Apple Card Linking Debit Card vs Checking Account to Apple Credit, Cash Cards

[purdnost]

I just realized that I had my Visa debit card linked to my Apple Credit and Cash cards. I swapped it out for my bank checking account, but I’m curious, what are the benefits of using a debit card over checking, and visa versa? When transferring money from my debit card to my Apple Cash card, the funds would be instantly accessible. Will this also be the case with my checking account?

 

[Banglazed]

It’s not a good idea to use debit card regardless since you have unlimited liability (total amount in the account) compared to limited liability for credit card in case of fraud. Ideal to use Apple credit card or Cash (amount is usually less than in checking). Credit card offers cash back on certain transactions over debit card. The primary difference is how you get your money back when a fraudulent transaction occurs and you won’t lose money if it was on a credit card.

 

[0128672]

It’s not a good idea to use debit card regardless since you have unlimited liability (total amount in the account) compared to limited liability for credit card in case of fraud. Ideal to use Apple credit card or Cash (amount is usually less than in checking). Credit card offers cash back on certain transactions over debit card. The primary difference is how you get your money back when a fraudulent transaction occurs and you won’t lose money if it was on a credit card.

I agree that using one's debit card is a bad idea because any fraud investigation takes time while those funds are in limbo in your checking account. The debit card liability is only unlimited if you fail to report unauthorized charges after 60 days. Before then, it's $50 within two days and $500 within 60 days. Your bank's debit card agreement clearly spells out the details and it's worth a read.

Your Liability for Unauthorized Credit and Debit Card Charges

Learn how to limit your liability for unauthorized credit or debit card charges.

www.nolo.com

 

[purdnost]

So, in consulting with my bank, Goldman Sachs, and an Apple Advisor, it was determined that:

My wife attempted to pay down credit on our jointly owned Apple Credit Card using her Apple Cash balance.
She accidentally entered the amount as two cents over what was available on her Apple Cash card.
All but two cents successfully transferred to the credit card from her Apple Cash account, but the remaining two cents were withdrawn from the linked bank account on her Apple Cash card (an expired debit card of ours).
The two cent transaction was reversed and the connected bank accounts in both of our Apple Credit and Cash Cards were automatically cleared by Apple in order for us to reconnect and update our bank information.

Didn’t know a debit card could be linked to Apple Cash. 🤷‍♂️

 

[remington79]

As far as I know a debit card is the only way to add more money to Apple Cash.

 

[purdnost]

As far as I know a debit card is the only way to add more money to Apple Cash.

I just checked and you are correct. The bank credentials must be for transferring money to the bank.

 

[remington79]

I just checked and you are correct. The bank credentials must be for transferring money to the bank.

It kind of sucks. My bank doesn’t do Apple Pay. I can link to it with my checking account number to transfer money from the cash card or pay off credit cards but I can’t add money to the card. It would be nice to add money to the card for use at a vending machine or to send to one of the kids.
I don’t want to switch banks it’s a good local bank with good service. I’ve emailed them before and they said they were looking into adding Apple Pay support.

 

[Danieloz]

I just checked and you are correct. The bank credentials must be for transferring money to the bank.

Yep, I confirm that this is true, there is no other way to add more money to Apple Cash, the only way would be via a debit card.