Apple Pay Cash

[wolfpackfan]

A question about Apple Pay Cash. Both my wife and myself have it setup on our iPhones. Periodically during the month I have to transfer money from my bank account to hers and vice versa, so I figured Apple Pay Cash would be the perfect way to do this. We tried it for the first time this morning. I transferred $102 to my wife. It showed up in her Apple Pay Cash account. I guess I hoped it would be a simple matter for her to then just move it to her debit account. But it wanted her to setup her bank account with routing number and account. Then once she moved the money it said it would take 1-3 days. Very disappointed. We were hoping it would be my debit card to her cash account to her debit card and would be pretty instantaneous. Am I missing something here, or is this just they way it is?

 

[rugmankc]

No, it usually takes a couple days to post between banks. It is in the agreement you ok'd with Green Bank.

 

[Rigby]

Have you checked if your banks participate in Zelle? It's run by a consortium of banks, and payments go directly from account to account in minutes. Personally I like it much better than Apple Pay Cash. A list of participating banks can be found here:

https://www.zellepay.com/get-started

 

[ecschwarz]

I think that sending it back as an ACH transfer has become the norm with many of these kinds of services (Square Cash implemented this, too). What I've found is that dumping things from Apple Pay cash into my checking account is typically a day at most (the two times I've done it has been later at night...11pm or so and then it was in my account the next morning).

Square Cash used to let you put money back into your bank account via a debit "return," but I think fraud might have made them get away from that.