I opened the Savings Account on my iPhone Wallet. Future Daily Cash will be automatically transferred to the Savings Account. However how do I, or can I, transfer the present Daily Cash in my account directly into the Savings Account?
[Re-Titled by Moderator]
After much frustration and a few heated posts I did get an answer from Apple Support that did indeed work. Here it is:
Please ensure you have verified your identity in the Apple Cash Card. You can do this in the Wallet App by tapping Apple Cash, then tap the 3dot menu. Tap Card Details, then tap Verify Identity near the bottom of the page. Then - You can initiate an Apple Cash transfer in the Wallet by tapping Apple Card. Tap on Savings, then tap Withdraw or Add Money. Enter the amount you wish to transfer, then tap Next. You will see Apple Cash as a transfer option.
The above is word for word from Apple Support. However, the last few steps were a little different for me when going into Apple Card after verifying my identity. After tapping on Savings I had a box asking me if I wanted to transfer my Apple Cash balance. I clicked on that and followed the prompts.
I hope this helps.
After much frustration and a few heated posts I did get an answer from Apple Support that did indeed work. Here it is:
Please ensure you have verified your identity in the Apple Cash Card. You can do this in the Wallet App by tapping Apple Cash, then tap the 3dot menu. Tap Card Details, then tap Verify Identity near the bottom of the page. Then - You can initiate an Apple Cash transfer in the Wallet by tapping Apple Card. Tap on Savings, then tap Withdraw or Add Money. Enter the amount you wish to transfer, then tap Next. You will see Apple Cash as a transfer option.
The above is word for word from Apple Support. However, the last few steps were a little different for me when going into Apple Card after verifying my identity. After tapping on Savings I had a box asking me if I wanted to transfer my Apple Cash balance. I clicked on that and followed the prompts.
I hope this helps.
Unfortunately, even though there may be an option upon the initiation of the Savings Account to transfer the Daily Cash to the Savings account, there is not an option thereafter, only an option to add funds from an externally linked bank account to the Savings Account. In other words there isn't an option for an active Savings account to have the Daily Cash transferred at any point after the Savings Account is established.
It would have been nice if the prompt that was supposed to show up per the instructions to transfer existing Apple Cash balance actually did appear. It did not in my case. Apple needs to fix this if they want people to have confidence in the ***EASE*** of transferring funds on deposit. Apple Cash should be connected. I see no reason why it is not. Solutions such as transferring existing Apple Cash balances to existing bank links and then transferring back to Apple Savings is a hassle, wonky, and time consuming.
When you open Savings you agree to automatically deposit Daily Cash that you earn into your Savings account.3 You can also add money to Savings from a linked external bank account or from Apple Cash.
Money that you deposit into Savings starts earning interest on the day that the transfer is initiated from the Wallet app.
If you transfer money from Apple Cash, the funds are typically available instantly. If you transfer money from a linked external bank account, it will generally take a few days for funds to be available for withdrawal.
This is it right here, you need to verify the Apple Cash component in Wallet. I got the Apple Card, the Savings, pay from my credit union to the Apple Card when there is a balance, etc. All that works. Apple Cash builds up earnings, I can spend it or transfer it to my CU.
However, I must have never validated my ID in the Apple Cash itself.. did that and then in Savings, adding funds brings up the Apple Cash amount and account.
Click add money and put in an amount equal to or less than the amount of Apple Cash available > tap next in upper right > tap the > at the right facing funding source > at top of page should be your Apple Cash account.
If Apple Cash account is not there, did you ever verify your Apple Cash account?
Identity verification for Apple Card or Apple Cash - Apple Support
I had the same issue, it's caused by never verifying your apple cash card. follow these steps and it will allow you to transfer
Identity verification for Apple Card or Apple Cash - Apple Support
If this was already mentioned in the comments sorry for a duplicate, but I came here for the same reason as everyone else.
Apple Cash verification and Apple Card MasterCard verification are two entirely different processes and financial institutions. Please verify you have Apple Cash setup. Link below as instructions for verify both. Please make sure Apple Cash is verified.
Identity verification for Apple Card or Apple Cash - Apple Support
The Problem is that Apple Cash only allows to link a single bank while Apple Card allows multiple banks, so more than likely you have the account you pay your Apple Card with already linked to Apple Cash. In wallet under Apple Cash and you can delete this account and add your new savings account. Then in Apple Cash transfer the money to the new account.
For me at least there is no (or Apple Cash option), when I click add money I did not have the opportunity to add a new source (Apple Cash). The only option was from the bank that pays my card. The OP wants to add funds From Apple Cash.
Ok, mine wasn't, that's why i wasn't able to xfer to the savings account. I must have missed the verify step as i could xfer to my bank account and use the cash card.
Hope this can help others that had the issue - odd it's not working for you.
I couldn’t get it to work either, despite having already verified my identity with Apple card/cash.
I transferred my Apple Cash balance to my bank account, and then transferred the money from my bank account to the savings account
Thank you. The verify step has been missing in all previous suggestions. Once I followed your post, exactly step-by-step, the Apple Cash amount showed up when I initiated the transfer. Totally seamless. It’s great that you posted this.
Is this true? I don’t want to remove the existing external account to
merely test the transfer of funds to Apple Savings. The Daily Cash already transfers properly.
So I removed the external account and added in the Apple Savings using the provided routing and account numbers. It was accepted and now shows Goldman Sachs Bank USA as the target bank.
No, that’s not correct. This post was from the very first day Apple Savings was released, a month ago. Many account owners were not familiar with the menus and settings. I have probably 5 or 6 banks linked.
How to transfer Apple Cash to Apple Savings
