Yes, you can send Apple Cash to your bank, but only through a process called a transfer
Apple Cash sits in a digital wallet on your phone. Your bank account is a separate place where money lives. To move money between them, you use Apple's transfer feature, which takes the money out of Apple Cash and puts it into your linked bank account. The process takes one to three business days, and Apple does not charge you a fee for it.
The catch is that you can only transfer to a bank account you have already linked to Apple Cash. You cannot transfer to someone else's bank account, and you cannot transfer to a prepaid card or a payment app like Venmo or PayPal directly from Apple Cash — you would have to move the money to your bank first, then move it again from there.
Key Takeaways
- You can transfer money from Apple Cash to any bank account you have linked to your Apple ID, and the transfer takes one to three business days.
- Apple does not charge a fee for transfers to your bank, but your bank may charge you a fee if you receive frequent transfers.
- You need a linked debit card or bank account to set up Apple Cash in the first place, so most people already have one ready to use.
- If you want to move money to a different bank account than the one you used to load Apple Cash, you have to unlink the old one and link the new one first.
How to link a bank account to Apple Cash
Before you can transfer money out, you need to tell Apple which bank account to send it to. Open the Wallet app on your iPhone, tap the Apple Cash card, then tap the three dots in the top right corner. Choose "Transfer to Bank" and follow the prompts to enter your bank's routing number and your account number. You can find both of these on a check, or by calling your bank and asking.
Apple will verify the account by depositing two small amounts (usually less than a dollar each) into your bank account within a few days. Once those deposits show up, you go back into the Wallet app and confirm the amounts. This verification step protects you — it proves you actually own the bank account before Apple will let money leave your Apple Cash.
The step-by-step process for transferring money
Once your bank account is linked and verified, transferring money takes just a few taps. Open Wallet, tap Apple Cash, then tap the three dots and select "Transfer to Bank." Enter the amount you want to send and confirm. That is it — the money leaves Apple Cash when ready, but it does not arrive at your bank right away.
The transfer itself takes one to three business days. Weekends and bank holidays do not count as business days, so if you transfer money on a Friday evening, it may not show up until Tuesday or Wednesday. Your bank will show the transfer as a deposit from Apple, usually labeled something like "Apple Cash Transfer" or "Apple Inc."
What happens if your bank account changes
If you close your bank account, move to a different bank, or straightforward want to use a different account for transfers, you need to unlink the old one before you can link a new one. Go back into Wallet, tap the three dots, and look for an option to remove or unlink your bank account. Then follow the linking process again with your new bank's information.
If you try to transfer money to a bank account that is no longer active or has been closed, the transfer will fail and the money will return to your Apple Cash within a few business days. Your bank will not charge you a fee for a failed transfer, but Apple will not refund any fee your bank charged you if you had one.
Fees and limits you should know about
Apple does not charge you anything to transfer money from Apple Cash to your bank. However, some banks charge a fee if you receive a lot of transfers in a short period of time, or if you receive transfers from sources they consider unusual. This is rare, but it is worth asking your bank about their policy if you plan to move money frequently.
There is also a limit to how much you can hold in Apple Cash at once. As of now, the limit is $20,000, though this can change. If you reach that limit, you cannot add more money to Apple Cash until you transfer some out. There is no daily or monthly limit on how much you can transfer to your bank — you can move it all out at once if you want to.
Why you might want to transfer money out of Apple Cash
Apple Cash is useful for sending money to friends and paying for things in stores, but it is not a savings account. The money does not earn interest, and if your phone is lost or stolen, accessing that money becomes complicated. Moving money to your bank account keeps it in a place that is insured by the government and easier to access from any device.
Some people also transfer money out because they want to use it with a different payment app, pay bills online, or straightforward keep their spending money separate from their savings. Whatever your reason, the transfer process is straightforward and costs nothing.
Frequently Asked Questions
Can I transfer Apple Cash to someone else's bank account?
No. Transfers only go to a bank account linked to your own Apple ID. If you want to send money to someone else, you have to send it to them as Apple Cash using their phone number or email, and they can then transfer it to their own bank account.
What if the transfer fails or takes longer than three days?
Contact your bank first — they can see if the transfer arrived on their end. If it did not, the money will return to your Apple Cash within five business days. If it has been longer than that, contact Apple Support through the Wallet app.
Do I have to verify my bank account every time I link a new one?
Yes. Apple deposits two small amounts and asks you to confirm them. This usually takes two to four business days. You only have to do it once per bank account.
Can I transfer Apple Cash to a savings account, or does it have to be checking?
You can transfer to either. Just make sure you have the correct routing number and account number for whichever account you choose.
What if my bank account is closed after I link it but before I transfer?
The transfer will fail and the money will return to Apple Cash. You will not be charged a fee by Apple, but your bank may charge you if they reject the deposit.