • iPad (5th generation)
  • iPad Air 2
  • iPad mini 3 or later
  • Apple Watch
  • All devices must be running iOS 11.2 or later.
  • Apple Pay Cash is only available in the U.S. at present.

How to set up Apple Pay Cash

Assuming you are in the U.S. and running a compatible device and that you have already set Apple Pay up for use with your iOS device, adding Apple Pay Cash support is a breeze.

  • Open the Wallet app.
  • Tap on the Apple Pay Cash card, you should find there.
  • You’ll be asked to follow a series of steps, after which activation will take place.
  • Once activation takes place, you’ll find a new Apple Pay Cash card in your Wallet app.

How to use Apple Pay Cash

Now that you’ve got the service activated on your device, you can use it to send and receive money from others using Messages.

To use this, create or open a conversation with the person you want to request/send money to in Messages.

  1. Tap the Messages App Store icon to the left of the text entry field.
  2. Select Apple Pay.
  3. Now you can enter an amount (in dollars) and choose whether this is a request for them to pay you or for you to pay them. You’ll get the chance to preview this.
  4. Tap the arrow to send the message.

Can I use Siri with Apple Pay Cash?

You can use Siri to make an Apple Pay Cash payment. Just launch it, and you can say something like, “Pay John $10.” You can also pay people by names and job roles as long as you have added these in your Contacts. “Pay mum,” for example.

How much can I send/receive using Apple Pay Cash?

There are some usage limitations. The minimum amount you can send is $10, while the maximum amount you can send is $3,000

There are some other limits: You can add a maximum of $10,000 to your Apple Pay Cash wallet in any seven days, though you can to transfer up to $20,000 back into your bank account in any seven-day period.

How to I accept money using Apple Pay Cash?

Money sent to you is automatically popped into your Apple Pay Cash wallet, except that the first time you receive cash you have seven days in which to accept the payment. That’s a quick process and means you must accept the terms and conditions of using the service.

Where can I check my Apple Pay Cash settings?

Your Apple Pay Cash settings are accessed in different ways on different devices.

  • On an iPhone, just tap the information (i in a circle) button on the Apple Pay Cash card in the Wallet
  • On an iPad, open Settings, tap Wallet and Apple Pay and tap the Cash card.

What else might I need to know?

If you have any other questions Apple has published a support note here.

Will you be using Apple Pay Cash? How do you feel about a cash-free society? Let me know via the channels below.

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