how to transfer from bank ACH to apple cash
does anyone have instructions on how to transfer money into the goldmen sacks savings account that comes with apple cash? The mobile app on the iphone only allows depositing money using a linked debit card
There are two ways to transfer funds into Apple Savings Account.
- Link account to Apple Cash and then send funds from Apple Cash to to Apple Savings.
- Send funds from your financial institution directly to Apple Savings, leaving Apple Cash out of the mix
Deposit money into Savings
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.
- On your iPhone, open the Wallet app and tap Apple Card.
- Tap Savings account, then tap Add Money.
- Enter the amount that you want to add, then tap Add.
- Select or add the payment source that you want to add money from.
- Double-click the side button to confirm with Face ID, Touch ID, or your passcode.
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.
The last paragraph is very important. Currently availability of funds from external financial institution directly to Apple Savings may take up to 5 days via ACH transfer. If you transfer funds to Apple Cash and then Apple Cash to Apple Savings, may be considerably quicker. This may or may not be an issue for some community members.