I can't verify the payment method on my Apple ID

Use the document Add a payment method to your Apple ID - Apple Support to review your payment methods such as credit or debit cards.

On a mobile device:

1. Open the Settings app.

2. Tap your name.

3. Tap Media & Purchases, then tap View Account. You might be asked to sign in with your Apple ID.

4. Tap Manage Payments.

Check there are not any problems with your payment method. They will usually appear in red lettering. If there are, make sure what you have entered is correct. If it is, contact your financial institution. Problem methods will usually have a notice in red lettering below them. The article: If your payment method is declined in the App Store or iTunes Store - Apple Support has some information about declined payment methods.

If you cannot see a reason for a problem and you have contacted your financial institution, you may find the fastest route to resolution would be to contact Apple for assistance with this.

To contact Support, do this:

1. Click on this link --> Choose your country or region - Official Apple Support

2. Select your country

3. Select: Billing & Subscriptions

4. Select: Subscriptions & Purchases

5. Select: Update payment method

6. Select a chat session or a phone call.

You only need to add the new card first before removing the old one if you have subscriptions or other items that always require the presence of a payment method.

You do not need to set your account balance as default payment method. It is always the default method. You can't change that even if you wanted to so don't be surprised if you can't see how to do that. You can alter the order of non-balance payment methods.

I would think in this modern age of computer that checking your card would be almost instantaneous. I have never ever seen anybody complain about it taking 3 business days to update a payment method. I would think if this was a potential issue, it would be mentioned in Apple's documentation.