Apple Pay later
Can I transfer the loan from Apple Pay later to my bank account?
iPhone 13 mini, iOS 16
Question marked as
Hello,
If you are asking about taking loaned funds from Apple Pay Later to deposit into your bank account, that is not possible. Apple Pay Later loans are only able to be used for purchases from merchants who accept Apple Pay as a payment method. In addition the Program Terms prohibit the funds to be used for "Money transfers, cash advances, or cash equivalents;”
If you are looking to refinance an Apple Pay Later loan into a new loan with your bank you will want to contact an Apple Pay Later Specialist. If your bank loan is only conditionally approved pending payoff information for your debts, make sure to ask the Apple Pay Later Specialist about a ‘payoff letter’ and 3rd party payment information to provide your bank with.
I hope this helps.